Youth tuck away more than $20.5M during saving challenge

Young members deposited $20.5 million into their credit union accounts during this year’s National Youth Saving Challenge, sponsored by the Credit Union National Association.

The 238 participating credit unions reported 94,466 young people deposited an average of $217 each, with 8,844 new accounts.

In 2009, the challenge expanded to the entire month from National Credit Union Youth Week because credit unions said one week wasn’t long enough. Seventy percent of this year’s credit unions ran the challenge for the full month.

In 2004–its first year–the weeklong challenge had 143 participating credit unions, with nearly $1.4 million deposited by young members.

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