Local Students Save for College through College Kids

Comm_CollegeKidsSt. Louis, MO – 1st Financial Federal Credit Union, a Community Development Financial Institution (CDFI), partnered with St. Louis Office of Financial Empowerment and the City of St. Louis Treasurer, Tishaura Jones, for the 2017 kickoff event of College Kids, on January 25, 2017 at the Downtown 1st Financial branch.

“1st Financial has been a wonderful partner in our financial empowerment initiatives since shortly after I started in 2013. The ability to house the accounts at a credit union allows children and families to deposit additional funds at any branch that participates in the shared branch network, giving us a strong regional footprint. Additionally, the staff at 1st Financial stand ready to volunteer with us to make sure the program reaches as many as possible,” stated Jones.

College Kids, a program providing Children’s Savings Account for every single kindergartner in a public and charter school within the city of St. Louis, launched in the fall of 2015. These accounts were opened automatically with an initial $50 deposit from the City of St. Louis Treasurer’s Office to help families jump start their college savings. The College Kids savings accounts are held at 1st Financial Federal Credit Union.

This was the fourth College Savings Night, hosted by 1st Financial since the launch of the program in 2015. Each year, the number of kindergartners participating and attending College Savings Night grows, along with deposits made by the City of St. Louis and the students themselves.

During the event at the Downtown branch of 1st Financial, kindergartners and their parents were treated to pizza and the kindergartners were able to make a deposit into their account. 1st Financial also deposited a $20 scholarship into each child’s account who attended the even to help jump start their savings.

1st Financial Federal Credit Union is a Community Development Financial Institution (CDFI) and the 2016 Community Credit Union of the Year by Credit Union National Association (CUNA). For more information about 1st Financial Federal Credit Union and the credit union difference, visit www.thebetterwaytobank.org.

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About 1st Financial Federal Credit Union

Like all credit unions, 1st Financial is a member-owned, financial cooperative. 1st Financial Federal Credit Union was chartered on September 3, 1968 as District 837 Credit Union by the International Association of Machinist members employed by McDonnell Douglas. Today, with over 30,000 members and over $220 million in assets, 1st Financial is a St. Louis metro area financial institution dedicated to helping members achieve their financial dreams. For over 45 years 1st Financial has provided members with a full line of dependable financial products and services which returns profits to the members in the form of lower rates on loans and higher savings yields. The cooperative nature of credit unions enables 1st Financial to provide products and services at very reasonable rates.

 

1st Financial Federal Credit Union serves those who live, work, worship, attend school, or regularly conduct business in St. Louis City, St. Louis County, and St. Charles County, Missouri and a wide array of companies throughout the St. Louis metropolitan area. 1st Financial is a member-owned, not-for-profit financial organization committed to providing quality services to the membership while demonstrating safe and sound business practices. Deposits are federally insured by the National Credit Union Administration (NCUA), an agency of the U.S. Government. For more information, please visit www.thebetterwaytobank.org.