Northwest Credit Unions Report Nearly $1 Million in Youth Deposits During April Challenge

The Credit Union National Association (CUNA) celebrated its 11th National Credit Union Youth Week with an initiative called the National Youth Saving Challenge, which has been held annually since 2004. The challenge asks credit unions to encourage their young members to make savings deposits, and CUNA awards $100 prizes to 10 randomly selected savers.

The National Youth Saving Challenge is open to all youth under 18 who visit a participating credit union during April, and the 2012 installment saw young credit union members deposit a total of $21,330,810 nationally into their saving accounts. The 241 participating credit unions received deposits from 125,867 youth, including 7,300 who opened new accounts.

Seven Northwest credit unions reported participation in the National Youth Saving Challenge: Maps Credit Union, Oregon Community Credit Union, St. Helens Community Federal Credit Union and Cutting Edge Federal Credit Union in Oregon, and Red Canoe Credit Union, Numerica Credit Union and PrimeSource Credit Union in Washington.

All told, the seven credit unions reported a combined $959,431.39 in new youth deposits from 4,198 different youth depositors. This included more than 300 new youth accounts that were opened during the challenge.

This year’s randomly selected $100 winners are:

  • Joshua, age 5, of Grand Rapids, Mich., from AAC Credit Union
  • Hannah, age 10, of Corona, Calif., from CRC Federal Credit Union
  • Alexander, age 5, of Wolsey, S.D., from Dakotaland Federal Credit Union
  • Liam, age 14, of Wildwood, Mo., from Electro Savings Credit Union
  • Chris, age 16, of Erie, Pa., from Erie Federal Credit Union
  • Logan, age 5, of St. Louis, Mo., from Neighbors Credit Union
  • Kaden, age 2, of Carlton, Minn., from Northwoods Credit Union
  • Logan, age 10, of Green Bay, Wis., from PCM Credit Union
  • Sawyer, age 7, of Cornell, Mich., from Peninsula Federal Credit Union
  • Sean, age 9, of Sabula, Iowa, from RIA Federal Credit Union

Next year, National Credit Union Youth Week will be held April 21-27, and the National Youth Saving Challenge will officially encompass the entire month of April.


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Posted in CUNA, Federal.