Scottie Savers Club teaches children about money

Every year in the fall we celebrate some very special members: our Scottie Savers Club members.

Scottie Savers Club saving accounts help kids ages 12 and younger learn how to set financial goals and save money.

  • Membership fees are waived for club members

  • Scottie accounts start earning dividends with a balance as low as $5

Save with purpose

The purpose of the club is to help prepare your children to make wise financial decisions for a lifetime. The club encourages savings and money management at an early age — and fun!

  • To help our Scottie Savers Club members understand how money works, we award one Scottie buck for every $5 deposited into a Scottie account. Those Scottie bucks can be exchanged for special merchandise at any of your local Oregon State Credit Union branches.

Your kids learn best from you

The Scottie Savers Club is a great tool to use when teaching your kids about money because the best way for kids to learn about the topic is from their parents. Spend time talking to your children about your family values around money. If you need help talking about money and saving, give these tips a try.

Talk together

  • Discuss the difference between wants and needs. This is a great topic for younger children.

    • A want is a temporary urge that can fade quickly.

    • A need, on the other hand, only grows more urgent with time.

  • Discuss your family’s strategy for saving money, and talk about your savings goals. Revisit this topic occasionally, especially if you are saving for something to which your child can relate, like a vacation.

  • Explain the difference between a credit card and a debit card and how your family uses each.

Practice together

  • Go shopping and explain how you save money when shopping. Do you use coupons? Do you shop sales? Let the kids in on your method.

  • Show your child the family budget. Many parents don’t want to burden their kids with the family’s financial difficulties, but it doesn’t hurt to let them see the big categories, like rent or mortgage, utilities and food. They can even watch as you pay the bills.

  • Teach checkbook balancing if your child is old enough. With the rise of ATMs, debit cards and online banking, the art of balancing a checkbook is slowly dying. But it shouldn’t! Understanding how money flows in and out of your account can help you avoid an embarrassing overdraft.

  • Practice what you preach. Model the money behaviors you want your children to adopt for their own healthy financial future.

For more resources

Looking for more resources on how to teach your children about money? Check out our Financial education resources for teachers and parents page or our Financial educational courses page. Both pages offer resources such as books, articles, online courses, and a financial planning workbook for young adults.

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