VIENNA, Va. – Navy Federal Credit Union branches around the world came up with creative themes to encourage and educate young members and their parents about the importance of saving money early.
The innovative ideas contributed to 1,400 new accounts and $1 million in deposits during CUNA's National Credit Union Youth Week Saving Challenge.
Young members who made a new deposit of $25 received a backpack with educational material. Any minor who came into the branch qualified for a drawing to win a $250 EasyStart share certificate.
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"The participation level was very high this year," said Lynda McDaniel, vice president of membership. "Our staff did an incredible job in making both our young members and their parents more aware of the importance of financial literacy."
Highlights of branch efforts included a Jacksonville, Florida branch designing a miniature talking ATM. Young members were able to enter their smaller version deposit slips/entry forms into the ATM by using a PIN, entering their information and then their form. Another branch in Portsmouth, Virginia, set up a cardboard display of two life size children holding a roof made of pennies over their heads with a slogan that read: "Raise the roof on savings, NFCU helping Children Build a Foundation for Their Future."
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