RALEIGH, N.C. – A recent youth savings challenge netted SECU $3.2 million in deposits in one week and 600 new youth accounts.
The $28-billion CU’s “Dino soar into Savings” challenge encouraged more than 17,500 “FAT CAT” and teen “Zard” members to make a deposit into their share account during the week-long event. The youths’ deposits automatically entered the young members in a random drawing for one FAT CAT and one Zard member to win the grand prize of an HP Stream 11 Laptop.
The contest ran from April 20-24. Each year during April’s Financial Literacy Month SECU features a youth saving challenge to emphasize the benefits of saving to its youngest members, the CU explained.
SECU employees statewide promoted the campaign with dinosaur displays and provided youngsters with themed games, puzzles and coloring sheets to engage youth in financial education activities. Offices also held various youth appreciation events and gave financial literacy presentations at local schools and branches using SECU’s FAT CAT program for children 12 and under, and the Biz Kid$ and NEFE (National Endowment for Financial Education) curricula for teens.
SECU currently serves over 230,000 FAT CAT and Zard members with more than $166 million in savings.
“The Youth Saving Challenge is a fun campaign that provides a positive educational experience for youth and added savings towards their future,” said Brea Hull, VP of SECU’s King branch. “SECU members young and old enjoy the creative displays and festivities we offer during the Challenge Week and parents are happy their children are interested in learning about money and why it’s important to begin saving at an early age.”