Hawaii First FCU implements ‘Deposit Days’
Friday, October 22, 2010.
Hawaii First Federal Credit Union is offering an effective and unique approach to implementing financial and savings skills in youth through its Children’s Savings Project-inspired Save First program.
The Save First program teaches regular and committed savings discipline, while also give the children the opportunity to see what their pockets full of change can turn into.
Hawaii First’ Save First program is providing five schools, 2,300 students with access to their very own savings account, financial education, “Deposit Days” at school and a $20-incentive once they achieve their goal.
The children are given the opportunity to set a realistic goal for the school year and save anywhere from thirty dollars to hundreds of dollars, receiving praise and prizes for every deposit of one cent or more.
Hawaii First’s team goes out to the schools on scheduled Deposit Days to take deposits. They also celebrate saving with the children by providing age based treasure chests goodies, music and big applauds.
Participating schools include Waikoloa Middle School, Waimea Middle School, Laupahoehoe Elementary and High School and Kaumeke Kaeo Hawaiian Immersion Charter School.
In addition to Save First, Hawaii First also continues providing this opportunity to the students of Keaukaha Elementary and Kanu O Ka Aina Charter School. This pilot program is called the Children’s Savings Project and is in partnership with the County of Hawaii, HACBED and Dr. Michael Chaeng of UH Manoa and has been a tremendous success.
“The Children’s Savings Program is a profound collaboration between a variety of agencies that allows children to establish saving practices that will be imbedded within themselves for years to come. Keaukaha School is proud and honored to be offering such an opportunity for our keiki and our ohana!” – Lehua Vincent, Principal Keaukaha Elementary School
“In today’s economy it is more important than ever for our keiki to learn the value of money and the importance of saving for the future. Mahalo nui loa to the Hawaii First Federal Credit Union (HFFCU) and the other organizations who made the Children’s Savings Project a success for our preschool and elementary students at Kanu o ka Aina New Century Public Charter School. It’s these kinds of life skills that prepare our keiki to become conscientious managers of not just money but other resources as well, as they develop into contributing members of our community.” – Ku Kahakalau, Ph.D., Director, Kanu o ka Aina New Century Public Charter School
Hawaii First Federal Credit Union (HFFCU) is a not for profit, community-based, low income designated Federal Credit Union, which was organized in 1956.
Today, Hawaii First serves as a catalyst through providing Hawaii County with many no cost services focused on overall community revitalization and economic development. HFFCU proudly serves the entire Island of Hawaii through its multiple branches and programs such as the Hawaii first Community Resource Center.
The Hawaii First Community Resource Center (HFCRC) is a community outreach program of Hawaii First Federal Credit Union. This “first of its kind” no cost Community Resource Center, provides services to any residents of the Big Island of Hawaii, focusing on Hawaii’s much needed economic development, one family at a time.
The HFCRC is there to help one reach their goal by providing the tools and resources necessary to obtain self sustainability in many areas.