Youth Week Wrap-up: A Rising Tide of Deposits Lifts All (Pirate) Boats! (5/10/2007)

(Editor's note: information provided courtesy of NC credit unions, and the Credit Union National Association.)

North Carolina Highlights

Southeast Chapter Meeting

Southeast Chapter pirate costume winner Joyce Fields of Scotland Community CU swash-buckled her way to a $40 gift card!

Ahoy, mates! A band of merry credit union pirates celebrated Youth Week at the Southeast Chapter meeting held April 12th in Fayetteville. The chapter celebrated Youth Week with a pirate costume. Attendees voted on their favorites, with Joyce Fields of Scotland Community Credit Union winning a $40 Wal Mart gift card for her winning costume effort!

NCCUL Director of Education and Financial Literacy, Ed Agnoli, keynoted the meeting of the rascally bunch with a presentation on the newly revised and updated NEFE High School Financial Planning program. "North Carolina credit unions have always strived to educate their members and community youth on personal financial matters," said Agnoli. "The results of this year’s Youth Week shows the energy and passion with which NC credit unions fulfill the mission of ‘people helping people’."    

Generations Community Credit Union

Seven eighth grade students from Rogers-Herr Middle School attended a National Credit Union Youth Week event at the Durham branch of Generations Community Credit Union. Nathan Farrior and Jelani Thompson gave a presentation on the differences between banks and credit unions, and the benefits of a credit union’s focus on serving its members. Students were encouraged to take the first step to a financially sound future by becoming a member of GCCU, and take advantage of the waived membership fee for new members during National Credit Union Youth Week.

In Henderson, Generations visited with 5th graders at Pinkston Middle School. "They were very impress with the credit union and asked many questions," said Aurora Grubbs, Henderson Branch Manager. "We handed out piggy banks and other fun items! And, since the theme was Pirates, we wore some kind of eye patch, earring or hat. Of course, I was Captain Generation…they loved it!" (Written by Stephanie Slipher and Katie Ratchford, who are interns at the NC Minority Support Center.)

North Carolina Minority Support Center

The North Carolina Minority Support Center hosted an event for a local eighth grade class in celebration of National Credit Union Youth Week. The goal of the event, held on April 24, 2007, was to educate the students about the importance of becoming financially literate and the benefits of investing in a credit union.

Seven students from the business computer technology class at Rogers-Herr Middle School participated in the event, during which they listened to presentations from staff members of Generations Community Credit Union and Latino Community Credit Union. Nathan Farrier and Jelani Thompson, of GCCU, gave a short presentation on the differences between banks and credit unions, and the merits of a credit union’s focus on serving its members. Students actively participated in the presentation by diligently taking notes and asking pertinent questions. After the presentation, students were introduced to a Member Service Representative who explained how they could become members of a credit union, and informed them that GCCU waived the membership fee for youth enrollees during National Credit Union Youth Week.

Following the presentation at GCCU, students walked to LCCU where they listened to a presentation by Erika Bell. Bell’s presentation focused on the unique services provided by LCCU to the Hispanic community. Students showed a keen interest in the history of LCCU and the barriers faced by Hispanic community members seeking a financial institution.

After their visit at LCCU, the students walked back to the Support Center where Director of Marketing and Communications Kim Knox introduced them to the staff. Students then received gift bags, which included GCCU and LCCU promotional pieces, as well as educational worksheets to help them begin the financial planning process. The students answered questions based on the information presented at each credit union, and then took a lunch break to eat pizza provided by the Support Center. After lunch, students learned how to play CASHFLOW for KIDS, a financial board game aimed at making them aware of future expenses and how to make the best possible financial decisions. During the day, the students shared their high aspirations for the future as well as their concerns about financial responsibility as they enter high school and college further down the road. The event’s features helped the students understand how to manage their money and save for their future goals. Overall, the students showed great interest and enthusiasm toward the various features of the event. (Written by Stephanie Slipher and Katie Ratchford, who are interns at the NC Minority Support Center.)

National Youth Week Results (provided by CUNA)

2007 Results from 393 credit unions

• $10,133,355.38 deposited by youth
• 71,844 youth making deposits
• 9,067 new youth accounts opened

(Note: an additional $100,000 in deposits have been reported since this year's statistics were compiled!)

2006 Results from 346 credit unions

• $9,626,748.00 deposited by youth
• 66,269 youth making deposits
• 7,624 new youth accounts opened

2005 Results from 274 credit unions

• $4,555,031.10 deposited by youth
• 35,071 youth making deposits
• 4,451 new youth accounts opened

2004 Results from 143 credit unions

• $1,391,720.00 deposited by youth
• 15,958 youth making deposits
• 1,857 new youth accounts opened