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Restoring the Lost Art of Piggy Bank Savings
After the recession, families are realizing the importance of saving versus getting buried under credit debt, returning to the simple principals of piggy bank savings and teaching their children to form positive financial habits. I know that we do that with our children. We want them to learn as much as possible about being financially responsible. We want them to understand money.
KIDS AND MONEY
It is important to teach kids the value of money by engaging them in family budgeting or let them shop with their own money to learn what things costs. We use things like this to teach our children:
- Saving is fun – set a family goal to save up for a treat and use a separate piggy bank for this activity to make it special.
- You can’t keep it all. Spend wisely to allocate the family budget to include donating, saving, and still spending some for fun.
Most people already know the benefits of credit unions, such as customer ownership, fewer fees and higher savings rates. However, there is a segment of credit unions that continue to fly under the financial radar: Affinity-based banking — the intersection of faith and financial planning.
A financial institution that offers business and consumer banking services then invests profits in social causes and shows a demonstrable return like a business. Meet ECCU:
For most of its 50-year history, ECCU has been known for offering churches, Christian schools and other Evangelical nonprofits and ministries with specialized financial services. ECCU continues to expand this core commercial customer focus, while rolling out additional personal financial services:
- Personal savings account — a basic savings account for an emergency fund or savings for your kids that’s only $25 to open and has a 0.35% APY2 with no minimum balance.
- Money Market Savings account – a great opportunity to earn a higher rate (up to 0.95% APY2 on higher balances. Perfect for your family’s savings.
- Consumers can get these terms because ECCU is largely an online bank. This direct savings account — also called an online savings account — appeals to on-the-go consumers who prefer to be able to manage their lives online.
With ECCU, your money does more than earn a good interest rate for you. It helps fuel Christ-centered ministry worldwide by providing loans to churches and low-cost banking services to missionaries and Christian organizations. Together, you + ECCU = supporting and resourcing more ministry. Plus, if you open a Money Market Savings today, ECCU will donate $50 to International Princess Project to help fight human trafficking in India.
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“SAVE WITH ECCU” $1,000 GIVEAWAY!
Enter below for a chance to win $1,000. The contest runs from March 5 – April 10, 2015. The qualified winner must open an ECCU Money Market Savings account where the $1,000 will be deposited. Click here for official rules.
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