FORT WALTON BEACH, Fla. — Eglin Federal Credit Union has partnered with Okaloosa Saves to launch the annual Teach Children to Save campaign, encouraging youth across Northwest Florida to develop strong financial habits, according to Eglin Federal Credit Union.
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The campaign runs from April 1 through June 30 and is open to children ages 17 and younger.
Participants are encouraged to set a savings goal and make a deposit into a savings account. Each child who participates will be entered into a drawing, with 10 winners receiving a $50 deposit into their savings account from Okaloosa Saves.
Participating financial institutions include CCB Bank in Niceville, Eglin Federal Credit Union, MidSouth Bank, Okaloosa County Teachers Federal Credit Union, Origin Bank, PenFed in Shalimar, Renasant Bank, and United Fidelity.
Last year, 102 youths from Eglin Federal Credit Union and Renasant Bank took part in the program, making deposits totaling $27,058.82.
Since the campaign began in 2004, 2,497 children have participated, depositing a combined $420,668.34.
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Eglin Federal Credit Union President and CEO Cathie Staton said the program helps build lifelong financial skills.
“Each year, we look forward to the Teach a Child to Save campaign because building strong financial habits early in life is one of the most meaningful gifts we can give the next generation,” she daid.
“Teaching children the importance of saving not only helps them understand the value of money, but also equips them with lifelong skills in responsibility, planning, and goal setting.”
Okaloosa Saves Board Chair Laura Coale said the program continues to make a lasting impact.
“Our Teach a Child to Save campaign is a valuable program to teach children in northwest Florida the importance of thoughtful financial management,” said Ms Coale.
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“Each year, we’re excited to bring back our youth savings program because building smart money habits early makes a lifelong difference.”
Parents are encouraged to support their children by discussing budgeting and saving, opening or contributing to a savings account, introducing basic investing concepts, encouraging entrepreneurship, and modeling strong financial habits at home.
More information and program rules are available through Okaloosa Saves.
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