The Savings Laboratory Can Help Teach Kids to be Smart with Their Money
Designed to help encourage savings habits and financial responsibility at an early age, the SLFCU Savings Laboratory program offers an engaging way for kids to get excited about saving. Kids can learn about setting and reaching savings goals while earning prizes for their efforts.
COLLECT STICKERS IN AN SLFCU SAVINGS LABORATORY NOTEBOOK.
Do your children have a plan for their allowances or the money they receive for birthdays or holidays? At SLFCU, every time kids make a deposit of at least $5 into their primary savings accounts, they’ll be rewarded with a sticker for their Savings Laboratory notebook.* When they have collected 10 or 20 stickers, they can earn a prize.
CHOOSE A PRIZE.
Once kids have collected 10 stickers they can choose to redeem them for one of these prizes:
- $10 gift card to Barnes & Noble
- $10 gift card to the New Mexico Museum of Natural History & Science
Or kids can wait, collect 20 stickers, and redeem them for a bigger prize:
- $25 gift card to Barnes & Noble
- Two Regal movie tickets
USE THE SAVINGS LABORATORY AS A TEACHING TOOL.
Use every sticker your children collect as an opportunity to discuss savings habits. Have a conversation about which prize they’re saving for and why they chose that prize. Discuss the difference between saving for a smaller prize and a bigger prize, and help them determine how close they are to achieving their goals. They can watch their savings accounts grow while working toward their specific prize goal.
Making regular deposits with your children is also a great way to teach kids how credit unions work and help familiarize them with filling out deposit forms, interacting with tellers and member service representatives, and how to review their growing account balance on their receipt.
GET YOUR SAVINGS LABORATORY NOTEBOOK TODAY.
Stop by any branch or call 505.293.0500 or 800.947.5328 to receive a notebook. To open a primary savings account for your child, you will need the child’s Social Security Number and date of birth. Additional documents, such as a birth certificate, may also be required.
*Program participation is restricted to members ages 12 and under. Deposit must be made to a primary savings account (not a custodial account). Savings Account 0.20% APY as of 10/24/2016.
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