1) Youth are the Future Members of Your Credit Union
Many surveys have indicated that those who form a strong relationship with a financial institution as children, are much more likely to keep strong bonds to that same financial institution as adults. It is much more cost effective to market to them as children then compete against every other financial institution once they reach adulthood.
2) America’s Youth Need More Financial Education.
It’s no wonder that a proliferation of Web sites is vying to attract teenage shoppers. U.S. teens spend literally a fortune every year, as much as $150 billion. They have the money, and they have the means to spend. What they too often lack is a grasp of money-management basics.
The simple fact is that kids are going to spend, whether on the Internet or in their local shopping malls. But it’s up to credit unions to do their part and provide parents the tools to make sure their children learn the importance of financial responsibility, spend wisely and understand the value of saving.
This time of year is the perfect time for children to start learning good money management habits. With students on summer vacation, many turn to mowing lawns or baby-sitting or even a part-time job to earn extra spending money. Opening a savings or checking account for the extra cash these youth will be accumulating could be the "foot-in-the-door" you need to start nurturing a relationship between them and your credit union.
The Pee Wee Penguin Young Saver’s Club is designed to teach children the valuable lesson of saving in a fun way. With this program, designed by the North Dakota Credit Union League and endorsed by the Nebraska Credit Union League, your credit union will attract young savers and provide a member base for future credit union services.
Targets Youth Ages: Birth to 12 years
Credit Union Pays One-Time Membership Fee: $50
For more information on Pee Wee Penguin Young Saver’s Program, contact Judi at the Nebraska Credit Union League at 800-950-4455 x 201 or e-mail firstname.lastname@example.org
A web-based program designed specifically for credit unions to target teens ages 13 - 18.