MADISON (3/25/09)--Credit unions will have another opportunity to emphasize the credit union difference with the National Youth Saving Challenge during National Credit Union Youth Week April 19-25.
The challenge provides a "good news" story that credit unions can take to their local media. "The Youth Week and Saving Challenge is the perfect opportunity to help credit unions tell a very positive story--one that isn't told by the banks," said Lin Standke, manager of youth programs at the Credit Union National Association (CUNA). A recent Nielsen study notes that positive stories increase consumers' confidence in their financial institution, she said. Reading positive stories in the press about the institution was cited by 44% of respondents as a factor that would increase their confidence in the safety and soundness of their financial institution. Ads, mail offers, and Internet ads ranged from 25% to 21% as factors increasing confidence. (See "Study: Ads build financial-brand confidence" is News Now's
System news section). This year's program has expanded. "This year, based on credit union feedback, the Credit Union National Saving Challenge runs the entire month of April," said Standke. "That means a credit union can promote the challenge during Youth Week, all of April, or any days it wants." Dawn M. Ambuehl-Sadek, financial education specialist at the A+ FCU, Austin Texas, put together a nice Youth Week page on her credit union's website, Standke added. To view it, use the resource link. As of Tuesday, 324 credit unions--24% of them new to the program--signed up to participate in the Saving Challenge. Combined, credit unions expect to collect more than $9 million in deposits. "We anticipate many more sign ups in the coming week," she said. The theme for National Credit Union Youth Week is The Magic of Saving. Use the links for information about the free saving challenge and how to promote youth week, or to sign up for the challenge.