Youth Week: April 20-26, 2014
Youth represent the future of credit unions. A successful youth program requires that the board and management make a commitment to dedicate staff time and resources to increase youth membership.
While special youth events can be held at any time, National Credit Union Youth Week, is held annually during the month of April to give credit unions the opportunity to promote youth membership and good money management skills, and coincide with National Financial Education Month.
The National Youth Saving Challenge™, sponsored by GreenPath Debt Solutions, is held during the month of April in conjunction with National Credit Union Youth Week, and is hosted by the Credit Union National Association. The Saving Challenge helps credit unions build strong, long-term relationships with young members and their families.
Credit unions can hold the Saving Challenge throughout the entire month of April, or designate a specific time period within the month, such as Youth Week.
With the sponsorship support from GreenPath, the number of $100 cash prizes has been increased from 10 to 25. These prizes are randomly awarded to affiliated credit unions that both register for the Saving Challenge and submit results.
Participation is free. Only affiliated credit unions can participate. For more information and Youth Week resources, visit www.cuna.org/youthweek.
2013 National Credit Union Youth Week
Youth Savers "Stached" $25 Million in April
PA's Youth Deposit Record $2M
April 2013 saw young credit union members from 224 credit unions across the country deposited $25.2 million into the share/savings accounts during the 2013 National Youth Saving Challenge, held in conjunction with National Credit Union Youth Week.
The theme for youth week was Saving Sleuth: Solve the Mystery. The week was created by CUNA so credit unions nationwide could focus on the financial needs of young people and provide financial education. It teaches the benefits of saving and goal setting, and invites youth to open savings accounts at their credit union and make deposits throughout the year.
The 224 credit unions nationwide participating this year collectively saw 117,244 youth deposit an average of $214 each, an increase over the average deposit in 2012 of $169, and $196 in 2011.
Pennsylvania credit unions saw a record of more than $2 million in youth deposits during April. Of the 27 reporting Pennsylvania credit unions, 11,071 young members made deposits, and 530 new accounts were opened during the period. Nearly half of the participating credit unions held their Saving Challenge for the entire month of April, while others focused on Youth Week promotions. Since 2009, credit unions have had the option of choosing the length of their saving challenge.
One-year-old Charleigh, a member of Susquehanna Valley FCU, Camp Hill, was one of 10 national winners who received $100 for participating in the National Youth Saving Challenge. Charleigh has been a credit union member for several months since her grandmother opened an account for her.
Participating credit unions are entered into a random drawing, and 10 are selected by CUNA for the $100 awards.