COLLINSVILLE, Ill. — Scott Credit Union is getting area kids excited about savings with its new Big Barkers Kidz Club.
The club, which is free to kids through age 12 who open an account with Scott CU, focuses on making financial literacy and savings fun. To encourage savings, each Big Barkers member who makes four deposits into their higher rate savings account gets to choose a prize. In addition, members gain access to an interactive club Web site that includes several pages of games and fun links, tips about saving, information about the value of credit unions and club events, and even a tool that they can use to email Big Barkers mascot Scotty the Dog. Kids will also receive their quarterly issue of the Money Clips newsletter.
"It is exciting for the kids to receive their own mail. The newsletter is full of interesting and fun articles for the kids or their parents to read," said Scott CU Community Relations Specialist Ashleigh Deatherage. "Our goal with the club is really to create a more fun experience for our young members. We want them to have a positive experience at a young age as they learn about saving money. We truly believe that their experience at this age will stick with them when it comes to handling their finances."
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The Big Barkers Kidz Club also offers kids the opportunity to open a certificate with a $500 minimum balance once they have saved that amount.
"The idea is to teach them that they can earn more interest on their money as the amount they have saved grows," Deatherage said. "It also opens their eyes to the fact that there are other tools that can help them save."
Once the club members turn 13, they receive a quarterly newsletter called Real Money, and they have an area of the scu.org Web site that is geared more to helping teens with money management.
"The Real Money newsletter covers topics that are more appropriate for 13 through 17 year olds," Deatherage said. "It will give them information on the best ways to save to buy a car or to pay for their education. It also covers topics such as credit cards. It is important for these young teens to learn about credit and how they can build good credit now for their future needs."
The Web site will include an interactive tool that will help teens plan for their financial future.
"The Guides to Independence offers online programs about spending money wisely, saving money, managing money and borrowing money," Deatherage said. "Plus, when teens go through the programs, they receive free e-music downloads."
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