Nolan McKenna, pictured with Senior Branch Manager Vic Etcheverry, is the first Sunshine Coast youth to take advantage of the Humanomics Youth Savings Account; uniquely aimed at creating a nation of smart savers by matching the youth’s contributions, up to $125. What’s Nolan saving for? “A few things,” he said, ” like repainting my hockey helmet, and our family vacation to the Atlantic.” Photo submitted
This week is National Youth Week, and a new national Ipsos-Reid survey reveals only 44 per cent of Canadian parents speak with their children about money, finances, budgets and savings. Conversely, the poll indicates 94 per cent of parents agree that if Canadian youth are taught about savings at an early age, it will lead to better financial management practices.
Sunshine Coast Credit Union (SCCU) is one of five Canadian credit unions that are on a mission to create a nation of smart savers, launching an initiative that demonstrates the unique way in which credit unions do business: Humanomics – where people matter, community matters.
The first Humanomics initiative, is Canada’s first-ever Youth Savings Account – offered specifically only to 11- and 12-year olds. The account rewards good savings behavior with a high level of interest and up to $125 in matched savings.
SCCU CEO Shelley McDade is available to speak to schools, PACs and other groups about the Humanomics initiative and the Youth Savings Account, as well as the importance of financial literacy for our youth.
For more information visit humanomicscu.ca