PSECU celebrates National Credit Union Youth Month, provides resources to prepare children for financial success
HARRISBURG, PA (April 19, 2018) — Pennsylvania’s largest credit union, PSECU, is celebrating National Credit Union Youth Month throughout April by providing members and non-members alike with information and resources to help prepare children for financial success.
“National Credit Union Youth Month celebrates the importance of teaching youth to save. Helping the children in your life understand money and how it can work for them is key to their financial success as adults,” explained PSECU President Greg Smith. “We encourage everyone to join us in our efforts to raise a generation of financially capable adults and to take advantage of the many resources PSECU makes available to do so.”
PSECU’s new youth savings program is a great place to start. Through the program, the credit union is offering accounts opened for or owned by those under the age of 18 a 1.50% Annual Percentage Yield (APY) earned on balances between the $5 minimum and $500, to encourage youngsters to start building healthy savings habits. There are no fees to open an account in the youth savings program, and there are no monthly account fees – all that is needed to start earning dividends is an initial deposit of $5.
Harnessing technology to promote financial success, the PSECU Savings app is a free resource for members that turns saving for a goal into a game. After downloading the app on an iPhone®, iPod Touch®, or Android™ device, users select a goal and then use the app’s built-in features – sweeping remaining change into savings, taking a spin to determine a surprise savings amount, or skipping a routine treat – to achieve it.
“Sometimes, providing the right tools to children can be an impetus for changing their behavior or teaching them a new way of thinking,” said PSECU Vice President of Marketing and Membership Development Barb Bowker. “Our youth savings program and the PSECU Savings app are two such resources we offer our members. They get youth involved in money management through active participation, which can be the start of building healthy habits for the future.”
Building a foundation of financial understanding is important, too. That’s why PSECU aims to provide financial education through various forms of engaging content. The credit union’s most recent member newsletter placed a spotlight on younger members and their needs. Specifically, the issue’s content focuses on topics like why it is important to start saving at a young age, child identity theft prevention tips, scholarship scam warning signs, and saving for college. The newsletter also includes a youth activities page as a fun way to start introducing money concepts to children.
Walter Wiser, PSECU’s money know-it-all, is the face of PSECU’s WalletWorks program, which is dedicated to providing consumers with the know-how they need to make their wallets work for them. Budgeting, credit, lifestyle, savings, and security are all main areas of focus for consumers, and WalletWorks provides tools to best achieve overall money management success.
The PSECU Blog is another unique resource for teaching parents of youth important money management lessons to pass along to their children. Aptly titled “Money Tips for Every Stage in Life,” the blog features regularly updated, original content organized into five age-targeted categories: students, young adults, parents, professionals, and seniors. Blog content, as well as other useful financial education information, tips, and interactive contests, are frequently shared across PSECU’s social media channels, including Facebook, LinkedIn, and Twitter.
“To best support the needs of our community, we aim to incorporate financial education content into all of our social media outreach. We’ve found this to be an effective way to encourage a year-round understanding of financial capability, particularly for parents of the younger generation,” said Leah Mallett, PSECU’s Content Strategy and Optimization Manager.
To help parents learn ways to teach their kids about money, PSECU’s Financial Education Manager Sara Weiser, a Certified Credit Union Financial Counselor, will take to Facebook Live in April to field questions on the topic. PSECU encourages viewers to submit questions on their Facebook page and stay tuned to catch the video live.
“As PSECU’s Financial Education Manager, I spend a great deal of time preparing the content we use to encourage financial capability. I also go into the community, visit schools, and collaborate with partner organizations to share information and materials,” said Weiser. “Tools like social media provide an excellent opportunity to simultaneously interact with individuals from across Pennsylvania and beyond. I encourage anyone interested in growing their financial savvy or facilitating youth financial understanding to engage with us on Facebook.”
Throughout the year, PSECU also provides support to organizations working to increase and improve youth financial literacy. Additional information on the credit union’s community involvement is available in their 2017 Community Report Card.
This is Walter Wiser, PSECU’s money know-it-all. He is here to help you make your wallet work for you.
About PSECU
Opened in 1934, PSECU was founded by 22 ordinary people who pooled $90 and made an extraordinary commitment to each other: To create a financial institution where collective resources benefit all members. Today, PSECU continues that legacy as Pennsylvania’s digital-first credit union, with $8.5 billion in assets, an economic impact of over $700 million, more than 590,000 members, and a convenient anytime, anywhere banking model. For more information about PSECU, visitpsecu.com. PSECU has been recognized as a Best-In-State Credit Union by Forbes, a Best Credit Union by GOBankingRates, a Best Bank by Money.com, and one of America’s Best Banks by Newsweek. View its Year In Review to learn how PSECU contributes to the greater good.
