00:00They may be consumers of money now, but the Police Credit Union Youth Academy is aiming to give the youth the tools they need to navigate their financial future.
00:10Among the most important life skills we can teach our young people is financial literacy. Because, let's face it, money does not grow on trees. And if it did, we would still have to teach them how to budget to buy a ladder.
00:30When students understand the value of money, how to earn it, how to manage it, and how to save it, and how to invest it wisely, we are essentially handing them the keys to independence, stability, and long-term success.
00:50The Academy is open to everyone 25 years and younger, and registration is free to credit union account holders.
00:57But we are flipping the script. You will help design products that actually work for you. You will lead initiatives that attract more young persons. You will have direct input in strategic decisions, whether it is through our youth leadership program, internship, or satellite credit unions. This is not about membership. It's about active ownership.
01:26Adults are also being urged to save for their children. One director notes. A little goes a long way.
01:33And give them a gift. You want to go and buy something by some store. Give them a gift, a credit union certificate. Let them go join the credit union every day. If you could put $20 every month, $50. That's all we want. Start them with $50.
01:53Today. My daughter, my granddaughter, will be 18 years April next year. And then she will become an adult, and we will hand over the lady almost some more money than me.
02:03Meantime, Police Credit Union CEO Colin Eddy is hopeful the Academy will help solve a concerning trend facing credit unions today.
02:12Credit unions worldwide face a challenge that we can no longer face no. That is an aging membership. And much too often, decisions about attracting young members to the movement are made by those who no longer represent the next generation's needs, people like me.
02:36That's why BCU Youth Academy is different. We're not just inviting you to join. We are asking you to lead.
02:46Renasa Cutting, TV6 News.
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