LZECU Encourages Youth to Give a Hoot About Savings
Learning to save for what you want in life is a crucial life skill, but it’s one too few young people are learning. That’s why for National Credit Union Youth month in April, LZECU will focus on helping young people develop good saving habits.
The theme of the event is Give a Hoot About Saving. Owls represent wisdom, and nothing is wiser than learning to save for one’s future goals. The first step to teaching your kids about money is talking about money.
So how to start the talk?
- Ask questions. If you’re going out to eat, talk about the price difference between the options, and ask them which they would choose. If they select the more expensive, talk through what you might have to give up later in the week.
- Make them part of your budgeting. If you’re doing any kind of financial planning for the year, solicit input from your kids. Enlist them in your saving goals—no one watches you more closely than your kids, so they’re natural accountability partners! If you’re uncomfortable revealing too much of your financial picture, you can keep the discussions high level, but involving them makes money less abstract.
- Open a youth savings account at Lubrizol Employees’ Credit Union. This is the best way to help them to learn to save for what they find meaningful in life. A lifetime of good savings habits can start now!
We’ll be hosting a savings challenge for the entire month, encouraging young people to save for something they care about and offering prizes for participating.
WIN $100 CASH!
2 Ways for Youth to Win!
- Start with an LZECU savings account! All youth accounts opened during April will receive a free gift and an entry to win $100.
- Learn to Save! All youth that come into to the credit union at least TWICE during April to make a deposit into their savings account will receive a free gift and an entry to win $100.
How to open a youth account
Parents, grandparents and other adult members can establish a life-long LZECU membership by opening a Lil' Atoms membership for their children 12 and under* with benefits such as:
- Minimum $5 opening deposit
- Educational Newsletters
- Access to Lil' Atoms events throughout the year
- Lil' Atoms Savers Card - Receive one punch per day when your child comes in to make a deposit into their Lil' Atoms account. When the card is complete, be entered into a quarterly drawing to win $50!
*Tax information for the account is reported under the child’s Social Security number with signed consent from parent. Only one custodian per account. Custodian is the only one with access to funds for all transactions. The minor cannot access the funds until age 21 without permission of the custodian.
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