MADISON, Wis. (4/14/09)--The Credit Union National Association’s (CUNA) National Credit Union Youth Week kicks off Sunday, with more than 400 credit unions signed up for the savings challenge. About 435 credit unions have signed up as of Monday morning, said Lin Standke, CUNA Youth Week manager. The Savings Challenge takes place during Youth Week. During the challenge, youth deposit money into savings accounts at credit unions. Credit unions also can win $100 from CUNA for one of their youth members. Last year, more than 76,500 young members deposited nearly $12 million into their accounts. About 6,748 were new accounts. This year’s Youth Week theme is “The Magic of Saving.” Several credit unions have planned activities:
* Aberdeen Proving Ground (Md.) FCU is hosting a month-long series of promotions for Youth Week. Magicians will appear at the credit union’s branches Saturday, and a “Magic of Saving” contest will run all month long. Members 18 years and younger can participate to win $100 cash or a $250 savings bond; * Marshall (Mich.) Community CU will host a Kids Day event April 18 with a Bike Safety jamboree, a magician, and a presentation on managing money for kids and adults. Youth also can enter contests to receive $50 savings bonds and tickets to local amusement parks and events; * Prime Financial CU, Cudahy, Wis., will host a coloring and essay writing contest. When youth make deposits to their savings accounts, they also will be enrolled to win $100; and * The Michigan House and Senate declared April to be Financial Literacy Month (Michigan Monitor April 6). The Senate resolution was co-sponsored by State Sen. Randy Richardville (R-Monroe) and State Rep. Andy Coulouris (D-Saginaw).
The Michigan Credit Union League’s Financial Literacy Legislative Challenge also is underway and credit unions can partner with a lawmaker in their district to host an education event. The program builds relationships between credit unions and lawmakers through presentations to students or visits to student-run credit union branches (Michigan Monitor
April 6). So far, about 18 lawmakers have expressed interest in partnering with a credit union, the league said.