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National Youth Savings challenge opens 10K new accounts

Three hundred and forty eight credit unions across the country helped nearly 170,000 kids save almost $25 million in the 2010 National Youth Savings challenge. Among the more impressive statistics is the fact that Kids opened 10,385 new accounts. This year’s results average out to $147 deposited per child. Last year’s $26+ million savings total averaged $190 deposited per child, up from $87 per child in the 2004 inaugural year.

Among LSCU participating credit unions, Suncoast Schools CU led the way with 3,490 accounts, while Jax FCU accrued more than $400,000 in deposits. In all, four Florida credit unions, Suncoast, Jax, City County CU (Margate, FL) and Community Credit Union (Rockledge, FL) opened over 800 new youth accounts and deposited more than $600,000 in savings accounts for kids.

“Get in the Savings Game” was the theme for the recently concluded National Credit Union Youth Week™ held April 18-24. Credit unions hosted lobby and off-site events, contests, tours, in-school presentations, and sports-themed giveaways. A web page illustrating activities by state will be posted on CUNA’s web site in July.

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