Empowering young people to create the future they want is the philosophy behind STAR (Save to Achieve Results) Credit Union, the only kids-chartered credit union in the world. Now celebrating its 10th anniversary, STAR CU is financed entirely by Summit Credit Union and is the brainchild of Summit CEO, Kim Sponem. Housed in the Boys and Girls Club, members under the age of 18 can open a savings account with a minimum deposit of 25 cents and participate in financial literacy classes.
On this program, Kristel Renn describes how at risk kids are learning about money management and saving for their future through their hands-on experience with a financial institution. Longtime member Kelsey Johnson, who is now in seventh grade and one of STAR’s exceptional savers, shares how having a savings account and being involved with the credit union operations have inspired her to plan for college and perhaps a career in the financial industry or teaching.
For more information, go to saveatstar.com.