Eglin Federal Credit Union partnered with Okaloosa Saves and Renasant Bank for the annual Teach Children to Save campaign April 1 – June 30. Youths were encouraged to set a savings goal and make a deposit into their savings account. Their names were entered into a random drawing for six children to win a $50 deposit into their savings account from Okaloosa Saves. Winners were invited for recognition prior to the Okaloosa Board of County Commissioners budget meeting on Tuesday, July 22, where they received certificates.This year, 102 youths from Eglin FCU and Renasant Bank under the age of 18 participated in the Okaloosa Saves Teach Children to Save campaign, with deposits totaling $27,058.82. Since the program began in 2004, 2,497 children have made deposits totaling $420,668.34.
The six winners were:
Thomas Chambliss, Crestview
John Hague, Navarre
Hannah Lichlyter, Shalimar
Tayvon Reynolds, Crestview
Michael Smith, Crestview
Teja Zary, Mary Esther
“Okaloosa Saves, Teach Children to Save is a valuable program to teach our children the importance of thoughtful financial management,” said Okaloosa County Board Chairman Paul Mixon. “We appreciate the values and strategies this program has been building throughout the years and how it has provided the necessary foundation of financial stability for these children as they grow into adults.”
Eglin Federal Credit Union President and CEO Cathie Staton said, “Each year, we’re excited to bring back our youth savings program because building smart money habits early makes a lifelong difference. For two decades, Eglin FCU has proudly teamed up with Okaloosa Saves to champion financial education in our community, and we’re committed to continuing this important work for many years to come.”
Sherry Harlow, APR, who serves as treasurer on the Okaloosa Saves board said, “It’s been an honor to serve on Okaloosa Saves for 22 years and witness the real impact of the Teach Children to Save program. Seeing local youths save over $420,668 is a powerful reminder of how early financial education can shape brighter futures.”
Savings Tips for Parents:
• Talk about the importance of budgeting and saving money
• Visit your local EFCU branch to open a savings account or deposit into an existing account
• Teach the basics of investing
• Encourage them to be entrepreneurs
• Be a role model
