FORT WALTON BEACH, Fla. – Through the combined efforts of Eglin Federal Credit Union and Okaloosa Saves, youngsters in our community set savings goals and deposited over $18,000 into savings accounts over the past three months.
The annual Teach a Child to Save campaign ran from April 1 to June 30, 2022. It encouraged youth to set a savings goal and make a deposit into a savings account at Eglin Federal Credit Union (EFCU).
This year there were 108 participants under the age of 18 who made deposits totaling $18,685. Since the program began in 2004, 3,386 children have made deposits totaling $350,104.07.
“Okaloosa Saves has been active in encouraging people of all ages to save money for life events,” said Jerry Williams, EFCU President and CEO.
“We are proud to have partnered with Okaloosa Saves for 18 years to help teach children the importance of saving, and we look forward to this program every summer.”
Participants in the savings program were entered into a random drawing for a chance to win a $50 deposit into their EFCU account from Okaloosa Saves. There were six winners.:
- Genesis Albright, Fort Walton Beach
- Dorothy Kollar, Fort Walton Beach
- Mason Mueller, Fort Walton Beach
- Nathan Smith, Crestview
- Ruby Smith, Mary Esther
- Soulina Sellers, Destin
The six winners received a certificate by Okaloosa Saves at the Okaloosa Board of County Commissioners meeting on July 19.
“Wise money management is such a beneficial skill to learn,” said Mel Ponder, board chairman.
“The knowledge our youth gain in the Teach a Child to Save program will positively impact them now, their future families, and businesses right here in our community in the years to come.”
Sherry Harlow, APR, serves on the Okaloosa Saves Board as the Treasurer and donated $1,000 to help with the Teach a Child to Save campaign.
“It is never too soon to start teaching children to save,” said Harlow.
“Helping them to develop good saving and spending habits in their youth can carry over into adulthood, especially in having funds for emergencies.”
Savings Tips for Parents:
- Talk about the importance of budgeting and saving money
- Visit your local EFCU branch to open a savings account or deposit into an existing account
- Teach the basics of investing
- Encourage them to be entrepreneurs
- Be a role model
Visit www.eglinfcu.org for news and financial education updates.