Members Choice of Central Texas FCU Partners with FamilyMint to Positively Impact Their Members Financial Lives

FamilyMint is very excited to be partnering with Members Choice of Central Texas FCU in helping kids appreciate money and positively impacting their members financial lives.

Ann Arbor, MI (PRWEB) August 30, 2011

FamilyMint, the award winning online money management application helping parents raise money-smart kids, and helping busy families be smarter about money has developed a unique partnering platform to assist credit unions in attracting and retaining the youth market.

“We’re very excited to be working with Members Choice of Central Texas FCU in helping kids appreciate money,” said Bob Masterson, FamilyMint President, “as they’ve shown in their dedication to providing their members the very best products and services to enhance their total financial lives.”

Mike Penix, Director of Marketing and Business Development, Members Choice FCU says, "Our member’s participation & positive feedback with FamilyMint has been extraordinary. FamilyMint is an interactive tool which teaches sound financial fundamentals to the youth and their parents!” It’s easy to see how Members Choice of Central Texas Federal Credit Union is positively helping our member’s financial lives while promoting our value proposition at the same time. Simply put, FamilyMint has proven to be an outstanding investment in our future."

“We really love FamilyMint and really needed something like this,” says Ric G. a FamilyMint user. “When I got the message from our credit union I jumped on it. The kids (8, 11, 13, 15) all have accounts at the credit union, but they have no access and no visibility. So it is as good as nonexistent to them. FamilyMint gives them visibility.”

FamilyMint is the only budgeting and goal-setting tool available through credit unions where kids 5 to 16 learn by actually managing their own money in a safe, virtual environment. It is the modern replacement for the piggybank as well as an introduction to online banking and is designed to start forming the right financial behaviors in an interactive, fun and simple way while emphasizing the importance of saving, setting and achieving goals.

A 2008 study by the Boys & Girls Clubs and Charles Schwab Foundation revealed: Teens who learned about goal-setting were more likely to save for something, then purchase it... those who learned about saving were more likely to save regularly…and those who learned to track spending were more likely to have developed a budget.

Parents act as the bankers and custodians of the money. Through a co-branding program, credit union members gain free access to FamilyMint’s Premium version. This includes access to FamilyMint Mobile, and other enhancements that allow parents to automate allowance, add motivating interest payments to kids’ accounts, and lock accounts meant for long-term savings goals. And FamilyMint’s e-mail Snippet provides busy parents and kids’ weekly tips and tricks on becoming money-savvy.

“Based on a survey of our users, parents are consistently seeing a shift in their children’s thinking from the desire to spend to a curiosity about and excitement in saving,” says Jeff Eusebio, CEO of FamilyMint. “It is both a source of pride for the kids and a relief to the parents.”

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For the original version on PRWeb visit: http://www.prweb.com/releases/prweb2011/8/prweb8755458.htm