OCCU Celebrates National Youth Savings Month in April

April is National Youth Savings Month at OCCU

OCCU has a demonstrated history of teaching our community's youth the importance of financial literacy, and this April we will be joining credit unions across the nation in celebrating National Youth Savings Month, which emphasizes the importance of guiding kids toward financial independence.  Additionally, during the week of April 20-26, Oregon Community will celebrate National Credit Union Youth Week™.  Each of our branches will be decking out for this year's theme, “Catch the $ave Wave™,” by offering fun children’s activities to boost good habits and “hang ten” on the save wave. As additional incentive, youth will get the opportunity to enter to win $100 at any OCCU branch through the National Youth Savings Challenge (see a full list of rules here).

But although we promote smart saving habits to kids in our branches, we know that building good financial habits starts at home, and it should start early.  For many of today's young adults, the weakest link lies in learning the basics. Only 35% of teens know how to balance a checking account or manage credit cards. During the past several years, a decline in overall financial knowledge is especially pronounced among 18-year-olds, and 13% fewer teens have bank accounts.* Achieving economic prosperity is important but also difficult, and it's especially hard for young people who've never learned how to manage money.  Here are some ways you can help launch the youth in your life toward financial independence:

Join. For starters, open an OCCU savings account for each child in your family. As soon as your children can write, have them fill out deposit and withdrawal slips. Guide teenagers through using a debit card and tracking transactions.  And at OCCU, we have a Lucky Duck program that is perfect for first-time savers (12 and under).  Ask for more information at any of our branches!

Share. Include your children in household money discussions. Show them how you budget income and expenses.  As their skills improve, give them challenges—such as finding a better cell phone plan, calculating the total monthly cost of owning a car, or sticking to a budget for back-to-school or holiday spending. 

Coach. Remind your children to ask for help when they need it. And turn to your credit union when you want help. Our tradition of service and philosophy of self-help make Oregon Community and all credit unions a natural lifelong partner in pursuing financial security.

So join us in celebrating National Youth Savings month this April by visiting one of our branches and teaching the kids in your life the importance of saving for their future...today! 

*2011 Teens and Money Survey, Charles Schwab

Copyright 2013 Credit Union National Association Inc. Information subject to change without notice. For use with members of a single credit union. All other rights reserved.

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