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Over $500 Deposited by Young Lads and Ladies at Pickens Federal Credit Union!

Predatory lenders and financial services scallywags beware! Young members at Pickens Federal Credit Union deposited over $500 into their saving accounts during the National Youth Saving Challenge, demonstrating that they understand that saving money is one of the most important pillars of financial freedom.

Pickens Federal Credit Union participated in the fourth annual Saving Challenge, held in conjunction with National Credit Union Youth Week in April, to encourage young members to open new accounts and make savings deposits throughout the week. The theme for Youth Week was “Stash Your Cash at Your Credit Union.”

The Credit Union National Association (CUNA) sponsored a drawing for 10 prizes of $100 each. Pickens Federal Credit Union was one of the credit unions that were selected at random from those who reported their Saving Challenge results. The $100 prize was presented to Cameron Holder, age 11, at the Pickens Federal Credit Union Annual Membership Meeting on Thursday, May 10.

"Our Annual Membership Meeting was the perfect venue to award the $100 Saving Challenge prize to one of our young members. We were pleased with the participation in National Credit Union Youth Week, with 25 new youth accounts opened during the week. It was icing on the cake that we were selected as a one of the Saving Challenge winners,” reports Brenda Wires, president of Pickens Federal Credit Union.

This year, 393 credit unions participated in the Saving Challenge and reported over $10 million in deposits from 71,844 young members. Additionally, credit unions also welcomed in 9,067 new member accounts.

“The impressive results of this year’s saving challenge show that young credit union members truly understand the importance of one of the most basic, albeit most fundamental, pillars to financial independence,” said Dan Mica, president and CEO of CUNA. “Warmest congratulations to the credit unions and the young members who opened accounts and saved so diligently – they have started down the road to financial health and freedom."