Ann Arbor, MI (PRWEB) September 13, 2011
How confident are young folks these days that they will obtain their economic goals? A Wells Fargo survey found only five percent of people age 18 to 21 are confident they will achieve their financial goals and according to a Jump$ tart Coalition survey, 18 to 24 year olds are the fastest growing age group in the U.S. filing for bankruptcy. In addition, Charles Schwab?s 2011 Teens and Money Survey showed a notable decline in monetary literacy compared to 2007. One credit union in New York is doing something about this.
Shelly Gayring, Assistant Manager, Liverpool CS FCU says, ?Liverpool Federal Credit Union is deeply rooted in education. The credit union was founded in 1956 to serve the Liverpool Central School District Workers and now contains the junior and senior students in our field of membership. We feel that financial education is key to developing a excellent foundation for our children?s economic future. We are usually looking for methods to assist each teachers and parents by delivering monetary literacy resources at no cost. Some of the techniques we do this is by providing NEFE workbooks for business students at LHS, Guest speaking on budgeting and credit each and every semester, offering Cub Account and Cub Times monthly newsletters for our little savers, and now providing a amazing resource by partnering with FamilyMint!?
FamilyMint is an award winning on the internet funds management application that assists parents raise income-intelligent children and helps busy families be smarter about income. FamilyMint has developed a exclusive partnering platform to help credit unions in educating, attracting and retaining the youth market.
FamilyMint is the only budgeting and objective-setting tool accessible via credit unions where kids 5 to 16 discover by in fact managing their own income in a secure, virtual environment. It is the modern day replacement for the piggybank as properly as an introduction to on the internet banking and is designed to begin forming the appropriate financial behaviors in an interactive, enjoyable and straightforward way even though emphasizing the significance of saving, setting and achieving goals.
By way of a co-branding plan, credit union members acquire totally free access to FamilyMint?s Premium version. This includes access to FamilyMint Mobile, and other enhancements that allow parents to automate allowance, add motivating interest payments to kids? accounts, and lock accounts meant for lengthy-term savings goals.
According to Shelly Gayring, ?FamilyMint makes it effortless for both parents and teachers to teach about budgeting, saving and financial goals in a enjoyable and interactive way. They provided quality resources by offering each a parent/teacher page and child pages on their website.?
And Karen A., a FamilyMint user says, "FamilyMint is wonderful. The graphs & visualization have entirely turned things around. The kids are operating together to save. FamilyMint takes care of managing the small things. So many occasions we had been missing opportunities to teach the youngsters lessons. Now everybody has more manage. I've been emailing all my friends. I heard about it by means of my credit union & by no means would have believed to appear for something like this on my own. It's a fabulous thing that I wish I had when the kids had been younger!"