CUs help youth celebrate the 'magic of saving'

MADISON, Wis. (4/21/09)--Credit unions are helping youth celebrate the "magic of saving" during the Credit Union National Association's (CUNA) National Credit Union Youth Week, which kicked off Sunday and continues through Saturday.

Youth Week began in 2001 as an opportunity for credit unions across the country to focus on the financial needs of young people and provide financial literacy education," said CUNA President/CEO Dan Mica. "The Savings Challenge was then added in 2004 as an opportunity to bring youth to the credit union to open new accounts or make deposits into existing accounts."

For the first time, the Savings Challenge will run throughout April. During the challenge, credit unions invite youth to open savings accounts and deposit their money. Ten credit unions also will win $100 each to pass along to their youth.

"This year's theme [The Magic of Saving] celebrates the magic of one of the most basic, albeit most fundamental, pillars to financial independence," Mica said. "Now more than ever, it is vital that credit unions emphasize the importance of saving to our nation's youth to build for their future financial health and freedom."