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Earlier this year, 612 young people deposited $117,627.32 into accounts at Illinois credit unions, which participated in the third annual National Youth Week Savings Challenge, sponsored by the Credit Union National Association (CUNA).
These credit unions reported opening 97 new accounts during the savings challenge week. There were 15 credit unions in Illinois that participated in the event, with eleven credit unions reporting data.
On the national level, 346 credit unions participated and $9,626,748 was deposited during the challenge week. There were 66,269 young people who made deposits, and 7,624 new accounts were opened. The 2006 results represent nearly double the 2005 results.
The following Illinois credit unions participated in the youth savings week challenge: Area Educational CU, Atlas Community CU, Baxter CU, Cornerstone CU, Danville Consolidated CU, Earthmover CU, First Illinois CU, Hawthorne CU, Illinois State Police FCU, Kane County Teachers CU, MEA CU, Olin Community CU, Scott CU, Sherwin Williams ECU, and SIUE CU.
|
Year
|
Participating
CUs
|
Amount of Youth Deposits
|
Youth Making Deposits
|
New Youth
Accounts Opened
|
|
2006
|
346
|
$9,626,748
|
66,269
|
7,624
|
|
2005
|
274
|
$4,555,031
|
35,071
|
4,451
|
|
2004
|
143
|
$1,391,720
|
15,958
|
1,857
|
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