DURHAM, N.C. – Latino Community CU has launched an essay writing and photo contest with an emphasis on savings as a topic to help foster a culture of saving among youth.
The credit union will award 18 prizes: first prize winners will receive $1,000; second place winners will receive $500; and third place winners will receive $250.
There are two separate contests (photo and essay) for each of the following age categories: 13-14, 15-16, 17-18. Contest winners will receive award money, made available through a grant from the National CU Foundation, in the form of a 24-month certificate of deposit to initiate a practice of saving.
The end result of the contests will be a collection of essays and photos that can be used in the community, displayed in the credit union’s branches, and published online to help encourage a culture of saving. The process will provide an important opportunity for young people to think about the concept of saving. The earlier young people start saving, the better positioned they will be to reach their long-term goals such as a college education, owning a home or saving for retirement. Ultimately, we hope the contests will result in a group of youth, and a community as a whole, that is more informed about how to save and build wealth for the future.
