For many of today's young adults, the weakest link lies in learning the basics.
According to a 2014 survey conducted by Harris Poll on behalf of Junior Achievement USA (2014 Teens and Personal Finance Survey), 40% of teens do not have a savings account, checking account, or debit or credit card, and 59% of teens do not have money management classes offered at their schools.
Achieving economic prosperity is difficult, and it's especially hard for young people who've never learned how to manage money.
Superior Choice Credit Union is ideally positioned to respond because we believe in the power of education. We're here to help you launch the youth in your life toward financial independence, and here’s how:
Join. For starters, open a credit union 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.
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 Superior Choice Credit Union and all credit unions a natural partner in pursuing financial security.
We're here to help. For more information, contact us by calling 800-569-4167 or visit www.superiorchoice.com
Superior Choice Credit Union is celebrating National Credit Union Youth Month April 25-29! We've planned a few activities to celebrate our youngest members:
- Each branch of SCCU will host a Credit Union Strong coloring contest for kids up to age 12. Stop by your nearest SCCU branch to pick up the coloring contest page or click here to download the printable coloring page PDF. Each branch will randomly select the winner of a $25 VISA gift card after April 29.
- All students who make a deposit at the SCCU school credit union during April 25-29 will be entered to win a drawing for a $25 VISA gift card. A random winner will be selected after April 29.
- From April 25-29, SCCU will deposit the first $5 into new accounts that are opened by anyone 18 years of age and under. (Membership eligibility required. Federally insured by the NCUA. Special is only available 4/25/2016-4/29/2016. Offer is subject to change or discontinue at any time.)
- College scholarships are available to SCCU members. The application period ends April 30, 2016. Click here for information.
Click here for more information about National Credit Union Youth Month.