Use Youth Week to Meet Your Credit Union’s 2013 Resolutions
By: Joanne Sepich, CUNA
If credit unions made New Year’s resolutions, they might include:
1) Increase loan growth in 2013
2) Keep up with compliance changes
3) Eat more fruits and vegetables
Okay, so that last one wouldn’t be on the list, but if we replaced it with, “Add more youth members,” the response would be the same, “That’s a nice-to-do, but I’ve got to focus on the first two resolutions.”
Wrong!
The logical way to build your loan portfolio this year, next year, and in 2023 is to add more youth members in 2013. Celebrating National Credit Union Youth Week™, April 21-27, 2013, is a ready-built tool to keep this resolution.
How so?
Grown-ups. Youth don’t typically stroll into a branch asking to open an account. It’s parents, grandparents, and step-parents who deliver new, young members to your branch. This is a golden moment. If the child has a nice experience in the branch and walks out with prize, a treat, and a savings account, you’ve scored two huge wins. That child has started the path of lifelong membership, AND that grown-up’s loyalty to your credit union has just soared.
April is Financial Literacy Month. Work this to your advantage by rewarding each adult who brings in a child to make a deposit. It can be anything from tools to build a budget or a savings plan for college to a discount on refinancing in the next 30 days. What better way to teach the next generation how to lead responsible financial lives and demonstrate that your credit union cares than by lending a hand and showing the way to a parent?
This year’s theme, “Savings Sleuth: Solve the Mystery™”, will draw in youth (and adults) with the fun of mystery and mustaches. There’s even a “Collect the Clues” kit of clue posters and activity sheets you can pair up with prizes.
Although Youth Week is officially celebrated April 21-27, 2013, don’t feel the need to limit your festivities to just one week. CUNA conducts the National Youth Saving Challenge™ the entire month of April, which rewards 10 lucky savers with $100 cash prizes. Young members who participate jumpstart smart savings habits at an early age. Last April, 241 credit unions joined the Saving Challenge and engaged 125,867 youth, who put a collective $21.3 million in their credit union savings accounts, including 7,300 new member accounts.
It’s only January. There’s still time to add youth to your credit union’s New Year’s resolutions. Visit cuna.org/youthweek to find art, articles, and ideas to score with youth and grown-ups this April.
