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Why You Shouldn’t Participate in Credit Union Youth Month

April is Youth Savings Month. What’s the big deal? Kids don’t need money management skills. Whatever financial literacy guidance our youth receive can come from school classes, or it can wait until they are adults, when they might actually need it. Although many Americans are living paycheck to paycheck, and most do not have the recommended three- to six- months of living expenses, we don’t need to bother our carefree youth and talk about serious money topics.

Consumers don’t need to know that credit unions encourage our youth to get in tip-top financial shape. Or that credit unions are a source of financial strength for their members.  We probably don’t want that “getting out.”

If credit unions encouraged youth to save, it might highlight credit unions’ financial education and community efforts. We wouldn’t want anyone to know that credit unions can offer something they might not find at another financial institution, like money management help and guidance for people of all ages.

By participating in youth month, credit unions might attract younger members and build and strengthen existing member relationships. Your credit union might grow! 

Youth Savings Month efforts might even make it to Capitol Hill. What if our policymakers got wind of how credit unions are encouraging youth to become financially fit adults? They would find out that last year, 10,118 Kansas and Missouri youth saved $1.5 million dollars, and nationwide youth saved more than $20 million. That kind of information should be kept under wraps.

No, better to ignore this important time of year. Although the marketing materials, creative ideas and resources for Youth Month are free, it takes time to plan fun events at your credit union. And fun events might encourage and promote healthy savings habits to your members. 

Disclaimer: If you thought this article was “for real,” we fooled you! Credit Union Youth Savings Month helps young people recognize the value and importance of financial services and cultivates an entire generation of loyal future members. Participation in the free Saving Challenge is a credit union's opportunity to build a strong relationship with young members in your community—and their families—by reinforcing the benefits of credit union membership.