ROYAL OAK, Mich., April 19, 2011 /PRNewswire/ -- OUR Credit Union is proud to take financial responsibility to a new level by partnering with FamilyMint, a unique award-winning hands-on budgeting and educational application designed specifically for kids ages 5 to 16.
FamilyMint provides parents with an interactive and simple resource to help raise money-smart kids and is provided at no cost to OUR Credit Union members. With FamilyMint, kids learn by managing their own money in a safe, virtual environment, and parents act as the banker and custodian of the money. Children take the reins of their money, allocate savings, set goals, and make transactions. Parents can automate allowance, encourage savings with motivating interest rates, and reward deposits for worthwhile goals.
According to The Hartford Financial Services Group, Inc., nearly 72% of the parents surveyed acknowledged that they are their children's primary source of personal finance education, although 44% admit to needing more guidance on how to best teach their children the skills necessary to become financially responsible and successful adults.
This is where FamilyMint can help. The idea was created by two dads, Jeff Eusebio and Bob Masterson, who were frustrated with the existing tools in the marketplace for teaching sound money management skills earlier in life and helping their own kids appreciate money. "Our goal was to develop an intuitive tool that parents can easily work into busy schedules and that visually shows kids how their money can work for them," says Masterson, FamilyMint President. "What's different about FamilyMint is that the children are in the drivers' seats, organizing their money, establishing goals and working to achieve them."
Find out more about FamilyMint at http://www.familymint.com/program/ourcuonline.html
"Based on a survey of our users, parents are consistently seeing a shift in their children's thinking from the desire to spend to a curiosity about and excitement in saving," Eusebio added. "It is both a source of pride for the kids and a relief to the parents. We are excited to be partnering with OUR Credit Union because of their extensive community focus, and we know FamilyMint will be a great enhancement to OUR Credit Union's educational and youth programs."
"OUR Credit Union's goal is that our Oakey Dokey and Vibe members and their families will utilize this new tool to the max," states Rose Evers, OUR Credit Union's Community Development Specialist. OUR Credit Union has been teaching personal money management to students since 1989 and feels the investment to assist the families of the credit union, helping raise wise consumers, is priceless. OUR Credit Union is very excited to launch this new tool during National Credit Union Youth Week.
About OUR Credit Union:
Founded in 1959, as the St. Dennis Credit Union, OUR Credit Union has grown to include 4 branches, serving over 22,000 members. OUR Credit Union is a federally insured, nonprofit, member-owned, full-service financial institution that has been headquartered in Royal Oak since its inception. Any person who lives, works, worships or attends school in Oakland or Macomb County, Michigan is eligible to join.
Learn more about OUR Credit Union, by visiting: http://www.OURcuonline.org or visit us on Facebook. Find out more about FamilyMint at http://www.familymint.com/program/ourcuonline.html
Tina Dix, EVP
SOURCE OUR Credit Union