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The
Youth Credit Union Program
is a financial institution developed for,
operated, and managed by young people, ages ranging from
0-18. The program is run under the auspices of the 1st
Delta Federal Credit Union and is
insured by an agency of the United States Government, the
National Credit Union Administration (NCUA)
Share Insurance Fund.
Y-CUP
is an asset to youth in the community because
it teaches them how to save, manage,
invest and borrow money
at an early age. Every youth who puts money in the credit
union becomes a member and has the privilege to save, invest
and borrow with other members. This membership also gives
them control and a voice in how the credit union is operated
and managed. Parents should
strongly consider starting a savings plan for/with their
child. It is one of the greatest real-world
educational experiences children can have.
Membership
Youth can become a member with a minimum of $3.00; a
one-time $1.00 joining fee will be applied. Funds are
secured in this credit union and annual audits are conducted
by the National Credit Union Administration (NCUA) and by
the supervisory committee of the adult credit union.
Benefits of Membership
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Provision of a Picture
Identification Card, savings passbook, coloring booklet
and monthly youth credit union newsletter
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Competitive dividend rates paid on
your savings
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Reduced risk because only members
may borrow
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Much lower interest rates than
banks and other financial institutions
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Free life savings insurance
provided by the credit union
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NCUA insures each account up to
$100,000. This guarantees that our members will receive
maximum protection for their hard-earned dollars.
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Free workshops on saving, financial
education, credit union operations, leadership
development. Also, an opportunity for other field
trips, conferences and visiting other youth credit
unions and career opportunities in the areas of finance,
etc.
For more information, contact
Pearl Watts, Youth Director at (662) 326-4000 or
e-mail her at
pearlqcdo@yahoo.com.
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