Eglin Federal Credit Union partnered with Okaloosa Saves for the annual Teach a Child to Save campaign April 1 – June 30. Youth were encouraged to set a savings goal and make a deposit into a savings account at EFCU.
This year there were 108 youth under the age of 18 who participated with deposits totaling $18,685. Their names were entered into a random drawing for six children to win a $50 deposit into their EFCU account from Okaloosa Saves.
- Since the program began in 2004, there have been 3,386 children making deposits totaling $350,104.07.
The six winners were:
- 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 were presented a certificate by Okaloosa Saves at the Okaloosa Board of County Commissioners board meeting on Tuesday, July 19.
Chairman Mel Ponder, District 5, said, “Wise money management is such a beneficial skill to learn. 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.”
“Okaloosa Saves has been active in encouraging people of all ages to save money for life events,” said Eglin Federal Credit Union President/CEO Jerry Williams. “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.”
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. Harlow said, “It is never too soon to start teaching children to save. 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