GPO Federal Credit Union

*For kids from newborn - 12 years old. Direct deposits and/or transfers from other accounts do not count towards the incentive awards. Gifts available while quantities last. Not responsible for lost or stolen ID Cards. Maximum of 5 punches per day. Children must be present to earn punches.

Good Money Habits for Kids!

It’s never too soon to teach your kids good money management skills. Statistics show that children today have more disposable income than ever before... and they’re spending at a rapid rate. Of course, spending is easy; but learning to save is crucial for their success in later life.

If you haven’t yet opened a savings account for your child, do it now. All it takes is a $5 membership fee and a $5 minimum deposit to a savings account for members under 18. Then show your children how to make their money grow.

Here are some guidelines that will help:

Help your children set savings goals, and make sure they are REALISTIC!
These may include making weekly or monthly deposits, or saving a specific amount over a period of time, or saving to purchase a special item.
Save, Spend, Share
Have your child divide his/her money equally into three banks, one to spend, one to save, and one to share/donate.
Show you value your children’s efforts by rewarding good savings habits.
Rewards may be as simple as a milk shake on the way home from making a deposit at the Credit Union, or a movie when a savings goal is met. Or, if your child is under 12, open up a GPO Kids Only Savings Account and they can earn great gifts for their deposits! Visit your nearest GPO branch for details.
Let GPO help teach your teen about money with online self-learning education modules and podcasts!

Regularity is the key. A child who gets “hooked on” building wealth through saving is less likely to get “hooked” into debilitating credit card debt later on. Good habits are one of the best things we give our children -- good habits last a lifetime!