Community First Credit Union Des Moines – Community 1. Credit Union Uses Youth Focused Clubs to Deliver Effective Financial Education to Iowa’s Next Generation
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In brief: Community 1. Credit Union provides effective financial education for youth from the Iowa community it serves through classroom education and financial clubs. The Dollar Dog Kids Club allows kids 12 and under to open a savings account and redeem rewards with Doggy Dollars. For teenagers between the ages of 13 and 17, the credit union offers Your Voice Club, which includes savings and checking options, as well as loan opportunities for customers with limited credit history. Community 1. Credit Union also goes directly to the classroom with a curriculum tailored to the needs of students. And through partnerships with EverFi and Currency Marketing, the agency continues to provide quality financial education to community members throughout adulthood.
April is National Credit Union Youth Month, a time when credit unions across the country focus on encouraging healthy savings habits among young people in their communities.
For Ottumwa, Iowa-based 1st Community Credit Union, it’s just another opportunity to do just that year-round – deliver valuable financial education tools and resources to our area’s children.
Last year’s theme was the science of saving, and saving pays off well for a child and their family, said Lindsay Gould, marketing program coordinator for Community 1 Credit Union.
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“We’re giving away trips to the Des Moines Science Center and cash prizes,” Gould said. “For the little boy who won, I think it’s an important moment in the family’s life to be able to pay for a trip like that. It’s a great moment.
She said because the boy participated in the credit union’s Dollar Dog Kids Savings Club savings program, he was entered into an annual contest and chosen at random. The grand prize is a trip for a family of four to the science center, with food and travel expenses.
The Dollar Dog Kids Club program is one of two youth-focused initiatives that encourage good financial habits at an early age. Where Dollar Dog is aimed at children aged 12 and under, Your Voice Club is aimed at teenagers aged 13 to 17 years.
“For both programs, financial education is a big boost for us,” Gould said. “We go to schools and make connections. We want to teach kids about finances, how to be responsible with their money and the difference between good and bad financial decisions.
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1st Community Credit Union was founded in Ottumwa, Iowa in 1936 as Dain Employees Federal Credit Union. The agency saw steady growth throughout the 20th century, then in the early 2000s began expanding by opening several branches in southeast Iowa. Today, the credit union has more than 58,000 members and more than $650 million in assets.
Gould said First Community Credit Union believes that the more financially educated community members are, the more successful they will be. Then, the success of community members translates into greater success for the credit union.
“The Dollar Dog Kids Club program is a great way to reach kids and start them thinking about things like saving at an early age,” he said. The main focus of the program is to develop good savings habits instead of checking accounts, he said, because children under 12 should not have a checking account.
Dollar Dog Kids earn one Doggy Dollar for every $10 they deposit into their bank account, up to a maximum of $100 per day.
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Gould said Dollar Dog participants can use their Doggy Dollars to redeem prizes, which change every few months. Today’s redemption prizes include Doggy Dollar bracelets, pencils and pencil sharpeners, fidget spinners, water bottles and the grand prize – a $5 Wal-Mart gift card redeemable for 20 Doggy Dollars.
When Gould spoke with us, the team was preparing for this year’s National Credit Union Youth Month, which he said is always a good time to reach more kids in the community.
“We have a double Dog Dog offer and lots of different contests throughout April,” he said. “We want kids to be involved and we want them to feel safe coming here.”
He said credit unions want to make sure kids know they can ask them anything they want about savings and finances, and Gould and his team are here to help.
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Gould said this year’s National Credit Union Month theme is “The Future Is Yours…Imagine! Save! Share!” The grand prize is a Polaroid camera for the kids.
Community 1st Credit Union’s Your Voice Club is similar to the Dollar Dog Kids Club in that it strives to provide valuable financial education to its members, Gould said, but instead of targeting children ages 12 and younger, Your Voice Club is for teens between the ages of 13 and 13. old and 17 years old.
“Here at Komunitas 1st Credit Union, we feel that teenagers and young adults in our community don’t get a voice when it comes to their financial needs,” according to the Sora You website. “With the launch of our Your Voice programme, we let 13-17 people speak.
Your Voice Club for teenagers aged 13 to 17 offers savings and current accounts tailored to their needs. Loan opportunities are available to young adults 18 and older with limited credit history.
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Gould said the credit union is committed to helping teens and young adults get started financially. One sound way you can do that is to offer a checking account with options and benefits that are suitable for teenagers.
Credit unions also promote financial education more broadly for Your Voice Club members, as they are at an age where they begin to face real-life financial decisions.
“Financial education is more important than ever, especially for our youth,” the website says. “By determining how to make smart money choices and understanding basic financial principles, we can ensure that today’s children and young adults have the tools to succeed in tomorrow’s economy.”
In addition to your Voice Savings and Checking Accounts, Community 1st Credit Union offers debit cards for members with Kasasa® Cash and Kasasa® Cash Back accounts. Casasa accounts offer cashback opportunities for maintaining a certain monthly engagement level.
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Your Voice also provides loan opportunities for young adults with limited credit history through our auto first buyer program and student loan offers.
Not only does First Community Credit Union provide a variety of financial education resources for children on its website, but Gould said it often goes directly to classrooms to educate children in the community.
“We’re targeting about 15 different communities, mostly in southeast Iowa,” he said. “Spring is a very busy time when teachers try to get guest speakers into the classroom before school starts for summer.”
He said he now speaks about an hour a week. In the fall and winter, Gould usually makes two class visits per month.
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“Going into the classroom is one of the most satisfying parts of my job,” Gould said. “The children’s questions are very delicate. It’s amazing what middle school and high school students think about these things. It shows that what we teach them is really telling them. “
“Some teachers wanted us to talk about loans, while others asked me to prepare a lesson on budgeting,” Gould said.
The educational materials and curriculum developed by Gould are based on resources provided through a partnership with Community 1st Credit Union and It’s a Money Thing. The company offers more than 30 different modules on various financial topics aimed at young people.
While the credit union prioritizes financial education efforts for youth in its community, Gould said the agency also partners with EverFi to provide financial education resources for adults.
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“With our scalable learning solutions, we empower organizations everywhere to instill knowledge about critical topics in classrooms, offices and communities,” according to EverFi. “Together, we connect education to the real world and open new doors of opportunity for everyone.”
Gould said that through partnerships with EverFi and Currency Marketing, the credit union can provide continuity in its financial education efforts from childhood to adulthood. member
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