Press
CommunityAmerica Launches KC’s First Financial Mobile App for Kids
Andrea Sammarco
Public Relations Officer
CommunityAmerica Credit Union
913-905-8191
mediarelations@cacu.com
“Socky Saves” designed to engage kids and their parents in conversations about money
Lenexa, Kan. (Sept. 13, 2012) – Kansas City-based CommunityAmerica Credit Union is pleased to announce the launch of “Socky Saves,” a new free mobile app companion to its kid-friendly Cash ‘N Coins savings account. Available for Android and iPhone users, the app features its popular sock puppet character Socky Saves-a-Lot, and is designed to help children learn financial fundamentals, as well as foster deeper conversations with their parents about money.
“Research tells us parents are uncomfortable at times discussing money management principles with their kids,” said Sam Passer, vice president of program services for CommunityAmerica. “But this app, in combination with our Kids & Money section of cacu.com will help parents have more confidence to have those conversations in meaningful ways. CommunityAmerica is proud to be the first financial institution in this market to offer a mobile banking app providing this level of youth engagement.”
CommunityAmerica’s Cash ‘N Coins savings accounts are available for kids under the age of 13 and feature fun perks like free coin counting, low $1 minimum balance and a semi-annual newsletter with money-saving tips. Parents who use online banking with CommunityAmerica can easily synchronize their kids’ Cash ‘N Coins accounts with the “Socky Saves” app by obtaining a code for quick e-mail validation. Then, when their children want to see their Cash ‘N Coins account balances, they simply open the app, swipe to their page and give the phone a shake!
“The app was designed to engage our very youngest members — and their parents — to use whether during a shopping excursion, after a deposit at a branch, or as they’re counting coins in their piggy banks,” Passer said. “For instance, when you’re walking through a store and your child comes to you saying, ‘I want that toy,’ the app provides a conversation opportunity about whether they have enough money to pay for the toy, if this is what they were saving for, and more generally about wants versus needs. It provides multiple teaching opportunities during the formative years as kids are forming money management habits that will impact their entire future.”
The development of “Socky Saves” is part of a larger, multi-pronged mission strategy for CommunityAmerica.
“The new ‘Socky Saves’ app is just one more way we demonstrate our consistent dedication to youth financial literacy,” Passer said. “We believe the app can help teach children the value of saving money, encouraging good personal finance skills for a brighter financial future.”
About CommunityAmerica Credit Union
CommunityAmerica Credit Union is a full-service financial institution with more than 167,000 members nationwide. As of Dec. 31, 2011, CommunityAmerica had more than $1.8 billion in assets, ranking it among the nation’s largest credit unions. Based on deposits, CommunityAmerica ranks among the top 10 Kansas City-based financial institutions. There are 32 CommunityAmerica branches in the Kansas City, St. Louis and Topeka areas.
CommunityAmerica provides a full suite of financial products, including checking, savings, money markets, mortgages and a variety of loan products to meet member needs. As a not-for-profit, member-owned financial institution, CommunityAmerica offers highly competitive rates on deposits, loans and investments, and fewer, lower and sometimes no fees at all. Other convenient products and services include a network of more than 28,000 ATMs, 24-hour online, telephone and mobile banking, Visa credit cards, insurance and financial planning. Find out if you’re eligible to JOIN IN by visiting www.cacu.com.