Join the club!

When you open a Mitten Club share account for kids up to 16 years of age we'll deposit $10 to the new account! The Mitten Club encourages children to get started on the road to savings and see how their money grows. They get their own passbook and make their own deposits. As members, they will also get a chance to participate in many fun activities at the credit union.

Children & Money Management
Some Tips for young savers:

For 5 year olds and younger:

Start your child saving money by supplying them with a coin bank.

Show them how to identify coins and their value.

Teach them how to count and add small amounts of coins.

When they have a certain amount of money saved, let them make the decision of how to spend it.

5 to 10 year olds:

Start your child on a regular allowance and this will help them to plan their savings

Reinforce the relationship between saving and buying by letting them make purchases they want.

Encourage children to divide their allowances and cash gifts to save a portion of their money, spend it wisely and at the same time donate a small amount.

When their save container becomes full, take your child to the Ukrainian Federal Credit Union and open a Mitten Club account. They will receive a $10 gift deposit when opening the account and a yearly deposit of $5 into the child’s account by the Ukrainian Federal Credit Union.

11 to 14 year olds:

Allow children to work at odd jobs - yard work, babysitting. This encourages them to look beyond their allowances for extra money.

Show them how to shop wisely by teaching them comparison shopping, product qualities, prices, and warranties.

15 and older:

This is a good time to discuss their savings in terms of education and the purchase of their first car.

For some teens that have proven their financial responsibility, opening a share draft/checking account can be the next step.

With the share draft/checking account, the convenience of a UFCU VISA debit card can be an added feature.

Tips for Parents: It’s never to early to start thinking about your child’s future and the cost of college. The Coverdell IRA allows you a $2000 tax free annual deposit into a Mitten Club Account.

Games:

Here's a trivia quiz about money.

1.All but one of the following are on the front of a dollar bill:
A. serial number
B. treasury seal
C. portrait
D. magnetic strip
E. Federal Reserve Bank seal

2. All but one of the following are coins:
A. pennies
B. pancakes
C. nickels
D. quarters
E. dimes

3. All but one of the following are stringed musical instruments:
A. viola
B. guitar
C. violin
D. jello
E. banjo

4. All but one of the following are phrases or words found on a quarter:
A. E Pluribus Unum
B. Liberty
C. In God We Trust
D. United States of America
E. You Go, Girl

5. All but one of the following are kinds of dinosaurs:
A. brontosaurus
B. tyrannosaurus
C. thesaurus
D. stegosaurus
E. allosaurus

6. All but one of the following are depicted on coins:
A. George Washington
B. Thomas Jefferson
C. Franklin Roosevelt
D. Abraham Lincoln
E. Abe Vigoda

7. All but one of the following are bones in the human skeleton:
A. femur
B. tibia
C. fibula
D. scapula
E. Fabio

8. All but one of the following are related to share savings accounts:
A. dividends
B. principal
C. deposit
D. onomatopoeia
E. money

Answers: 1.D; 2.B; 3.D; 4..E; 5.C; 6.E; 7.E; 8.D