April is National Credit Union Youth Month and we’re kicking it off with a weekly series on youth and financial education. Be sure to join our email list to receive weekly notifications of new posts in the ECCU Resource Center!
Are your kids on the right track to financial independence?
For many of today’s young adults, the weakest link lies in learning the basics. According to a 2014 survey conducted by Harris Poll on behalf of Junior Achievement USA (2014 Teens and Personal Finance Survey), 40% of teens do not have a savings account, checking account, or debit or credit card, and 59% of teens do not have money management classes offered at their schools.
Achieving economic prosperity is difficult, and it’s especially hard for young people who’ve never learned how to manage money.
ECCU is ideally positioned to respond because we believe in the power of education. After all, it’s the foundation of our credit union. We’re here to help you launch the youth in your life toward financial independence, and here’s how:
Join. For starters, open a credit union savings account for each child in your family. We have an account for all ages, each with their own special perks. Learn more about ECCU Youth Accounts here.
Share. Include your children in household money discussions. Show them how you budget income and expenses. As their skills improve, give them challenges—such as finding a better cell phone plan, calculating the total monthly cost of owning a car, or sticking to a budget for back-to-school or holiday spending.
Coach. Remind your children to ask for help when they need it. And turn to your credit union when you want help. Our tradition of service and philosophy of self-help make ECCU and all credit unions a natural partner in pursuing financial security.
Need to brush up YOUR financial management skills?
It’s never too late to establish or expand your money management skills. If your finances could use some improvement or a major overhaul, we’re here to help. We want you to make smart financial choices (and overcome the not-so-smart ones that may have left you scrambling in their wake), so we’ve teamed up with GreenPath Financial Wellness to assist you with free financial counseling, debt repayment, money management, and more. Our Financial Coaching page is a great place to start!
People Helping People.
Source: Copyright 2015 Credit Union National Association Inc. Information subject to change without notice. For use with members of a single credit union. All other rights reserved.