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How to teach children to begin saving

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Posted at 1:45 PM, Apr 27, 2016
and last updated 2016-04-27 15:45:41-04

It's never too early to start teaching children about saving money. With April being National Youth Savings Month, our financial expert Rachel Langlois with Cyprus Credit Union shared some great ways on how to educate children about saving.

Cyprus Credit Union is giving kids $5 to open up their first account, called Dollar Dog Accounts. These are savings accounts for children under the age of 12. Each child gets a cute dollar dog stuffed animal while learning how to save with a savings passport and stamp card. With this program, they earn $10 gift cards after every 10 $10 deposits to motivate them to save. The gifts cards are to places  like Build-A-Bear, McDonald's, Walmart, etc. as incentives for children to save their money. By using the program it shows children that if they save and wait they get more in return.

There is a great giveaway going on through Facebook where parents can enter on their child`s behalf and Cyprus Credit Union will deposit $50 into their child's account. Also for National Credit Union month there is a coloring contest going on. Children can color a sheet and turn it in by May 2nd to be entered to win $25 for their savings account.
For more information, visit cypruscu.com.