JANUARY 2013
Tuition Rewards and Youth Accounts
Preparing Youth for Their Financial Futures

Children can do anything and be anyone. So it's important for parents to make sure money doesn't stand in their way. With college debt now the No. 1 source of consumer debt in America,* many young people are starting their adult lives strapped with substantial obligations – and restrictions. Too much debt can make it difficult to pay other bills or buy a home, and may even affect career choices, according to one study of recent college graduates.**

Helping your child make smart financial decisions starts well before the college planning years. Our youth accounts are specially tailored to teach young people how to manage money and inspire them to save.

  • A Moola Moola Account helps teach children the value of saving through fun activities and opportunities to earn prizes. Kids age 12 and under can join the club, and with a $50 minimum balance they receive a fun quarterly newsletter, dividends and a birthday card.
  • The CU Succeed program offers a variety of tools and accounts to help teens learn about handling money and keeping good credit as they approach independence. The CU Succeed Checking Account comes with no minimum balance or monthly service fees, plus an ATM/Check Card, checks, Teller Phone and Teller Net access and Electronic Bill Payer.

EARN POINTS TOWARD COLLEGE TUITION
Although the price tag is often substantial, a college education continues to be a boon to most graduates' future prospects. Statistics show that those with a college degree enjoy lower unemployment rates, a better chance of having health insurance and job satisfaction, and higher lifetime earnings (nearly $20,000 per year higher according to the U.S. Census Bureau). PFCU's Tuition Rewards program helps make college more affordable by rewarding points that can be redeemed for tuition discounts at a growing network of participating private U.S. four-year colleges and universities.

Once enrolled in Tuition Rewards, you'll earn points equaling 5.00% (annualized) of the combined asset balances in your PFCU accounts. Every point can be redeemed for tuition reduction at participating colleges. These guaranteed minimum scholarships are capped at one full year of tuition, spread evenly over four years.

MAKE A DIFFERENCE TODAY
Start earning Tuition Rewards points by logging on to Teller Net through pfcu.com. You'll receive 500 bonus points (a $500 value) just for signing up, and each child you enroll will receive 500 bonus points. To learn more about our youth accounts and programs, visit pfcu.com or call 215-934-3500 or 800-832-PFCU (outside the metropolitan area). Together, we can help our special young ones jumpstart a strong financial future.

* Source: National Association of Consumer Bankruptcy Attorneys.
** Source: Pew Research, "Is College Worth It?" May 15, 2011, pewresearch.org.


Powered by BlueSpire Strategic Marketing