LIVONIA, Mich. – Co-op Services CU is offering matching savings to six high school students it chooses to compete in its "Financially Made" savings contest.
The contest is a different twist on the growing number if savings inducements being promoted by credit unions.
In the Co-op contest six students form 12 to 17 will receive a financial makeover. The competitors will meet individually with a budget counselor to talk about their savings' goals and how to achieve them. Then the winners will go through a four- month savings period after which the credit union will match up to $200 of what they've saved toward their goal.
The students will be chosen form 250-word essays they submit on a savings goal, what steps they'll take to achieve their goal and what being "financially made" means to them.
