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Are We Spending Enough Time With Our Kids?

We are all very busy with work, family, friends, sports, and other activities. But have you spent time with your students teaching them about personal money management? Do they have the skills to properly budget their money, balance their checking account, use credit responsibly, and know how to make wise financial decisions? According to surveys, 73 percent of college freshmen claim they were ill-prepared to manage their personal finances. This can lead to undue stress, fees, and debt.

Most parents remember the mistakes they made when they were young and claim that they wish that they were given the opportunity to learn about personal money management before things went awry. Giving kids the hands-on experience before they graduate from high school is essential to their future financial success.

Simply “banking” at the largest, the closest, or even the financial institution you’ve been with for years is not necessarily the best place to open accounts for children, because not all financial institutions are the same, and national banks do not have ATMs and branches in every state. A well-informed consumer considers the minimum balance requirements, fees charged, interest rates on loans and savings, and the number of ATMs and branches nationwide.

In fact, most experts agree that the best financial institution for those interested in banking locally, and obtaining the best value on financial services is to join a credit union. Historically, credit unions have lower fees, better loan and savings rates, more ATMs and branches where people live, work, and travel, and out-pace banks in satisfaction ratings, according to the American Customer Satisfaction Index (ACSI) surveys.

If obtaining the best rate when you borrow and invest, having the most number of free ATMs and branches nationwide, and working with a local and sustainable financial institution is important to you, then joining Boulder Valley Credit Union (sponsor of the Coyote Student Credit Union) is a wise financial decision for you and your student(s).

The student credit union located in the school has the tools to provide the hands-on education to help students learn the skills they need to make wise decisions. Student members enjoy the most advanced online and mobile technology and so much more.

The student credit union branch will close for the summer on May 1, 2015. If you are not currently a member of Boulder Valley Credit Union or the student branch, plan to stop by one of their branch locations this summer to discover just how much the credit union can save you and benefit your student. In Boulder: 5505 Arapahoe Ave. or 2667 Broadway. In Louisville: 800 Coal Creek Circle.

Have a great summer, be safe, and enjoy low-cost financial services.