Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
Ohio youth deposited 4M in savings
COLUMBUS, Ohio (5/24/10)--Ohio youth collectively saved more than $4 million through deposits at 20 Ohio credit unions during the 2010 National Youth Saving Challenge in April. The challenge is a nationwide effort to help young people understand the benefits of saving. Nearly 10,000 Ohioans age 17 or younger deposited more than $4.1 million into participating credit unions. The average deposit was $420, according to the Ohio Credit Union League. “The debt crisis in our country is one of many factors slowing economic growth,” said Paul Mercer, league president. “Helping young Ohioans see the benefits of savings allows up and coming consumers to be smart and savvy about their finances, while passing on knowledge and strong financial habits to future generations.” Statewide, credit unions opened 772 new accounts. Nationally, the number of youth savers increased nationwide by 21.6%, and new youth savings accounts rose by 4.4% from 2009, according to the Credit Union National Association (CUNA). Nearly 170,000 youth made deposits, opening 10,385 new accounts. In 2009, nearly 140,000 young members deposited $26.5 million into savings accounts during the national event, including 10,006 new accounts. The National Youth Saving Challenge is held in conjunction with the annual National Credit Union Youth Week, and is sponsored by CUNA.
Other Resources

RSS





print
News Now LiveWire
.@MECreditUnions announces winner of @YoungFreeME #SoundOff contest. @Sassquatch_Band will play Old Port Festival in June @PDD_Downtown
15 hours ago
House Financial Services Com. to hold March 3 hearing to receive the semi-annual report of @CFPB Director Richard Cordray.
15 hours ago
Rep. Jeff Miller (R-Fla.) re-introduced bill to ease veterans' access to loans for #smallbusiness purposes from a #creditunion (HR 1133)
17 hours ago
You can get your subscription to @cuna 's free, daily, online #creditunion #news service News Now here: http://t.co/YtUejEmAYP
17 hours ago
CCUA hosts @TheNASCUS college for #creditunion directors http://t.co/CftpSXDKWx
20 hours ago