MADISON, Wis.–CUNA is reporting young members saved some $15.1 million during National Youth Savings Month in April.
Themed “Unleash the Power of Saving at your Credit Union,” the initiative was sponsored by Ever Green 3C. In total, CUNA reported young members made deposits totaling $15,185,902.
“We are thankful to everyone who participated in this year’s National Youth Saving Challenge,” said Megan Crowson, manager of consumer engagement at CUNA. “This year’s Youth Month theme tied right into the challenge and showed kids that saving money early on can really add up.”
During Youth Month, CUNA said 3,445 new youth accounts were opened, a 383% increase from 2022, and 54,049 deposits were made.
“Participating credit unions encouraged kids to save wisely through their credit union with giveaways, contests, financial education and events,” CUNA said.
The Grand Prize Winner
To encourage participation, CUNA offered a grand prize of $1,000 to create 10 youth awards worth $100 each, and randomly selected DuTrac Community Credit Union of Dubuque, Iowa, as the grand-prize winner. DuTrac reported 23 new youth accounts and 7,837 deposits totaling $1.7 million for the month.