Office of Consumer Protection Report

POCKET CENTS: A NEW YOUTH WEBSITE

What are the four phrases on all U.S. minted coins? Not quite sure or just want to check your answers, go to Pocket Cents: a new, free and fun youth website. NCUA launched the micro-website last month. The catch phrase for the website is “my life, my money.” “NCUA is committed to developing financial literacy materials for people of all ages,” said NCUA Board Chairman Matz. “Last year, we launched MyCreditUnion.gov geared to adults. Pocket Cents introduces young people to the benefits of credit unions and the importance of setting financial goals.” Pocket Cents in English or Spanish translation is broken into four general areas for exploration:

; The Time Value of Money,

; How Money Is Made,

; Currencies around the World, and

; Credit Unions in Schools.

Through these four learning portals, Pocket Cents provides
access to tools and information designed to teach school-aged
youth positive financial habits. The website offers important
lessons about the value of a dollar and allows youth to explore
the different currencies
from around the world
using an interactive map.

Youth will also discover the vital role credit unions play in their financial futures. The website explains the history of credit unions, how to locate a credit union, and how to start a credit union right in their school. The website is housed within NCUA’s free consumer website, MyCreditUnion.gov.

Pocket Cents is an exciting addition to NCUA’s ongoing efforts to promote financial literacy and increase awareness of credit unions in younger audiences. The launch of the website in April coincided with a month-long Twitter campaign to observe Financial Literacy Month. The Twitter campaign included daily postings focused on themes like tax tips, money management for youth, savings, investing, retirement, and homeownership.

NCUA encourages teachers, parents, and credit unions to bookmark Pocket Cents as a helpful resource for young consumers. To view Pocket Cents, go to http://mycreditunion.gov/pocketcents. A link to the Spanish version is on the homepage.

The Office of Small Credit Union Initiatives (OSCUI) now has posted a second video on NCUA’s “You Tube” channel at http://www.youtube.com/ncuachannel.

This online video aims to help small credit unions interested in accessing NCUA’s free consultants and resources available at OSCUI. For a free DVD of the video, you can also send an email to oscuimail@ncua.gov.