RACINE, Wis.– Educators Credit Union has launched “Mind & Money,” a digital tool it said provides parents and guardians an easy way to pay allowance, assign chores, and teach financial lessons, with no monthly fees.
According to the credit union, Mind & Money also offers children and teens their own debit card that comes with parental controls and a spending tracker.
“You can never start teaching your kids about money early enough,” said VP-Digital Services Kimberly Schmidt. “My favorite part about Mind & Money is the budgeting section, which allows kids to create a budget with short-term and long- term savings goals, monthly spending goals, and charitable giving goals in an environment where it is okay to make mistakes. Kids who can make mistakes now are able to learn valuable financial lessons and not repeat those mistakes when they get older.”
The Benefits
The 220,000-member Educators CU said in a statement that at the heart of its mission is a deep commitment to providing financial literacy. To that end, it said Mind & Money continues this legacy with a digital way for parents and guardians to:
- Teach real-world financial lessons. “Mind & Money helps children and teens on their journey to becoming smart spenders and savers. They can learn the importance of money management, create and track savings goals and budgets, borrow money from parents with or without interest, and set financial goals,” the credit union said.
- Reward children with real-time earnings. ECU saidMind & Money gives parents and guardians a convenient tool to pay and reward their children. “They can earn allowance, receive money for doing chores and tasks around the house, and earn rewards for good grades and other accomplishments.”
It’s Called Fresh for a Reason. And We Offer Home Delivery. For Free!
The biggest, best and freshest news reporting in credit unions remains free in ’23! Each morning CUToday.info delivers its daily Fresh Today news update offering the latest headlines and breaking news right to your email, with the easy-to-read headlines format allowing you to click on the stories that interest you most in order to learn more.
If you haven’t yet signed up for the new email solution on which CUToday.info has partnered with ResponseGenius, you can do so here. Signing up requires less than one minute of your time—and it’s free!
Please note that after signing up you may need to go to your Spam/Junk folder and mark the morning headlines email as safe. CUToday.info does not provide its list of readers and emails to outside parties, and we will not be contacting you to sell you an extended warranty or sending you any links so you may cash in on an inheritance you didn’t know was coming.
And did we mention it’s free?
Please note and/or make your IT department or email administrator aware the emails will be coming from the domains CUTodayinfo.com and CUTodayinfoReply.com