Partner with local schools to offer financial education
Early experience with operating a financial account, in conjunction with financial education, can establish healthy lifetime financial habits.
Collaborate with local middle schools or high schools to deliver financial education or help to operate on-campus credit union branches.
To get started:
Reach out to local schools to identify interest in collaborating.
Create a program designed to increase financial experiences, such as an in-school credit union branch.
Provide a financial education curriculum, utilizing volunteers from your company.
Best Practices / Innovative Programs
The National Credit Union Administration (NCUA) has created FAQs for financial institutions interested in establishing a youth savings program. Considerations include filing for a branch application; minimum balance requirements and maintenance fees; the legality of opening an account for a minor without an adult custodian or co-owner; the legality of minors withdrawing funds from the aforementioned accounts; and state and federal consumer financial protection laws and regulations.
