Most parents would love to see their children go to college, but starting savings can be a struggle for many families. To help local families get a jump start, Self-Help Credit Union is pleased to be part of a Durham partnership to launch a special savings program at Y.E. Smith Elementary Museum School.
Here’s how it works: The “Durham Kids Save” program deposits $100 into a savings account for every eligible kindergartner at the school. When families add funds to the accounts, their contributions will be matched dollar-for-dollar up to $100 each year through the child’s fifth grade year.
These savings accounts represent more than money; they also represent hope. In a recent article in The Triangle Tribune, City Councilman Steve Schewel points out that these accounts help children develop a vision of themselves as future college students. Research shows that children with savings accounts in their own name are significantly more likely to graduate and attend college.
“Durham Kids Save” is made possible by the City of Durham, the Corporation for Enterprise Development, Durham Public Schools, the East Durham Children’s Initiative, BB&T and us. Families at Y.E. Smith will be able to make their first deposit at a kick-off event to be held on Thursday (Jan. 14) this week.