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Youth News

Unity Catholic Federal Credit Union Wins State Award for Youth Financial Education Efforts

Unity Catholic Federal Credit Union was recently recognized for its efforts in financial education of its younger members.

The Ohio Credit Union League, a state trade association, recently acknowledged Unity Catholic FCU’s financial literacy efforts by awarding them with The Desjardins Youth Financial Education Award, which recognizes leadership within the credit union movement regarding financial literacy targeted toward younger credit union members.
 
Unity Catholic FCU, a not-for-profit financial cooperative, received the award based on its many efforts to educate younger members of the community on making smart financial choices. Their efforts include classroom presentations to various Catholic schools throughout the Cleveland area; an annual Youth Week celebration that provides special incentives for the credit union’s younger members who develop good saving habits; its Student Savers Program, which enables students at 12 Catholic elementary schools to make deposits to their credit union accounts directly at their school when a credit union representative visits weekly; the credit union’s “Centipedes Teller Window” at which kids can make deposits into their accounts at a specially-designed three-dimensional kid-friendly teller station; and the “Chatterbox Cha-Ching” newsletter – an educational newsletter aimed at elementary and middle school students to teach them tips and trivia about money and how to manage it.
 
“We’re thrilled to have been honored with this prestigious award,” said Tam Straight-Schervish, CEO of Unity Catholic FCU. “We understand how critical financial literacy is to our younger members, and we want to make sure we’re doing what we can to teach them the importance of building good financial habits – both saving and spending their money. The programs we have implemented reach many students, and we’re proud to have our efforts recognized by the Ohio Credit Union League,” she added.
 
The League annually acknowledges select credit unions for their efforts in financial literacy. The winners of the Ohio League’s contest will advance to the national competition. The award’s namesake, Alphonse Desjardins, organized the first credit union in the United States.
 
Unity Catholic Federal Credit Union is a full-service financial institution that serves all parishioners, students, employees and corporate entities of the Catholic Diocese of Cleveland. For additional credit union information, visit them online at www.unitycatholiccu.org or call them directly at 440-886-2558.

 

Chatterbox Cha-Ching

Take a look at our NEW, newsletter geared just for you. Chatterbox Cha-Ching will always give you the winners of prizes and fun new things that Student Savers is doing at your school. We will publish the newsletter two times a year to keep you up-to-date.

Click hear to read Chatterbox Cha-Ching - May 2010

If you have questions you can email us at chatterbox@unitycatholiccu.org


Youth Programs

Unity Catholic CENTipedes (up to 12 years old)

Younger credit union members can gain insight into financial responsibility with our CENTipede Club.

All members of this club can attend a variety of special events sponsored by the credit union throughout the year. When an account is opened, the CENTipede Club member will receive a starter Piggy Bank

 


Student Savers

Our unique Student Savers program encourages school-age members to save by having their own Savings Account. One day each week, a Student Savers Representative from Unity Catholic FCU will be at school to accept savings deposits. Please check with your school to find out the scheduled day and time.

Currently, the schools that participate in the Student Savers program are: 

Date of the Week
School
Time
Monday
St. Charles Borromeo
8:00 a.m.
  Lakewood Catholic Academy 7:50 a.m.
Tuesday
St. Ambrose
7:15 a.m.
 
St. Bridget
8:15 a.m.
 
St. Mary – Wooster
8:30 a.m.
Wednesday
St. Angela Merici
7:30 a.m.
 
St. Thomas More
7:55 a.m.
Thursday
St. Leo the Great
7:30 a.m.
 
West Park Catholic Academy
7:30 a.m.
Friday
Sts. Joseph & John
7:15 a.m.
 
St. Anthony of Padua
7:45 a.m.

If you do not see your child’s school listed above, please call the credit union and talk to our Student Savers Representative about a possible program at your school.

Students

Our Student Savers program is for school-age children and young adults through the eighth grade. Nearly 1,000 local youth are involved, each developing good saving habits by having his or her own savings account and making regular deposits. Students enjoy this program that is full of surprises, special events, and a good financial foundation.

At School

One day each week, a Student Savers Representative from the credit union visits participating schools to accept deposits from student savers. Each school has a designated day, so students may plan ahead to make deposits to their Savings Accounts. Although deposits are accepted at the school as well as at any credit union branch, withdrawals must be made in person at any credit union branch.

Accounts

Like our regular Share Savings Accounts, Student Savers accounts have no service fees, can be opened with as little as $5, and pay dividends.

Special Incentives

We know that young people are motivated by rewards. That’s why we offer age-appropriate incentives for saving. From stickers to pizza parties, surprises and gifts encourage regular deposits by our Student Savers!


JAMES E. FLYNN MEMORIAL SCHOLARSHIP PROGRAM

Starting in 2009, Unity Catholic has formalized their scholarship program. The scholarship program is in remembrance of James E. Flynn. James E. Flynn was a Board member of Unity Catholic Federal Credit Union from 2002 to 2007 and Principal of St. Charles School from 1998 to 2007. He was the founder of the credit union’s school banking program now call the Student Savers Program.

SCHOLARSHIP FUNDS:
$7000 Annually

 

SCHOLARSHIPS AWARDED:
Four (4) Elementary Scholarships (for students entering Kindergarten thought 8th grade) at $500 each for a total of $2000
Five (5) High School Scholarships (for students entering 9th through 12th Grade) at $1000 each for at total of $5000

HOW THE SCHOLARSHIP IS AWARDED:
The scholarships awarded will be by a drawing. Winners must meet the qualifications below. Winners will be chosen by the Board of Directors at the regular monthly meeting in April of each year. All funds will be paid directly to the school listed on the application, on behalf of the child.

QUALIFICATIONS:

All applicants must be a member of the Unity Catholic Federal Credit Union
All applicants must be attending a Catholic school (Kindergarten – 12th grade)
All applicants must fill out a separate scholarship application form.

OTHER INFORMATION:
The application deadline is April 1 of each year.

And the WINNERS are...

On April 24, 2010, the independent auditing company Lilly & Associates pulled the winners of the James E. Flynn Memorial Scholarship for the 2010-2011 school year. We received over 850 applications. The winners are chosen by random selection.

  • Mary Gaughan won $500. She will be in the 1st grade at St. Charles Borromeo School.
  • Massimo Asturi won $500 to continue his education at St. Thomas More School. He will be in the 7th grade.
  • Devin Buffa won $500 to attend the 7th grade at St. Albert the Great School.
  • Mackenzie Mosier won $500 and will be attending 5th grade at St. Charles Borromeo School.
  • Leah Catania won $1,000 to help pay for her education at Trinity High School.
  • Rachel Koenig won $1,000 to continue her education at Holy Name High School.
  • Ellen Viancourt won $1,000 to attend Holy Name High School.
  • Megan D'Angelo won $1,000 to help pay for her education at Holy Name High School.
  • Tyler Porvaznik won $1,000 to continue his education at Walsh High School.

Congratulations to all our winners!

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