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Many things! The Credit Union National Association sponsors the Saving Challenge for affiliated credit unions. This free program helps credit unions build strong relationships with youth and their families. The Saving Challenge will take place during the entire month of April, when youth are encouraged to make deposits at their credit unions. We'll report the results, plus award a $1,000 prize to a participating credit union. So just what is the Saving Challenge?
Simple. Click here to register by answering a few simple questions. List your goals: the number of young members making deposits, the number of new accounts opened, and a total amount deposited by youth during April. After registering, remember to return to the site at the end of April to report youth deposits, number of young members making a deposit, and new accounts opened.
Please consider joining the national challenge. By doing so, you help draw national attention to all credit unions and the enormous steps they are taking toward youth financial literacy. Certainly, you can hold your own challenge and Youth Month celebrations, but when you join the national effort you double the impact of your efforts and help set national goals for next year.
Remember, registering with the National Youth Saving Challenge is FREE. Participation is EASY; you simply set goals, register, and report back.
The Saving Challenge can bring you loans two ways:
With an online branch and debit card services, your credit union can serve these young members forever. Gone are the days of needing a checking account from a local credit union or bank. Currently, young adults rely on electronic access to their accounts through credit and debit cards. Don't have an online branch, debit cards, or mobile banking at your credit union? Think about adding these services, as young adults consider them essential.
Credit union membership is open to the "family" of those eligible for membership. Check your credit union charter to see how your credit union defines family. One common definition is "any relative by blood or marriage, or foster and adopted children, living under the same roof and in the same household with a credit union member."
While we encourage youth to make a deposit, we cannot require this. Therefore, any child under age 18 (member or not) can register with parental permission by supplying his or her name, age, and current date to your credit union.
Certainly! We recommend that your credit union offer additional prizes, either cash or gifts to young members who participate in the challenge. This is, however, completely up to your individual credit union or branch.
Here are two strategies--try them both:
Every contest has its rules. You'll want to print a copy of the rules from the CUNA website. Also, you may want to put a link on your website to this page.
Keep them in your credit union. You report only totals to CUNA. If your credit union is selected as the winner, pick 10 young savers from your list or registration ships, and send only the names and ages of those 10 winners to CUNA.
Champion for the Credit Union Movement
Credit Union National Association is the most influential financial services trade association and the only national association that advocates on behalf of all of America's credit unions. We work tirelessly to protect your best interests in Washington and all 50 states. We fuel your professional growth at every level and champion the credit union story at every turn.
© 2018 Credit Union National Association
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