Addison Avenue Federal Credit Union Launches The Family Center

Center Teaches "Money Smarts" to Young Members

PALO ALTO, CA--(allCUnews - May 21, 2009) - The newly launched Addison Avenue Federal Credit Union virtual Family Center provides members and their children with educational information about managing money, student loan and scholarship offerings and recommendations regarding which accounts will help young members reap the rewards of saving early and often.

"With a belief that developing good financial habits starts early, we recognized the need to provide our members with the tools to start their kids on the right foot," said Jonathan Gowins, Ecommerce Social Media Manager at Addison Avenue Federal Credit Union. "The Family Center covers many topics including how to read credit reports, find the right checking and savings accounts and how to use credit cards wisely."

The Addison Avenue Family Center includes several tips to help young people start their finances on the right track:

-- Encourage your kids to save a little, each time they earn some money --
Addison Avenue's Kids Online Banking is just the tool to help your kids
start saving. Once a parent (or guardian) enrolls via Online Banking to
open their kid's virtual account, the child can actually track their money
from their allowance, or from funds they receive as gifts.

-- Need a little help with your college costs? Addison Avenue is pleased
to offer four scholarships of $2,000 each (and an additional one to an
Addison Avenue employee family member) to help student members achieve
their academic goals.

-- Understand the penalties and fees associated with a credit card [1]. The
bank can raise your interest rates for one late payment and you can be
charged a late fee. If you exceed your balance then you will be charged an
overbalance fee and your interest rates will be raised as well (rates can
go as high as thirty percent). With Addison Avenue's VISA Classic, your
teen can start building good credit now while learning how to use credit
wisely, rather than waiting until they are out on their own trying to teach
themselves. There is no monthly fee associated with this card.

For more information on the Addison Avenue Family Center, please visit https://addisonavenue.com/promo/family_center/index.htm [2]

About Addison Avenue Federal Credit Union

Based in Palo Alto, California, Addison Avenue Federal Credit Union is a nationwide, full-service financial institution serving more than 145,000 members. Addison Avenue offers a range of services to the employees and family members of its sponsor companies such as Hewlett-Packard and Agilent Technologies, as well as members from communities across the country. For more information, please visit: http://addisonavenue.com [3].
Contact:
Meghan Lee
Allison & Partners
415.277.4901
addison@allisonpr.com [4]