Hello is a new way of giving. It’s a place to connect, give meaningful gifts and grow dreams. Borrowing from the MatriMoney bridal registry concept, Hello is a baby registry account that starts to accumulate savings for a child even before the child is born. Friends, family, and co-workers who struggle with giving meaningful gifts to the couple and /or baby, now have an vehicle by which to give a gift and make a real impact on the child’s life. As the child grows and certain milestones in life occur, Hello provides a way for which the extended family unit to remain in contact with one another and continue to give gifts that are meaningful and relevant, instilling solid financial values in a child from a very early age.
The goals of Hello are quite simple:
- Promote savings early in life
- Capitalize on the time-value of money.
- Make savings easy, painless, and automatic (like brushing your teeth).
- Establish permission to market/communicate early in life
- Position the Credit Union to be relevant from day-one
- Deepen relationships with the entire family unit (it takes a village!)
Credit Union savings incentives and matching gifts are provided at milestones throughout the growing years. The incentives serve to keep momentum high and reward parents and family, and ultimately the child, for saving. “Check-in” points are also scheduled for parents to see the progress they are making and adjust plans for the future. Staying on track for short- and long-term savings is key.
Contact us to learn more about this idea from Filene i3.