Youth financial literacy has been long central to the credit union mission. Teaching money management skills at a young age can help members make informed financial decisions throughout their lives. But as competition for younger consumers continues to grow, financial education should also be viewed as a strategic investment in member growth and long-term retention.

Why Early Financial Education Matters

Financial habits don't begin with a first paycheck. They develop gradually from a young age through everyday experiences and conversations at home.

Children and teens learn by observing the financial decisions happening around them. They begin to understand the difference between wants and needs, and recognize the value of saving. Those early lessons often influence how they approach money later in life.

For credit unions, there is an opportunity to engage younger members, too. When young members associate a credit union with trusted guidance and positive financial experiences, they're more likely to turn to us as their needs evolve.

Relationships Continue to Set Credit Unions Apart

Credit unions have something other financial institutions can't easily replicate: personal relationships.

That combination of trusted guidance and local service remains one of the credit union movement's greatest strengths.

Our people-first mission and always-local service provide opportunities that help young members build confidence with money while reinforcing trust. Parents benefit as well. Having a trusted source to answer questions, explain financial concepts and provide guidance creates value that extends well beyond opening an account.

Turning Financial Education into Long-Term Growth

Successful youth financial literacy programs do more than encourage account openings; they create reasons for families to stay engaged with their financial institution.

At Ascend Federal Credit Union, our annual Youth Month campaign is designed to introduce young members to healthy savings habits while creating meaningful opportunities for families to interact with the credit union. This year's promotion gave members age 17 and younger the opportunity to receive a complimentary $100 deposit when they opened a new youth savings account, while existing youth members were eligible for an additional promotion that encouraged continued saving. Not only does the campaign offer a jump start to young members' financial journeys, but it also provides a practical tool for parents to teach financial responsibility.

The campaign has consistently generated strong participation. In 2026 alone, Ascend opened more than 3,600 new youth accounts during the promotional period.

Ascend member, Emily McAnally, shared that opening youth savings accounts for her daughters quickly turned into weekly visits to their local branch. Those trips became opportunities to make deposits, track savings progress, and reinforce financial lessons together as a family.

McAnally described Ascend as feeling "more like a community" than "a transactional business environment," underscoring the value of personal relationships in an increasingly digital financial landscape.

While every credit union's approach may differ, the lesson is consistent: youth financial literacy initiatives are most effective when they create opportunities for ongoing engagement.

Best Practices for Credit Unions

We’ve found that offering meaningful incentives that encourage families to take the first step is a great place to start. It’s also crucial to make the account-opening process simple while ensuring branch employees are prepared to turn each visit into a positive experience.

Most importantly, continue to engage with families after the account is opened. Financial literacy shouldn't end with a young person’s first deposit; it should grow alongside the member through every stage of life. If you establish your credit union as a trusted resource for them from an early age, you’ll be top of mind when they need guidance later on.

Investing in the Next Generation

As financial institutions seek to engage younger generations, those that invest in education early are doing more than teaching healthy financial habits. They're establishing trust, strengthening families, and positioning themselves to serve members through every financial milestone ahead.

When credit unions help young people build a strong financial foundation, everyone benefits. Members gain the knowledge and confidence to make informed decisions, families build healthier financial futures, and credit unions cultivate relationships that last a lifetime.

Ascend is federally insured by the NCUA.