Youth Savings: Insight from Practice

Financial Literacy Education Commission

February 25, 2015

Gigi Hyland, Director

National Credit Union Foundation
Foundation Background

• Chartered as the Credit Union National Association 

(CUNA) Foundation in 1980, we served as a standard 

trade association foundation for our first decade.

• In 1991, the Foundation reorganized to become a true 

charitable foundation focused on the needs of 

consumers and credit unions’ unique ability to meet 

those needs. 

• Today, the Foundation remains closely aligned with the 

CUNA. We are widely recognized as the national 

charitable arm of America's credit union movement. Our 

mission is to be a catalyst to improve people’s financial 

lives through credit unions.
NCUA Call Report Data
Youth Savings in Practice

• 259 credit unions nationwide self-report 

operating 876 in-school and youth-centered 

based branches.

• National Youth Savings Challenge – Hosted by 

CUNA and sponsored by Green Path® Debt 

Solutions, this challenge takes place annually in 

April and is held in conjunction with National 

Credit Union Youth Week. Last year at least 

95,000 young credit union members deposited 

$20.5 million into their saving accounts during 

this national event – with 8,844 of these being 

new accounts.
Youth Savings in Practice

• The National Youth Involvement Board (NYIB; 

www.nyib.org) is a volunteer organization whose 

mission is to equip the credit union industry to 

reach youth.

• To that end, NYIB’s website has a host of 

resources and a reporting database where credit 

unions can document youth financial education 

presentations. Statistics for 2013/14 are shown 

below:
Youth Savings in Practice

• 295 credit unions nationwide offer one or more of 

CUNA’s youth and young adult microsites (Googolplex, 

Guides to Independence, and MoneyMix). Combined 

these credit unions serve nearly 15 million members.

• Through CUNA, the Desjardins Youth & Adult Financial 

Education Awards Program is a national program which 

recognizes exemplary credit union, chapter, and state 

credit union trade association efforts to improve youth 

and adult personal finance knowledge and skills. You 

can find descriptions of past awards winners at: 

http://www.cuna.org/Footer/Awards/Past-DesjardinsAward-Recipients/
Youth Savings in Practice: The 

Foundation’s Work

• In partnership with PBS, Biz Kid$ is a youth 

financial literacy initiative that inspires kids 

to think about their future and empowers 

them to make smart financial decisions 

through an award winning TV series, free 

classroom curriculum mapped to each 

state’s specific financial literacy criteria, and 

outreach activities for kids ages 9-16.

• Impact: Since 2008, the Biz Kid$ series 

has reached over 65 million viewers.
Youth Savings in Practice: The 

Foundation’s Work

• High School Financial Reality Fairs – Through 

grants from the Foundation, state credit union 

trade associations, credit unions and other credit 

union system partners have greatly expanded 

this interactive financial literacy tool for high 

school students. 

• Reality Fairs are a hands-on experience in 

which students identify their career choice and 

starting salaries then complete a budget sheet 

requiring them to live within their monthly salary 

while paying for basics such as housing, utilities, 

transportation, clothing, and food.
Youth Savings in Practice: The 

Foundation’s Work

• Currently, 444 credit unions use CUNA’s Mad 

City Money Reality Fair experience. Credit 

unions share their experiences on 

#MadCityMoney.

• In addition, America’s Credit Union Museum, the 

Maine, Connecticut, Cornerstone, and 

California/Nevada Credit Union Leagues all 

have very strong Reality Fair programs.

• Impact: Since 2010, 104,000 high school 

students have attended over 1,050 credit union 

financial reality fairs.
Youth Savings in Practice

• Youth financial capability is a key 

component of the credit union system’s 

outreach and financial education work. 

• The credit union system is eager to work 

with the FLEC on best practices around 

youth savings to assure the generations 

behind ours are financially capable. 
Thank you!

ghyland@ncuf.coop

202/824-6282

For more information, go to:

www.ncuf.coop

“Keep purpose constant.” 

