For teens 13 and up ... start a Savings Account, work up to a Checking Account, earn your first Debit Card, apply for your first loan and start building your own credit rating. This is an educational program, much like driver’s ed ... preparing you for real world now! You will be guided through a workbook and on-line lessons ... and you will earn the privilege of achieving the various elements of this program. Let us know if you would like more information.

When a teen gets closer to driving age, the serious consideration is given to a driver’s education course for the simple reason of better preparing the young driver to handle difficult or unexpected driving conditions. The young driver that is not prepared might very well get in trouble. Handling one’s money is no different. Which is why Rainbow FCU is offering this unique money management program to 13 to 17 year olds.

     With parental approval and participation we want to prepare you for a lifetime of financial opportunities. We realize at this stage in your life that you’re probably not worrying about your 1st home mortgage, or preparing for retirement ... but we do know that you have needs today. Perhaps you want to save for an MP3 player, a computer, a car or even a college education, and we would like to help you do that.

     Our “financial Education Course” will guide you when you go to buy your 1st car; how to start a checking account and how to balance it once you start using it; how to incorporate an ATM card and reconcile its use with your funds in checking and savings. You may want to consider applying for a debit card, which is a lot like an ATM card, but with a debit card you can purchase merchandise or services wherever VISA Debit Card is accepted.. A debit card is different than a credit card, however, as the funds will be deducted out of your checking account when it is used. Again you will need to reconcile its use with your checking account balance. Applying for your first loan is a major step for anyone ... and with a loan, you are on your way to establishing your own credit rating. Learning what a credit rating means and how it can effect you; with a poor credit rating, an individual may be denied a loan, or if granted a loan, may pay higher interest rates. That same individual may pay more for their car insurance. A good credit rating is earned through fiscal responsibility and maturity, and we want to help you learn how to achieve that.

In addition to a workbook that we provide for you when you enroll, there is an on-line component to this program - click on to access this information. Although the materials in the workbook and the on-line pages will be similar, they each offer unique approaches to learning how to manage your money. For testing purposes we will be taking information from both the printed workbook and the on-line site.

     In addition to testing your readiness to advance in this program, we will also be interested in your consistent savings habits as well as how well you do in school.

Please e-mail us, indicating your interest in finding out more information about this program:  include the name and ages of the teens that might be participating and the address that you want the packet mailed to.  If you prefer, you may want to go in to any branch office and pick up the information there, including the workbook.  The branch office can automatically enroll you in the My Money program.   Remember good savings practices are always a part of this program from beginning to end.