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Kids Sock Away $23.5M in Youth Savings Challenge
Monday, May 18, 2015 6:35 AM

Kids Sock Away Money in Youth Challenge
Youngsters saved more than $23.5 million in April for the National Youth Saving Challenge. (CUNA Photo)

CUNA reports that kids saved more than $23.5 million during this year’s National Youth Saving Challenge, which ran concurrently with National Credit Union Month in April. Spread among 125,188 young credit union members from 235 participating credit unions, the average saved per youngster was $187. Additionally, 8,420 new youth accounts were opened.

The event, which aims to imbue positive savings behavior in school-age children, is open to all youth under the age of 18. CUNA has organized the challenge since 2004, and it has lasted the full month of April since 2009.

“From the tiniest to the largest credit unions, from one coast to the other, we heard from you all through photos and tweets,” said Joanne Sepich, CUNA director of consumer education. “And what a thrill it was to watch lobbies turn into jungles and tellers turn into safari guides.”

National Credit Union Youth Month’s theme for 2015 was “Wild About Saving.”

Meanwhile, CUNA also has randomly selected 25 participating credit unions to receive $100, which they will then in turn give to a participating member of the challenge.

“Through the generous support of GreenPath Debt Solutions, 25 of these young savers will have an extra $100 in their accounts,” Sepich said. “Credit unions are succeeding at sending the message that you’re never too young to save. One of our winners is just 9 months old (Good job, Juliana’s parents).”