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VACU Encourages Youth Savings Through Hanover School PTAs

All In logo(Richmond, VA, September 11, 2017) – Virginia Credit Union is working with Parent-Teacher Associations at eight Hanover County Schools to offer financial education classes and provide a matching program to encourage youth savings.

The “All In” program with Hanover County School PTAs is available to students whose parents are members of the PTA at Battlefield Park Elementary, Beaverdam Elementary, Cool Spring Elementary, John M. Gandy Elementary, Kersey Creek Elementary, Mechanicsville Elementary, Chickahominy Middle School or Hanover High School. 

Under the program, VACU will conduct education on money matters for groups of students and parents at the schools. In addition, students that open a regular or youth savings account may receive up to $25 in matching funds, provided they maintain a minimum balance of $25 at the time of the award. 

“Financial education is central to Virginia Credit Union’s outreach in the community,” said Chris Shockley, Virginia Credit Union President/CEO. “Developing a savings habit is critical to putting the education into practice, so we are very happy to work with the PTAs to reward young people who begin making saving a part of their financial life.”

Carey O’Brien, President of the Hanover Council of PTAs, says she is enthusiastic about the program. “We’re excited about the partnership with Virginia Credit Union. We’re encouraged to see our PTA/PTSAs electing to participate. We hope to see many students take advantage of the opportunity to improve financial knowledge and boost their savings.”

Virginia Credit Union piloted the "All In" program with youth from the City of Richmond Mayor’s Youth Academy this past summer. As of September, 24 teens from the Academy had saved nearly $10,000 through the program.

In Hanover County, Virginia Credit Union is participating in back-to-school nights and orientation programs at the schools to meet parents and students and help them sign up for the program. Parents of students at the eight schools may also sign up by visiting a VACU branch.

A financial cooperative serving more than 263,000 members, Virginia Credit Union offers a variety of affordable banking services, loans, mortgages, and free financial education resources, with a focus on helping people be more confident with their finances. Virginia Credit Union is an equal housing opportunity lender and is federally insured by NCUA. 

Media Contact: Glenn Birch | glenn.birch@vacu.org | (804) 560-5664