The National Credit Union Youth Month’s savings challenge railed young members to deposit $16.8 million in their credit union accounts this April—double the amount deposited during the challenge last year.
Results were reported by 145 credit unions who participated in the challenge, 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 saving 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 FCU 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 the Uniontown, Pa.-based credit union.
The Illinois Credit Union League won a CUNA contest for having 10 credit unions participate in the challenge.