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Get in the Savings Game!
Start Th em Young to Learn the Savings Game
Join the savings team! By teaching kids how to save for their goals, they'll have one of the most difficult aspects of saving under their belt by the time they're teens—being a consistent saver.
Here are just a few examples to help teach kids of different ages about the savings game:
* Have young children—preschool age—sort different types of money into piles by color and size.
* Play grocery store or credit union/bank. Help them use a pretend cash register.
* At the grocery store, let kids of all ages help you shop. Teach them how to comparison shop—for example, show them that for every $4.99 box of cereal, there may be similar brands on sale for half as much.
* As kids get older, let them know what things cost. Share sales receipts and bills that you receive for items or services you've purchased for them.
* If you decide to pay your kids an allowance, include them in the decision. Discuss allowance amounts and what they should use their allowance for. The amount is your call, but allow them input. One idea is to have children set aside part of their allowance for spending, part for saving, and part for sharing. Clarify what you'll pay for and what they should be responsible for. For example, when you're at the movies, maybe you agree to pay for a small drink and popcorn, but the Milk Duds are on them.
* Show children what compounding interest means. Explain that as kids save, they're constantly earning dividends on their savings—on top of that, they're earning dividends on their dividends.
* As kids reach high-school age, clarify what you will pay for and what your children are responsible for. For example, your kids may want the newest cell phone that comes with a really high price tag. Establish your spending limit. If they still want the more expensive version, have them make up the difference. Often, once the responsibility of paying for items is on kids, the "latest and greatest" aren't so important.
Get your kids started right financially and see how they can get in the savings game at Spirit of America Federal Credit Union!
For more information, contact us at 402-467-1102 or 800-998-2519.
Copyright 2010 Credit Union National Association Inc. Information subject to change without notice. All other rights reserved.
Your Credit Union offers three different clubs. The Saving Safari club is for children 12 and under. CU Succeed is for young adults ages 13 to 18. The Double Nickel club is for our members ages 55 and better.
Saving Safari
Members 12 and under
This club is exclusively for our members who are 12 years of age and younger.
This club is to help you save money and have fun while doing it. There are special events for all club members at different times of the year.
Every time you make a deposit into your account you receive a gift and when your balance is increased by the following amounts you will receive these special gifts:
$250 T-Shirt
$500 Book Bag
$750 Stuffed Lion
(Only two per year may be received.)
CU Succeed
 This is our club for our members ages 13 to 18. Please contact the Credit Union if you would like to receive a current copy of the CU Succeed Newsletter.
Click here to go to the CU Succeed website.
Double Nickel
The Double Nickel Club is for our long-term members . . . those who have supported us over the years. The Double Nickel Club is our way of saying "Thank You"!
Members 55 years or better in age are eligible to join the Double Nickel Club and take advantage of the many benefits it offers. To join you will need to have the following:
A Direct Deposit into your share/savings account or share draft/checking account and one of the following:
- An Individual Retirement Account (IRA)
- A Share Certificate, or
- Maintain a minimum $2,000 balance in your share savings account
As a long-time member of the Credit Union, you've always appreciated the unique benefits credit union membershiop has provided. Here is a list of some of the benefits of being in the Double Nickel Club:
- FREE Money Orders
- FREE Cashiers Checks
- FREE No minimum balance checking accounts
- FREE No annual fee VISA Check Card
- FREE Box of checks annually
- FREE Notary Public Service
- FREE Limited use of photocopy machine
- and many, many more!!
Contact the Credit Union to find out more about the Double Nickel Club and to join today!
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