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Final results: Youth Saving Challenge hits $12 million

MADISON, Wis. (5/8/08)--The National Credit Union Youth Week Saving Challenge, hosted by the Credit Union National Association (CUNA), garnered more than $12 million in savings.

Youth Week took place April 20-26. Four hundred credit unions reported their results to CUNA. Total deposits equaled $12,035,272.42; 76,524 youth made deposits; and credit unions opened 6,748 youth accounts.

"Credit unions proved that youth matter," said Joanne Sepich, National Youth Week coordinator.

This year's theme was "Got Green? Grow it at Your Credit Union," and a number of credit unions combined savings lessons with being environmentally conscious.

"From digging in the dirt to face painting, credit unions opened their doors to youth and introduced them to the very simple concept of setting goals and saving for them," Sepich said.

Last year, 393 credit unions reported $10,133,355 in deposits from 71,844 young members. About 9,067 new youth accounts were opened.

Resource Links

Youth and Young Adults resource link

National Credit Union Youth Week

CUNA's Personal Finance Initiative