Desert Financial Introduces Educational Kickstart Accounts for Children

Desert Financial Introduces Kickstart Accounts for Kids

Desert Financial Credit Union has recently rolled out an innovative program known as Kickstart. This initiative aims to teach children how to manage money responsibly through engaging activities while providing them with their own checking accounts. Designed for young members aged 6 to 17, Kickstart is part of a broader effort to help the next generation learn how to budget, save, and spend wisely while still under the watchful eye of their parents or guardians.

The Kickstart Program Overview

Kickstart accounts are free to members and come with a $25 minimum balance requirement for a savings account. This initiative allows parents to deposit money and set spending limits, thus enabling children to learn how to handle finances in real-life scenarios. By using the Desert Financial mobile app, children can track their financial progress and earn trophies for achieving milestones such as creating budgets, completing chores, and hitting savings targets. The gamified approach aims to make financial literacy enjoyable and rewarding for younger users.

Jeff Meshey, the President and CEO of Desert Financial Credit Union, stated, "Kickstart helps kids build smart money habits from the ground up. Parents play a key role in supporting their kids through their financial journey, which starts with education and practice." His emphasis on parental involvement highlights the importance of family in financial education, making the learning process a shared experience.

Real-Life Success: A Young Saver's Story

One standout success story comes from Prescott, where a second-grader named Taylor Ray successfully saved an impressive $1,000 after opening his Kickstart account. His father, William Ray, mentioned that Taylor had a knack for saving, often stuffing money into piggy banks and hiding it in various places. Through his allowance, birthday gifts, and doing chores, Taylor's dedication to savings is a testament to the financial responsibility that children can learn at an early age.

William Ray elaborated, "He wanted to open an account to keep his money safe. Taylor dreams of buying a Jeep or an RV when he gets older, and he’s saving toward those goals. Managing his own bank account gives him a sense of confidence and independence.” This illustrates not only the functionality of the Kickstart program but also its potential to instill lasting financial values.

Financial Education Made Fun

The Kickstart program's approach to education incorporates fun elements, encouraging children to take an active part in their financial learning journey. With engaging child-friendly programming available online, kids can explore financial concepts, including understanding interest, in a manner that resonates with their age group. This creative method aims to demystify finance, helping children comprehend how money works early on in life.

Parental supervision remains a key feature of the Kickstart accounts, ensuring that children can have responsible financial experiences without undue risk. Parents can enable spending limits and monitor account activity, fostering an environment where kids can learn through real-time experiences while being guided appropriately.

How to Get Involved

If you're interested in opening a Kickstart account for your child or learning more about the benefits of this program, Desert Financial encourages parents and guardians to visit their local branch or check out their website at DesertFinancial.com/Kickstart. With the promise of enhancing financial literacy among children, the Kickstart program represents an essential step in creating financially savvy adults of the future.

About Desert Financial Credit Union

Desert Financial has been a cornerstone of the Arizona community for 85 years, boasting over 480,000 members and $8 billion in assets. As a non-profit cooperative, they focus on member wellbeing and community involvement. Known for their innovative financial solutions, Desert Financial is the official banking partner for Arizona State University and the Arizona Cardinals, among others. This aligns with their mission of supporting local communities while ensuring their members receive valuable financial services.

In a world where financial literacy is more important than ever, Desert Financial's Kickstart program stands out as a proactive and positive influence on children’s financial futures.