Exploring Youth Accounts Today Vivienne Miller Findings and Recommendations

Exploring Youth Accounts Today

Vivienne Miller

Findings and Recommendations

Purpose• Gain insights into the financial market today• Discover effective ways of reaching and serving kids & teens• See what opportunities exist for Congressional Federal’s current product

offerings

Credit Unions and Banks I Explored• Credit Unions:

• Congressional Federal• Navy Federal• Apple Federal• Arlington Community Federal• Northwest Federal

• Banks:• Wells Fargo• Bank of America• Citibank• US Bank• PNC Bank

https://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&uact=8&docid=TI8ec4-gdAqoVM&tbnid=8kYNCBajUeK5DM:&ved=0CAUQjRw&url=https://www.savvymoney.com/yourcreditunion/&ei=TI7GU_7yHufMsQSYnIGQAQ&bvm=bv.71126742,d.cWc&psig=AFQjCNGSMj4dhl5sf0Cql_x8MCvoE07F7w&ust=1405607880306548

http://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&uact=8&docid=JK-Cjf8C6j6yHM&tbnid=cB4Ee6WWJNX0JM:&ved=0CAUQjRw&url=http://propertymortgageinvestment.com/navy-federal-credit-union/&ei=j47GU6z3CofJsQSG_4C4DQ&bvm=bv.71126742,d.cWc&psig=AFQjCNE0_axislSD5W72JQXVan8fi0Pihw&ust=1405607948870753

http://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&uact=8&docid=pn2lw-UOFK3zHM&tbnid=aBh-odPNdxKzZM:&ved=0CAUQjRw&url=http://vastarsbaseball.com/sponsors/apple-federal-credit-union-9u-blue/&ei=047GU_zyCc7nsATj5oGAAQ&bvm=bv.71126742,d.cWc&psig=AFQjCNGmzK3XEqLtF6Wq2ysM21WC5Xx03A&ust=1405608015519056

http://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&uact=8&docid=Cn2CWwP4Xq3UcM&tbnid=BEnjTeejYmZjwM:&ved=0CAUQjRw&url=http://www.arlnow.com/service/arlington-community-federal-credit-union/&ei=9Y7GU_zgF4zKsQSLs4CYCQ&bvm=bv.71126742,d.cWc&psig=AFQjCNE6QGpliwpnmZV-HteWnetR8DLSzg&ust=1405608050139455

http://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&uact=8&docid=m-IKQVoDHf_XXM&tbnid=LoUq2E5ujX7GTM:&ved=0CAUQjRw&url=http://www.brandsoftheworld.com/logo/northwest-federal-credit-union&ei=wY_GU9rRFOLksAT61oD4DQ&bvm=bv.71126742,d.cWc&psig=AFQjCNFHtF3HwTVUc6D2KdUwmN15kyyDDg&ust=1405608243983797

http://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&uact=8&docid=w1l0AcMfHpBr1M&tbnid=5Q805IZ2KaZ_OM:&ved=0CAUQjRw&url=http://www.forbes.com/companies/wells-fargo/&ei=AZDGU_OcOIzesASq1ILYBw&bvm=bv.71126742,d.cWc&psig=AFQjCNFdu88v6L1cyfcvgP274deNzDGdbQ&ust=1405608318329889

http://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&uact=8&docid=UP96RPEN0osIPM&tbnid=jWg0DG0Kc5Km_M:&ved=0CAUQjRw&url=http://edw2014.dataversity.net/Case-Studies.html&ei=WZDGU5P1BZbesATB_IHoBQ&bvm=bv.71126742,d.cWc&psig=AFQjCNGSUgXOBvQf9G6sELqbcoWkyNiGng&ust=1405608401619574

http://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&uact=8&docid=7lTeNWbgieTeZM&tbnid=HcCgNpptEbY3LM:&ved=0CAUQjRw&url=http://www.jobunlocker.com/job/citibank-tellers/&ei=e5DGU8yAD-i-sQTEhIGwDQ&bvm=bv.71126742,d.cWc&psig=AFQjCNFyadd5zO1WIyn2hCzpZL8G9ElbTw&ust=1405608439939750

https://www.usbank.com/

Credit UnionsYouth Accounts (Ages)

Congressional Federal Congressional Kids (0-12); Congressional Freedom (13-17)

Navy Federal Campus Checking (14-24)

Apple Federal Student Checking (12-23)

Arlington Community FCU

Kirby Kangaroo Youth Savings Program (Elementary & High School Students)

Northwest Federal Sweet Pea (0-3); Westie’s Kids Club (4-8); Plan it Now (9-12); First Rewards (13-17); First Checking (15-22)

Credit UnionsAccount Features

Congressional Federal Promotes money management skills & financial education

Navy Federal Features ATM rebates, earning dividends

Apple Federal Features free personalized VISA check card, online & mobile availability

Arlington Community FCU

Features in-school branches, double reward points on purchases in Arlington, financial tips & games

Northwest Federal Offers 5 youth accounts, membership kits, deposit rewards

BanksYouth Accounts (Ages)

Wells Fargo Financial Future Tour (For Parents of children ages 0-4, 5-12, 13-17, 18-19)

Bank of America Custodial Savings Account (For Parents)

Citibank Student Account (College Student)

US Bank Student Checking (Students 18+)

PNC Bank Virtual Wallet Student (College Student)

BanksAccount Features

Wells Fargo Features insurance plans, checking & savings accounts, educational planning services, financial education tools

Bank of America Features security in a child’s financial future, advertises college planning resources

Citibank Features Citibank Rewards Program, free non-Citibank ATM use

US Bank Features 4 free non-US bank ATM transactions per month

PNC Bank Features Money Schedule tool, Parent Alert tool, Wish List tool, ATM search around college campuses, online & mobile availability

Reaching Young Adults• Electronically connect

• Online and mobile account accessibility• Engaging members through social media channels

• Featuring account incentives and convenience• Young adults – ATM availability

Opportunities for Congressional Federal• Using social media as a tool to engage members• Looking at all age range possibilities

• Financial institutions serve kids, teens, and students ages 0 to 24 • Featuring products and services on youth account pages

• Emphasizing online & mobile availability

https://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&uact=8&docid=TI8ec4-gdAqoVM&tbnid=8kYNCBajUeK5DM:&ved=0CAUQjRw&url=https://www.savvymoney.com/yourcreditunion/&ei=TI7GU_7yHufMsQSYnIGQAQ&bvm=bv.71126742,d.cWc&psig=AFQjCNGSMj4dhl5sf0Cql_x8MCvoE07F7w&ust=1405607880306548

Summary• Gain insights into the financial market today• Discover effective ways of reaching and serving kids & teens• Find what opportunities exist for Congressional Federal

Documents

Exploring Youth Accounts Today Vivienne Miller Findings and Recommendations