September is College Savings Month, a month dedicated to inspiring communities across the country to save for children’s futures – be it a college, trade school or another form of post-secondary education.
It is the perfect time to learn about children’s savings accounts (CSA’s), a vital tool for building futures, raising post-secondary education aspirations, and strengthening the future of Marinette and Menominee Counties.
The M&M Area Community Foundation’s (MMACF) children’s savings account program, the “Future Fund”, is entering its second school year of supporting our students. All kindergarten students enrolled throughout Marinette and Menominee Counties, as well as home-school and virtual school students, will have a $50 deposit-only savings account established by the Community Foundation at a financial institution in their community. Future Fund accounts will grow by additional deposits from the Community Foundation during the students’ K-12 school career as well as interest earned on the accounts.
“Our Future Fund provides an opportunity for every child to feel valued, to learn about financial literacy, and to imagine what tomorrow will bring when the time comes to consider their future beyond high school,” stated Paula Gruszynski, MMACF Executive Director. “It isn’t about $50 or what compounded interest will be after 12 years of school, it is about the possibilities that having a savings account affords,” Gruszynski added.
The Future Fund enrollment process is managed by the MMACF, in partnership with school districts and participating savings institutions. They include Nicolet National Bank, mBank, Delta County Credit Union, Stephenson National Bank & Trust, Peshtigo National Bank and Integra First Federal Credit Union. Schools are sharing information regarding the Future Fund savings accounts with the parents of kindergarten students in their district.
The Foundation needs community support to grow and expand the Future Fund. Its goal is to raise a one million dollar endowment to fully fund the promise made to our children. We are well on our way, we need you to help us keep that promise!
For more information on how to give back to our communities via the Future Fund, please contact Paula Gruszynski at 906-864-3599. Checks for this fund may be mailed to the MMACF at 1110 10th Avenue, Suite L-1, Menominee, MI 49858.
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