Credit union offering financial education to students—cash included

For young people, there is no shortage of financial advice. Parents, grandparents, friends, and social media influencers are always willing to offer up their own personal secrets to financial success. Inundated with all of that unsolicited advice, today's high school and college kids seem to be learning at least one financial lesson—talk is cheap.

In fact, young people—including those classified as Millennials and Gen Z—carry a general sense of distrust for the financial system and for the traditional channels of financial advice. Unfortunately, turning away from those channels has not shielded America's youth from money-related stress. A recent Deloitte Millennial Survey found that about two-thirds of millennials and Gen Z respondents often worry or become stressed by their personal financial situations.

One local credit union is trying to change all of that by putting its money where its mouth is and giving students $100 in cash along with practical financial education.

Introducing the Utah First Savings for Success program

Utah First has launched a new initiative that helps high school and college students learn about personal finance, and it's offering the one thing that many students need even more than advice—cold hard cash.

The Savings for Success program is simple. Any student—whether attending high school, college, trade or vocational school—can open an account at Utah First and they'll immediately receive a free $100 deposit. To combat the skepticism that often accompanies youth, Utah First has kept the program unmistakably simple—no frills, no fuss, and no frustration because there are absolutely no strings attached.

Continued support through the Cash for College program

A free $100 is a great start for young Utahns, but for most of the state's students, a great start will only get them so far. With in-state college costs rising, many will feel an even greater financial squeeze once they start paying tuition.

Fortunately, Utah First goes beyond an initial deposit to offer ongoing support for students. Through its Cash for College program, the credit union awards a $1,000 scholarship to 25 of its student members every single quarter. Credit union members who have declared their status as students are automatically eligible every single quarter.

On-demand financial advice

Only after establishing trust with its young members does Utah First attempt to offer any financial advice. As part of its commitment to serving local communities, the credit union takes a unique approach to financial education. Instead of pushing unsolicited financial advice on young people, Utah First offers on-demand, user-driven opportunities to learn.

The organization has created simple, engaging content that students can browse on their own time and according to their own interest level—and it hardly feels like education. The material is engaging, interesting, and filled with information that is uniquely relevant to young people. With a program perfectly suited for young students, Utah First has been given the opportunity to offer basic financial training in many high schools along the Wasatch Front.

A head start on the path to healthy finances

Young people are feeling anxious about their financial futures. But, with a general distrust of the financial system and an unending stream of unsolicited advice, they don't always know where to turn for financial education. Through a variety of unique programs, Utah First is trying to regain that trust by pairing its educational content with free cash. In doing so, the credit union is helping high school and college students get a $100 head start on the path toward healthy financial decisions.

If you're a student (or know someone who is) and you want to claim your free $100, visit the Utah First Credit Union website today.

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