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Rewarding Savers 15 and under!

By April 3, 2014 No Comments

With National Credit Union Youth Week coming up, there’s no better time than now to start a savings account for your child and to celebrate we will be rewarding savers 15 years old and under.

With National Credit Union Youth Week coming up, there’s no better time than now to start a savings account for your child and to celebrate we will be rewarding savers 15 years old and under.

Current CitizensFirst Savers – Stop in any branch between Monday, April 21st and Friday, April 25th and mention “Tell us what you are saving for” and we’ll make a deposit of $5 to help you reach your goal.

New CitizensFirst Youth Members – Open an account between Monday, April 21st and Friday, April 25th and we will match your initial $5 deposit. That’s right, bring in $5 to start your account and walk out with $10 in savings!

Plus, every child will receive a savings tracker to help them reach their savings goal.

 

Download the savings tracker

Savings tips and tricks!

  • Establish regular visits to the credit union: Fit in a visit to the credit union once a week, once a month or whatever fits your schedule. Don’t forget to bring the piggy bank along! Kids love watching the coins being counted in our self-service coin counter. After you’re done counting, visit a team member to make a deposit and build your savings! Make sure you grab a sucker on your way out.
  • Set a savings goal for the new toy: Rather than running to the store and buying the toy your child is begging for, talk to them about how much the toy costs and set up a savings plan. When the day comes to buy the toy, your child will not only learn how to save but will hopefully appreciate the toy that much more too!
  • Introduce easy budgeting: If you pay your child allowance, divide each payout three ways: spend, save and give.
    • Spend – this is money they can spend as they choose, such as on toys, books or games.
    • Save – this money is collected in a jar or piggy bank and then deposited into their savings account the next time you visit to build their savings.
    • Give – this money is for a group or non-profit they’d like to help. Once they collect a certain amount, stop in to the group the child decided to support and brighten someone’s day!
  • Put savings on auto drive: With free automatic transfers, you can conveniently transfer funds to your child’s account with every paycheck!
  • Save on your time: By being joint on your child’s savings account you can transfer funds from your account to their account anytime with online banking!

Whether your child just arrived in the world or is getting ready to head to college, if you haven’t established a savings plan for them, this is a great time to start! Even if the savings is just a small amount every week, it will add up over time.