MADISON, Wis.—As part of the National Credit Union Youth Month savings challenge, young members deposited $16.8 million in their credit union accounts during April—double the amount deposited during the challenge last year, according to CUNA.
Results were reported by 145 credit unions that participated in the challenge, which was sponsored by GreenPath Debt Solutions and CUNA. Credit unions nationwide reported opening 26,800 new youth accounts during the month of April, with more than 84,000 young members making deposits.
“The savings challenge remains a potent way to drive youth engagement, reinforce good saving habits, and grow deposits,” said Jeremiah Tucker, CUNA youth month coordinator.
Fayette Federal Employees Credit Union was randomly selected to win the $1,000 grand price. The credit union gave 10 young members $100 each.
“Just the thought of those little members collecting their winnings makes our staff extremely happy,” said Wendy Myden, president of Fayette FECU.
The Illinois Credit Union League won a CUNA contest for having 10 credit unions participate in the challenge.