Introducing: Pocket Cents -
Financial Information for Kids (and parents too!)

The National Credit Union Association recently introduced "Pocket Cents" under it's MyCreditUnion.gov informational site. At Pocket Cents, you can learn more about the value of money, how it's used around the world, and how to save now for a brighter future!

Thrive by Five!
Parents, it's important to teach your children how to save money and to make wise purchases. Visit Thrive by Five for ideas on how to teach your pre-schoolers the value of money.

Cash for a Special Occasion? Spend Some, Save Some, Give Some

Do you know what you'll do with cash gifts you may receive from your family for holidays, graduation, or other special occasions? Think before you spend it all! Create a small budget for your cash gifts received through the year. Set some aside to spend on something you want or need now, save a little in your Touchstone account and let that money grow over time, and think about giving some away to others in need. Spend some, Save some, Give some!

Saving Makes Cents - and Budgeting Does Too!

Save regularly - "Pay Yourself First". What do you do with cash gifts or money you earn? Do you "pay yourself first" by putting some of that money into a savings account to earn interest? Savings accounts are a good way to save for your future and for important purchases such as a laptop or used car. If you receive cash gifts for birthdays, holidays, or other events, it's important to put at least a bit of that money aside into savings. Deposit money into your savings regularly, and watch your account grow.

Start a savings calendar for a big purchase. One way to start saving is to make a savings calendar. Figure out how much money you will need for your purchase and when you will need the item. How many days or weeks do you have? Divide the price of the item by the number of weeks, and begin to save that amount regularly. Before you know it, you'll have saved enough to make your purchase.

Be a smart money manager. Create a budget for yourself. After you've paid yourself first, set aside money for payments you will need to make during the week - for the items you need the most - clothing, gas for your car, lunch money, etc. Then set aside some money for stuff you may want, or things you may want to do, like money for CDs, movies, etc.

When you shop, shop smart. You don't have to be the first on your block to get the latest clothing, game, DVD. Wait for prices to drop, or keep an eye out for savings. You can often find coupons online or in a local paper to save even more money. Don't pay top dollar if you don't have to. 

What’s the Difference Between a Credit Union and a Bank?

Members, not Customers. Credit Unions serve Members – like you! – not customers. Money you deposit in a Credit Union is considered a share of membership. Members of a Credit Union have a say in how their Credit Union operates. Bank customers have no say in how their bank operates. Banks are owned by groups of investors who expect a return on their investment.

Members Have a Say. A volunteer Board of Directors, Members who are elected by the membership, run a Credit Union. Investors who have voting power, not customers, run banks. Ordinary customers of a bank can’t vote and can’t be elected to the Board.

Credit Unions are Not-for Profit. After the costs of running the Credit Union are paid and a reserve is set aside to keep the Credit Union strong, earnings are returned to Members. How? Many times the extra is returned through higher dividends paid, lower loan rates for Members, and free or low-cost services.

Build Your Stash of Cash
If you want to see your money grow, ask your parents to help you put together your own saving and spending plan. Talk about your current needs (including things your parents expect you to pay for), items you may want, and long-term goals you may have for a larger purchase. Set aside some of your cash for spending, some of it for savings, and some for charity. List your goals and put your savings plan in writing.

If you don’t have a savings account, open one up, and add a percent of any money you receive. Weekly savings can add up fast, and as your money grows, it will earn more money through dividends.

Student Membership

If you are a High School or College student, Touchstone FCU has a membership package designed exclusively for you. The package includes:

• Share Savings Account
• Share Draft Checking*
• Debit Card*
• Home Banking and Bill Payer Service*
• E-Statements
• $300 Visa Credit Card*

*Student/Member must be 18 years old or have a Joint Account Holder. Student/Member with a prior credit history could be approved up to $750.00 if they can establish income satisfactory for extended credit privileges. Credit request in excess of $300.00 must be submitted in writing and is subject to approval. Student/Member with negative credit history must have a co-signer.