Nearly 200 local kids just collectively socked away more than $42,000 in savings accounts.
Yes, you read that right. Children. Saving money. On purpose.
From April through June, Eglin Federal Credit Union teamed up with Okaloosa Saves and six other financial institutions for the annual Teach Children to Save campaign. The concept was beautifully simple: kids 17 and under set a savings goal, made a deposit, and got entered to win one of ten $50 prizes. Think of it as a lottery where everyone actually wins by learning good money habits.
The results? A total of 189 young savers from Eglin FCU, Renasant Bank, CCB Bank, Midsouth Bank, Teachers Federal Credit Union, PenFed, and United Fidelity participated, depositing a combined $42,337.39. That’s not chump change—that’s a down payment on a decent car.
Even more impressive: since this program kicked off back in 2004, 2,686 kids have deposited a jaw-dropping $463,005.73. That’s nearly half a million dollars saved by people who can’t even vote yet.
And the Winners Are…
Ten lucky participants scored an extra $50 for their accounts and got recognized at the Okaloosa Board of County Commissioners meeting in July. Here’s who won:
- Cali Branson, Fort Walton Beach
- Kate Kennedy, Niceville
- Titus Kidder, Crestview
- Khai Mays, Crestview
- Alice Morton, Mary Esther
- David Nelson, Valparaiso
- Liam Law, Crestview
- Marin Lee, Shalimar
- Sofia Simeonova, Fort Walton Beach
- Liam Walbert, Crestview
Why This Matters
“Financial literacy is one of the most important life skills we can offer our children, and Okaloosa Saves, Teach Children to Save has been making a meaningful impact in our community for years,” said Okaloosa County Board Chairman Trey Goodwin. “By helping children understand the value of saving, budgeting, and making informed financial decisions, this program is building a strong foundation for future success.”
Eglin Federal Credit Union President and CEO Cathie Staton echoed that sentiment: “There’s nothing more rewarding than seeing students gain an early understanding of the value of saving and responsible money management. Through our longstanding partnership with Okaloosa Saves, we’ve helped thousands of children build a foundation for financial success.”
Sherry Harlow, who’s served as treasurer on the Okaloosa Saves board for 23 years (talk about commitment), noted this was one of the program’s strongest performances in over a decade. “These results demonstrate the lasting value of teaching financial literacy early and empowering children to build healthy financial habits that can last a lifetime,” she said.
Want to Raise a Mini Warren Buffett? Start Here
If you’re inspired to help the young people in your life get savvy with their cash, here are some practical starting points:
- Talk money openly: Discuss budgeting and saving in everyday conversations—make it normal, not taboo
- Make it official: Head to your local Eglin FCU branch to open a savings account or add to an existing one
- Introduce investing basics: You don’t need to explain derivatives, but simple concepts about how money grows over time? Absolutely
- Celebrate entrepreneurship: Got a kid with a side hustle? Encourage it. Lemonade stands count
- Walk the walk: Kids learn more from what you do than what you say, so model good financial behavior yourself
The bottom line? Teaching kids about money isn’t just about padding their piggy banks—it’s about giving them tools they’ll use for the rest of their lives. And based on this year’s numbers, these 189 young savers are already way ahead of the game.