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Credit Union Youth Week 2012

Monday, October 29, 2012   (0 Comments)
Posted by: Erin Thacher
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Kansas Youth Save $75,000 during Youth Savings Week

Kansas youth saved more than $75,000 during April as part of Credit Union Youth Week 2012. Six Kansas credit unions reported 626 youth made deposits, and 53 new youth accounts were opened.

Here’s what some of our state’s credit unions did to promote youth saving and financial literacy.
View photos.

McPherson CO-OP Credit Union
McPherson CO-OP Credit Union underestimated how many kids would come see RF Alexander The Great, a miniature horse. The horse donned a superhero costume and entertained youth and their parents.

The credit union ran out of Super cookies, pop and prizes.

"We had more kids in one day than we usually have in the whole week,” reported McPherson CO-OP. "They deposited more than $14,000 in one week, and we’re a closed credit union! It was awesome.”

They also opened 18 new accounts.

Farmway Credit Union
Two Farmway Credit Union employees went to both of the Beloit Schools and talked to the kindergarten thru third grade classrooms about savings. Each student received an activity book.

During Credit Union Youth Week, Farmway CU provided snow cones and popcorn for the children to enjoy while they played a game for money.

"It was a fun week…children received treats, money or prize and left with a big smile,” reported Farmway CU.

River Cities Community Credit Union
On Monday, River Cities Community Credit Union had a member of the community dress up like a superhero and help kids come in to make deposits, resisting the evil tempters of spending (two members at the door). The credit union played super hero movies all week and had refreshments and goodie bags.

Kansas State University Federal Credit Union
K-State Federal Credit Union chose to celebrate Youth Savings the entire month of April. The credit union was decorated with lightning bolts, window paint and cardboard cutout super heroes (Wonder Woman was certainly an attention getter!). The credit union held several contests for youth up to 18 years old including: 

  • Super Hero Day:  Any youth (0-18 years) opening an account or depositing $25.00 to their existing account on Saturday April 28, received a $5.00 bonus deposit from K-State FCU. 
  • Costume Contest:  Held on Saturday, April 28, kids (1-6 years) were encouraged to come dressed as their favorite super hero and have their picture taken with super heroes at the credit union - Spiderman, Iron Man, Wonder Woman or Captain America. Not to exclude children who didn’t have a costume, K-State FCU supplied a cape, mask and gloves for them to wear for pictures. Best dressed super hero received a $25.00 deposit to their account 
  • Comic Strip Contest:  Kids (7-12 years) could draw comic book strips depicting "super savings.” Winning comic strip entry received a $40.00 Visa gift card. 
  • Commercial Contest: Youth (13-18 years) could create a YouTube video or radio commercial depicting "super savings.” Winning video/commercial received $50.00 Visa gift card. 
  • Save@School Challenge: During the month of April, K-State FCU also had their Ice Cream Savings Challenge between the schools that participate in the Save@School program. Schools competed to see which students could save the most money. The winning school, Riley County Grade School. was rewarded with ice cream treats for the entire student body. 

K-State Federal Credit Union partnered with the Kansas State Treasurer’s office in 2004 for the Save@School program. Currently, six elementary schools participate in the program, which combines money management lessons and real life financial experience of having a savings account. Combined, the six participating schools saved a total of $5,963.96 throughout this school year.

Nationwide
Nationwide, 241 credit unions participated in Credit Union Youth Week. Deposits from 125,867 youth resulted in 7,300 new accounts and total deposit of more than $21 million!

The average deposit per child was $169, compared to $196 per child last year.

Next year, National Credit Union Youth Week will be held April 21-27, 2013, and the Saving Challenge will run the entire month of April.