A Message from RCU’s President
& CEO Brett Martinez
A Financial Family Tradition
You chose to bank with Redwood Credit Union for a reason. Some Members tell us it’s because of the low rates we offer on car and home loans, or that we don’t charge fees like other institutions. We often hear it’s because we support our communities and keep Members’ money local. Many say it’s because of our staff and the friendly personal service we provide. But most people tell us they chose RCU because a friend or family member recommended us. We consider our Members’ referrals to be the highest of compliments, because it tells us that you trust us to help you with your money, and that we’re truly making a difference in our Members’ lives.
Referring friends and family to RCU may come naturally when speaking with other adults about money matters, but one referral that may not seem as obvious – although possibly the most important – is introducing the children and teens in your life to RCU. While financial services are not a daily necessity for most people under 18, money management habits learned at an early age can positively impact financial wellness for life, so it’s important to start young with a trusted financial partner.
RCU offers youth accounts for kids and teens that provide a safe place to save, and also deliver age-appropriate financial education through quarterly newsletters, and youth-focused website with stories, games, blogs and videos to help them learn essential money skills.
Helping a young person open a savings account engages him or her in the responsibility of managing money, and introduces the process of setting a financial goal and saving for the future. A recent study by Cambridge University revealed that financial habits are formed as early as 7 years old—by this age, children understand the value of money, that it can be exchanged for goods, and what it means to earn. So it’s never too early to begin children on the road to good money habits.
The Council for Economic Education reports that 1/3 of parents are more comfortable talking with their kids about smoking, drugs, and bullying than about money. Helping your child or teen to open their own RCU youth account is a great way to get the conversation started, and your RCU representative can help, too. April is Financial Literacy Month, and National Credit Union Youth Week begins April 21, so throughout the month of April we’ll be promoting smart savings in our branches and on our website.
We are honored to serve your financial needs, and we hope you’ll consider making RCU a financial family tradition!
President & CEO