 – Edward Filene
Community Financial and Youth 

Financial Literacy Education

About us

• Assets: $600 million

• Team members: 207

• Members: 58,000

• 16th largest of 280 Michigan credit unions

• 1% of Michigan credit union assets

• .27% of Michigan bank deposits
Community Financial and Youth 

Financial Literacy Education

Our history of youth financial literacy education

• We have always encouraged youth savings

• Our first Student-Run Credit Union – 1990 

• We opened a Student-Run Credit Union in each 

community we served

• Operated by branch team members and parent 

volunteers

• Our Board recognizes need for youth education

• We hire team members dedicated to educating youth

• We recognize the financial benefits of building 

relationships with youth Picture from 1962
Community Financial and Youth 

Financial Literacy Education

Results

• Our seven Educational Partnership Coordinators 

provide:

• Student-Run Credit Unions (37)

• Junior Achievement

• Financial Life Skills Workshops

• Student Interviews

• Reality Fairs

• New relationships with parents

• Builds on our community focused brand

• Creates a strong base of young members:

• Of 11,562 accounts used in schools since 1995 -

6,759 are still open – 58% retention rate

• $9 million in deposits

• $2 million in loans

Over 20,000 Youth Reached in 2014!
Community Financial and Youth 

Financial Literacy Education

Challenges

• Finding school partners

• Justifying the cost internally

• Tracking results

• Effectiveness

• Value of the relationship

• Focusing on education
Community Financial and Youth 

Financial Literacy Education

Recommendations

• Find success stories

• Share those stories

• Create educational standards for healthy living

• Financial

• Nutritional

• Health

• Provide turnkey best practice solutions
Community Financial and Youth 

Financial Literacy Education

The difference between good and great in 

youth financial literacy education

For us:

• Are we deeply passionate about it

• Are we the best

• Does it drive our resource engine

For our school partners:

• Are they deeply passionate about it

• Are they the best

• Does it drive their resource engine
TS Institute

Financial Literacy Program

Financial Literacy for the Future!
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Title Text Box 1 Who We Are

 The TS Institute is a 501(c)(3) organization affiliated 

with TS Bank located in Treynor, Iowa.

 Created through an idea generated by the owners of 

TS Bank. Based upon the belief that America’s 

economic challenges are rooted in a general lack of 

financial literacy. 

 The Institute was created in 2009 through a 

partnership with TS Bank and the Treynor Community 

School District. The goal of this partnership was to 

create a comprehensive K-12 financial literacy 

program that meets Iowa’s Core Curriculum 21st

Century financial literacy standards.
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Title Text Box 1 What We Do

 Promote and enhance financial literacy by providing 

the following to educators and students:

 Objective, unbiased advice and reviews on 

 curriculum materials and resources.

  Consulting services to share best practices.

 Subject matter expertise on state financial 

 literacy standards.

  In-school support (lesson plan delivery, 

 assessment facilitation).

 Facilitation of in-school banking programs, 

 after school events, and events with non-profit 

 organizations.
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Title Text Box 1 What We Do

Focus Areas:

 Personal/Consumer Finance

 Banking & Financial Markets

 Insurance & Risk Management

 Economics

 Entrepreneurship 

 Program Elements:

 K-12 curriculum introduction and/or integration 

 Support infrastructure to compliment classroom 

learning (in-school banking, after school 

programs)

 Assessment tools to measure student progress

 Professional development for teachers
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Title Text Box 1 TS Institute Success Stories

 Complete K-12 financial literacy integration in Treynor. 

Every student receives financial literacy instruction 

during the school year. 

 TS Bank in-school branches at Treynor Elementary 

(Cardinal Branch), Rue Elementary (Junior Jacket 

Branch), and Thomas Jefferson High School 

(Yellowjacket Branch). 

 Since the 2010-11 school year the Cardinal Branch has 

accepted 7,827 deposits totaling $71,366. The Junior 

Jacket Branch has accepted 1,354 deposits totaling 

$10,568 since the 2013-14 school year.
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Title Text Box 1 Integrating Financial Literacy in Iowa

 Greater opportunity now than ever before due to 

the Iowa Department of Education’s 21st Century 

Skills mandate. 

 July 1, 2012 for all Iowa 9th – 12th students. 

 July 1, 2014 for all Iowa K – 8th students. 

 The Iowa Department of Education has recently 

dedicated resources to the improvement of financial 

literacy in our state. More work needs to be done 

but progress is being made.
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Title Text Box 1 Thank You!

 Bob Mantell, TS Institute Director

 Email: bob.mantell@tsinstitute.org

 Cell: (402) 680-2896

 Kyle Osborne, TS Institute Coordinator

 Email: kyle.osborne@tsinstitute.org

 Cell: (605) 480-3022

 www.tsinstitute.org
TS Institute

Financial Literacy Program

Financial Literacy for the Future!