VACU Urges Youth Savings Through Hanover County PTAs
(Richmond, VA, September 24, 2018) – Virginia Credit Union is working with Parent-Teacher Associations at 14 Hanover County Schools to offer financial education classes and provide a matching program to encourage youth savings.
The “All In” program with Hanover County School PTAs is available to students whose parents are members of the PTA at 14 Hanover County Schools – Battlefield Park Elementary, Beaverdam Elementary, Cold Harbor Elementary, Cool Spring Elementary, John M. Gandy Elementary, Kersey Creek Elementary, Laurel Meadow Elementary, Mechanicsville Elementary, Pearsons Corner Elementary, Pole Green Elementary, Chickahominy Middle School, Oak Knoll Middle School, Stonewall Jackson Middle School, and Hanover High School.
Under the program, VACU will conduct education on money matters for groups of students and parents at the schools. In addition, students that open a regular or youth savings account may receive up to $25 in matching funds, provided they maintain a minimum balance of $25 at the time of the award.
Last year the program helped 205 Hanover County Students save more than $200,000.
“Developing a savings habit is critical to financial success,” said Chris Shockley, Virginia Credit Union President/CEO. “We are very happy to work with the PTAs to reward young people who begin making saving a part of their financial life.”
Carey O’Brien, President of the Hanover Council of PTAs, says she is enthusiastic about the program. “We’re excited about the partnership with Virginia Credit Union. We’re encouraged to see our PTA/PTSAs electing to participate. We hope to see many students take advantage of the opportunity to improve financial knowledge and boost their savings.”
Virginia Credit Union piloted the "All In" program with youth from the City of Richmond Mayor’s Youth Academy this past summer. As of September, 24 teens from the Academy had saved nearly $10,000 through the program.
Parents of students at any of the 14 participating schools in Hanover County may also sign up their son or daughter for the program by visiting any Virginia Credit Union location.
A financial cooperative serving more than 270,000 members, Virginia Credit Union offers a variety of affordable banking services, loans, mortgages, and free financial education resources, with a focus on helping people be more confident with their finances. Virginia Credit Union is an equal housing opportunity lender and is federally insured by NCUA.
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