MMCCU Launches Kids Rewards Club Youth Savings Account
MMCCU is helping young people learn how to save with a new Kids Rewards Club! This is a youth savings account designed to encourage good money practices at a young age. Anyone under age 18 is encouraged to bring a parent or guardian and sign up.
Each applicant will get a free piggy bank to start saving, as well as a punch card with prizes to be accumulated over time. Youth are rewarded for deposits, as well as visits to the credit union. There will also be other prize opportunities available to account holders throughout the year, including during the child’s birthday month and during International Credit Union Week.
“It’s never too early to develop good money habits, which is why we wanted to do something to encourage kids and their families to learn about savings and credit unions,” said MMCCU President David Murphy. “April is Credit Union Youth Month, which seemed like the perfect time to introduce this new youth savings account.”
Kids Rewards Club deposits earn a higher interest rate of 3% on deposits up to $2,500 until age 18, at which point the account is automatically transitioned into an MMCCU savings account.
“We have rewards accounts for adults, too, so it makes sense to offer something to young people just starting their financial journey,” said Murphy. “It’s also fun to share information on the credit union difference!”
Membership at MMCCU is exclusive to anyone employed in a healthcare-related field and their families. There is no affiliation with any specific healthcare entity. To qualify for a Kids Rewards Club, kids must have a direct relative that qualifies. To learn more about membership, visit www.MMCCU.com/membership.
For more information on the Kids Rewards Club and other youth savings accounts, please visit www.MMCCU.com/kids or call 715-387-8686. Learn what you need to open an account HERE.