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.”
Eglin Federal Credit Union President/CEO Jerry Williams said, “Okaloosa Saves has been active in encouraging people of all ages to save money for life events. 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
Follow EFCU on Facebook, Instagram, YouTube and LinkedIn or visit www.eglinfcu.org for news and financial education updates. If you are interested in working at EFCU, check out Careers at EFCU. Learn how you are Eligible to Become an EFCU Member (eglinfcu.org/join/).
For additional information, visit Okaloosa Saves on Facebook: www.facebook.com/okaloosasaves.
About Eglin Federal Credit Union
Eglin Federal Credit Union was chartered in 1954 and is a not-for-profit, member-owned financial institution, federally regulated by the National Credit Union Administration. Membership includes military and civilian personnel on Eglin Air Force Base, Hurlburt Field and Duke Field as well as affiliates of Select Employee Groups in Okaloosa, Santa Rosa and Walton counties. In addition to military and SEG affiliations, our membership also includes anyone living or working within our Geographic Field of Membership. Our Mission is to provide our members with five-star service, support and solutions to simplify their financial lives. Funds in your account(s) with us are insured by the National Credit Union Administration to at least $250,000 and backed by the full faith and credit of the United States.