Our Recent BEARy Club Winner Justin Bambico

To encourage young people to learn about the value of saving, LSFCU instituted the BEARy Club in 2006.  The BEARy Club was developed by LSFCU’s Business Development Specialist, Cassandra Wiggins, a former principal in the Jersey City Public School system.  Being an educator, she knows first hand how important it is to teach the community’s youth about saving money for their future. 

All youth members of the credit union (under age 18) who have savings accounts are eligible to win $500 scholarships.  The winners are drawn periodically at random and every member of the BEARy Club has a chance to win! When a winner is determined, the $500 is put into a share certificate (held in the name of the child and LSFCU) and deposited into the winner’s credit union account.  The certificate will accrue interest until the member reaches age 18 at which time the money can be used at their own discretion. 

In true community fashion, this $500 fund is built by the members, friends, and family of the credit union.  Donate as little as $5 to the fund and each donor will receive a plush bear as a souvenir.  Any denomination of donation is welcomed; the faster the fund gets to $500, the more scholarships we can give out to the youth of our community.  We’ve awarded at least $5,000 in scholarships so far and there is much more to come.  The next time you or your employees are in the credit union, consider contributing to the BEARy fund and the youth of our community.

• Teach your children good savings habits
• Your child gains a sense of independence
• They can join anytime.
• All Young Savers Account holders are automatically entered into the Beary Club drawings for $500 scholarships.
• No minimum balance requirements
• Just a 5 minimum opening deposit.