Monkey See, Monkey Do

We'd be 'lion' if we said saving was easy.

It's time to get Wild About Savings. Teach children how to save for their goals and they'll have on of the most difficult aspects of finance under their belt by the time they're teens - being consistent savers.

Here are a few items to help your cubs get Wild About Saving:

  • Have young children - preschool age - sort different types of money into piles by color and size.
  • Play store or credit union/bank.
  • Help them use a pretend cash register.
  • At the grocery store, let children of all ages help you shop.
  • Teach them how to comparison shop - for example, show them that for every $4.85 box of cereal, there may be similar brands on sale for half as much.
  • As children get older, let them know what things cost.
  • Share sales receipts and bills that you receive for items or services you've purchased for them. If you decide to pay your children an allowance, include them in the decision.

Discuss allowance amounts and what they should use their allowance for. The amount is your call, but allow their input. One idea is to have children set aside part of their allowance for spending, part for savings, and part for sharing. Explain what you'll pay for and what they should be responsible for. For example, when you're at the movies, maybe you agree to pay for movie tickets, but the Milk Duds are on them.

*As they reach high-school age, clarify what you will pay and what your teens are responsible for.

Get your children started right financially. Whether you're a young saver or the parents of someone who you would like to encourage to start being financially responsible, RCUs Pee Wee and Teen Central Accounts are a great way to started. Bring them in to Railway Credit Union and start saving right away!

Pee Wee Club

  • Members Ages 011
  • Birthday Card Mailing
  • Free Gift at Account Opening
  • Pee Wee Club Exclusive Events
  • Interest Earned on Daily Balances Over $100.00

Teen Central

  • Members Ages 12-17
  • Free Gift at Account Opening
  • Special Teen Central CD
  • Free Debit Card*
  • Interest Earned on Daily Balances Over $100.00
  • Free E-Services:
    • CU Online
    • Mobile App
    • E-Statements
    • Mobile Deposit

*certain restrictions apply