EL PASO, Texas – Six families will compete against each other to be the best savers–with up to $30,000 in prizes to be awarded by Government Employees CU. The contest, aimed at teaching financial literacy, reducing family debt and promoting financial responsibility, will award $10,000 to each of the two families who save the most and $2,500 to each of the other participants. The families are being featured on local television ads and on the GECU web site and newsletters. The families were selected from about 100 applicants and each given financial ‘coaches’ by GECU, who are helping them set goals and monitor their progress. The contest began on New Year’s Day and will run until November 30. Winners will be announced in December.
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