Power of pennies – CUNA

  • June 2, 2016
  • By: Greenpath Financial Wellness

power of penniesDuring the April National Youth Savings Challenge, more than 33,350 young credit union members committed to healthy savings habits by depositing $8,401,462 into their saving accounts and certificates of deposit. The power of pennies is that they can add up quickly. Every little contribution overtime helps.

Held in partnership with GreenPath Financial Wellness, the 13th annual savings challenge included 93 credit unions that reported an overall average of $252 saved per child.

“While these numbers are outstanding, the real triumph is that tens of thousands of kids have discovered the need for financial responsibility and have been placed on the path to better financial futures,” said Jeremiah Tucker, CUNA consumer engagement program lead. “We commend all of the credit unions that took part in this initiative and offer our deep gratitude to Greenpath, without whose support the challenge would have been impossible.”

The National Youth Savings Challenge is held in conjunction with National Credit Union Youth Month, an annual event dedicated to educating youth in the credit union movement. This year’s theme of “Credit Union Strong,” encouraged kids to “Pump Up” their savings through lobby and off-site events, contests, in-school presentations, and fitness-themed giveaways.

CUNA and Greenpath Financial Wellness also selected 10 random credit unions to receive a FitBit to award to the young saver of their choice. The winning credit unions are:

  •     Buffalo (N.Y.) Metropolitan FCU;
  •     Beaver Valley FCU, Beaver Falls, Pa.;
  •     Erie (Pa.) Community CU;
  •     Dynamic FCU, Celina, Ohio;
  •     DuTrac Community CU,  Dubuque, Iowa;
  •     NW Priority CU, Portland, Ore.;
  •     Service CU, Portsmouth, N.H.;
  •     Progressions CU, Spokane, Wash.;
  •     Two Harbors (Minn.) FCU; and
  •     Service 1 FCU, Muskegon, Mich.