When we heard about this program, we just knew we had to share it!
The Boulder Dam Credit Union has been working with our local elementary and middle schools to help kids learn about the hows and whys of saving money, and learning a little financial discipline along the way.
Working in tangent with the schools, teachers and parents, the youngsters get their own savings account opened in their names. Then, each week several workers from the BDCU come to the schools and the participating children are given the opportunity to take whatever money they have from allowance or earnings, and deposit it into their account!
They are given rewards each week and keep their funds in their ‘Moola’ bags you see provided by the credit union.
I went to Michell to see them in action and get to talk to the kids. When I asked what they would do with their savings, one little girl told me she was saving up for a Kindle. Another little boy told me he was saving up so that ‘he could buy stuff when he has a son or daughter’ later in life!
Lois Czarniak, of the Boulder Dam Credit Union coordinates the administration of the program. She tells us that they have had as many as 90 different children in one week make deposits into their accounts. She’d love to see them break 100!
All of the ladies from the Credit Union seemed to know and recognize the children as they come up to make their deposits. We saw everything from pennies made on a single deposit, to $5 or even more. There was one very industrious little boy who deposited $20 on the day I was there, and they tell me he earns it all, doing odd jobs including taking care of other people’s pets. (Large deposits are confirmed with the parents/guardians of the children.)
You’ve got to love the creativity on this program, and the industriousness of these kids as their learn a work ethic, get to practice a little financial discipline along the way, and understand the power of saving money. Thank you Boulder Dam Credit Union for creating this program!
If you’d like to learn more or have your child participate, please inquire at their school, or the BDCU at 702-998-9270, and they’ll be happy to get your child set up!