Youth Week Challenge: Exceed $25M In New Youth Deposits/Accts

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MADISON, Wis.-During Credit Union Youth Week this week the challenge will be on to exceed the nearly $25 million in deposits young savers made in 2010.

The theme for this year's festivities is "Money Rock$ at My Credit Union," and Joanne Sepich, Youth Week Coordinator with CUNA, noted that related events will include the National Youth Week Savings Challenge, part of the broader effort to instill children with good saving and spending habits and to engage them with credit unions. In 2010, 175,000 young savers deposited $24.8-million at their credit union.

The challenge, which began last year, was designed to help improve data collection on the number of children who joined credit unions during Youth Week, said Sepich, adding that 2010's high numbers were partly the result of an expanded Youth Month. Even though Youth Week is only one week in 2011, the Savings Challenge is being run throughout the month of April.

Sepich said CUNA urges credit unions to participate in the festivities in the way that best fits their needsd and budget.

Youth Week and the Savings Challenge are meant just to be "a start point," said Sepich. "This is just meant to be something to get credit unions started down the path" of getting youngsters involved.

That path includes participation in the National Youth Advisory Board (NYIB), Sepch added. Despite having a number of credit unions in the NYIB that participate in Youth Week, NYIB Chairperson Rebecca Isaacs noted that the organization does not have any formal connection to Youth Week.

"I'm not sure why NYIB doesn't actively get involved with that," said Isaacs. She added that the two seemed like "a natural fit" but said that she did not know of any conversations that had taken place about joining forces with CUNA on the initiative. Isaacs said she plans to approach NYIB's board to discuss the topic.

National CU Youth Week is in its 10th year.

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