The Mr. Coin Saver Club is designed for children 13 and under to begin their journey towards saving and other future financial needs.  Club members earn special rewards and prizes for saving.     

How to apply for a Mr. Coin Saver account:
Parent or guardian will need to open a Custodial Student Share Savings Account or Joint Share Savings Account at any of the branch locations: Garfield Heights, Macedonia, North Royalton, Akron or Cleveland.  You may also apply for membership online through It’s Me 247, then bring your supporting documents to any Ohio Catholic branch.

What you need to join the Mr. Coin Saver Club:
The completed membership application must be presented in person, at any Ohio Catholic FCU branch location along with:

• Parent /guardian will need a valid driver’s license or state issued identification card
• $5 minimum initial deposit
• The child’s social security card

Why join?

• Financial education opportunities at an early age
• Dividends earned quarterly on a minimum balance of $5

Student Banking*
Ohio Catholic Federal Credit Union proudly partners with the following parochial schools to collect deposits right at the schools at a predetermined date/time:

• St. Monica School, Garfield Heights, OH
• St. Martin of Tours School, Maple Heights, OH
• Holy Spirit Academy, Bedford, OH
• St. Michael School, Independence, OH
• St. Albert School, North Royalton, OH
• St. Rocco School, Cleveland, OH
• St. Mary School, Chardon, OH
• St. Anselm School, Chesterland, OH
• Ss. Robert and William School, Euclid, OH
• St. Matthew School, Akron, OH
• Mary Queen of Peace,  Cleveland, OH
• St. Rita School, Solon, OH
• St. Sebastain School, Akron, OH
• St. Barnabas school, Macedonia, OH

Benefits of Student Banking

• Ohio Catholic supports Catholic education. 
• Convenient on-site opportunities to SAVE and earn PRIZES
• Children can earn a reward for their whole class for saving
• Special contests and programs for members

Confused about giving children an allowance?
Financial Facts:

• 67% of children who receive an allowance from their parents
• $12 – Average weekly allowance
• 48% of adults surveyed say their parents did not prepare them for financial independence
• 50% of high school students who wish they knew more about personal finance
• 1-in-5 parents admitted they have never spoken to their kids about money basics

Questions to consider before deciding on giving an allowance:

1. How much money will change hands?
2. Do kids need to do certain chores to get money?  If so, which ones? How much will each chore be worth?
3. If allowance is tied to chores, when do the chores need to be completed?  What happens if chores are not done?  How many times does a parent have to ask that a chore be done before payment is revoked?
4. How will allowance be used?  How much will be saved or set aside for charity?  Will kids be expected to buy some necessities like school supplies with their money?
5. Do kids need to ask permission before buying something?                                                                                                                           Source: The Cleveland Plain Dealer, March 29,2010

Use these calculators to help determine if giving your child an allowance is the right choice for you, and how much they should receive.

How much of an allowance will my child need?

What is the value of the allowance I received as a child in today’s dollar?

Visit Money and Stuff’s Website for smart money tips for all ages: free, simple, easy. Check it out today!
www.moneyandstuff.info – Free financial resources, games and activities for educators, parents, teens and younger children.