Junior Savers Week is launched today
Posted on: 20 Sep 2021
Junior Savers Week has launched today! The week-long campaign (September 20th – 26th) aims to raise awareness about the importance of teaching children the value of money, and encouraging kids to save.
During the week, credit unions will be running a number of initiatives to raise awareness about the importance of children saving. Credit unions will also raise awareness of the campaign by sharing helpful advice for parents - across informational leaflets, websites and on their social media channels.
Studies* show that giving kids hands-on, real-world experience with money is essential to prepare them financially for adulthood. Teaching children the value of money is a real benefit to them in the future and habits learned from an early age last a lifetime.
In a focus group of Irish parents conducted by the Irish League of Credit Unions and insights company Parents and Brands,* many parents confirmed that physical experiences – like putting coins in piggy bank or savings account, or shopping with a list, was the best way to teach children about money.
Junior Savers Reward Scheme
Opening up a credit union account for children is a simple process and credit unions will be welcoming all new junior saver members throughout the week to enjoy the fun and activity.
As part of the week, many credit unions are launching a Junior Savers Reward Scheme. Junior Savers Sticker cards will be made available for young members allowing them to track their saving journey. Each time a child lodges money into their credit union account, a sticker will be placed on their card, and a reward given once they complete it.
Ends
You can find more information on credit union children's savings accounts here. Or you can contact your local credit union to see how you can open a children's savings account today.
*Ashley B. LeBaron, Brigham Young University - 115 study participants: 90 college students aged 18-30, as well as some students' parents and grandparents. 2018.
*Parents and Brands, 3 day online panel with 60 parents, July 2021.