Higher number of youth savings accounts opened at Arsenal during Credit Union Youth Month
Each April, Arsenal participates in National Credit Union Youth Month. Last month, three times as many new accounts were opened at the credit union by or for individuals age 18 and under compared to the same time period last year – 77 vs. 25.
This year’s theme was “The Science of Saving,” which members noticed on branch TV monitors, teller signature pads and posters. Through the credit union’s social media channels (Facebook and Twitter) and eNewsletter, parents were provided with an easy way to help their child achieve a savings goal. A total of 652 young members deposited more than a quarter million dollars – $232,307.27 – into their credit union youth savings accounts last month.
April also happened to be National Financial Literacy Month, which Arsenal celebrated in grand fashion by reaching out to a large number of students at both the elementary and high school level and teaching them a variety of money concepts and skills to prepare them for a successful financial future. The credit union’s certified educator in personal finance, Jenny Remes, gave a total of 18 free financial education presentations at five local schools, reaching 523 students! Such initiatives are much needed, as a recent study found that 95 percent of parents agree that students should learn about personal finance in school. The most impactful education occurs at a young age, and Arsenal is committed to empowering young people with the essential skills needed to make sound financial decisions as a part of our community involvement efforts.