Press
ASI youth get “Wild About Saving”
HARAHAN, LA (May 21, 2015) — ASI Federal Credit Union (ASI) encouraged youth to get “Wild About Saving” during the month of April in celebration of National Credit Union Youth Month, sponsored by the Credit Union National Association (CUNA). This year’s theme encouraged youth to use resources available at the credit union to help them cut their way through the jungle of financial responsibility.
During the month-long celebration, ASI shared financial tips and resources with members and encouraged youth to visit the credit union to learn more and start saving. More than 200 members under the age of 18 made deposits and 27 new accounts were opened by youth. These young savers deposited nearly $71,000 at the credit union in April.
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. (CUNA)
“By empowering youth with the knowledge and tools they need to understand the importance of budgeting and saving, we’re equipping them with skills they will use for years to come,” explained ASI President/CEO Mignhon Tourné. “An important component of our vision of eliminating poverty in the communities we serve is helping youth learn lifelong financial management skills.”
In addition to promoting good saving habits and smart money skills for children and teens, the month-long celebration gave youth an opportunity to win prizes! ASI awarded $50 gift cards to Roxanne L. (age 6), Jordan G. (age 5), Kiya H. (age 13), and Lydia B. (age 5) as winners of the ASI Youth Savings Challenge. Winners were selected by a random drawing from all entries received. Additionally, all entrants were given the opportunity to participate in the National Youth Saving Challenge™ and a chance to win one of 25 $100 prizes.
About Us: ASI Federal Credit Union (ASI) was chartered in 1961 to serve working class members in Southeast Louisiana. For over 50 years, ASI has lived the mission of strengthening the financial health of underserved communities through financial services and education. Today, ASI has more than $300M in assets and 55,000 members and offers 12 branch locations in four parishes. As a low income designated Community Development Financial Institution (CDFI), ASI has been awarded over $13M in grants to work towards the elimination of poverty in the communities it serves.