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Youth Services

At HomeTown Credit Union, we know how important it is to shape our youngest members into financially responsible adults.

We’re committed to educating our youth in many different ways—from offering youth accounts that help teach real-life money management skills to student run operations that help teenagers learn integrity in the workplace and the importance of saving.

In September of 2011, we partnered with the Owatonna High School to introduce the first-of-its-kind student-run branch.

Each day, this branch is open to students, administration and staff over lunch breaks and offers regular branch services like withdrawals and deposits.

In addition, this unique branch:

  • Encourages all students to save
  • Serves as a model for financial responsibility
  • Provides employment and mentorship opportunities
  • Offers a partnership with teachers to collaborate and provide curriculum enhancements

In addition to regular branch services, our HomeTown employees take the opportunity to:

  1. Present financial literacy classes for topics like:
    • Financial aid and student loans
    • How to use a savings and checking account
    • How to build and maintain good credit
    • Investing and planning for the future
    • Fraud and identity theft
    • Employment and interviewing skills
    • And much more
  2. Serve as S.T.R.I.V.E Mentors. S.T.R.I.V.E, or Students Taking a Renewed Interest in the Value of Education, focuses on helping students set goals to improve and be successful in the future and is sponsored by the Owatonna Rotary program.
  3. Serve as Junior Achievement Volunteers.  Junior Achievement aims to prepare students to succeed in school and beyond by teaching them about the impact that they can have in the world around them.
  4. Assist the DECA program. DECA focuses on teaching students to be academically prepared, community oriented, professionally responsible and experienced leaders while centering on the themes of marketing, finance, hospitality and management.

The team members of HomeTown Credit Union, including its student-workers, have reached over 800 students over the past two years with financial literacy education, which has a direct impact on the financial success for the rest of the student’s lives.

HomeTown Credit Union helps our students get scholarships for success.  

The 2020 online scholarship application is now available!

What We Offer

  • Two $1000 and
  • Two $500 scholarships

To apply, complete the application and create a 1-2 minute video on how living a minimalist lifestyle can impact your financial health.

To be eligible, you must:

  • Be in good standing at HomeTown Credit Union for at least 6 months prior to application*
  • Be a graduating high school senior pursuing post high school education for the 2020/2021 school year
  • Planning to attend a private or public college, university, community college, or technical college accredited by the U.S. Department of Education

Apply for a Scholarship

2020 Foundation Scholarship Program is Now Open!

The Foundation Scholarship Council (FSC) is excited to kick off this year’s scholarship program! In 2020 we will award $20,000 in scholarships to help credit union members continue their education. More information and online applications are now available on the FSC website!

This year the council will be awarding $20,000 in $1,000 individual scholarships - providing 20 Minnesota credit union members the opportunity to cut the cost of college. Any member of a Minnesota Credit Union Network affiliated credit union pursuing post-secondary education in the fall 2019/spring 2020 OR is a high school senior graduating in 2020 is eligible to apply.

Essay Question:

“What is your plan to afford the costs of higher education based on your anticipated degree and future career income?”  (Essay tips: Please share your personal story; use the specifics you identified in the preliminary questions to write your essay)

The FSC has various materials available to help you promote the 2019-20 scholarship program to your members. Visit the Scholarships section for resources such as the FSC logo, postcard, lobby flyer and an insert.

With questions about the FSC scholarship program, contact us at scholarships@mncufoundation.org. We look forward to another successful scholarship year. 

*You must be a member of HomeTown for 6 months to be eligible for this scholarship, become a member by October 10, 2019.

Higher education is something we can all achieve. So, when it’s time to consider college loans, HomeTown is here with options.  Whether it’s paying for your whole tuition or the gap between your federal financial aid, HomeTown can help.

With Student Loans, you get:

  • Competitive interest rates, and with good grades, potentially lower rates
  • 30-day no-fee or interest cancellation policy
  • No origination fee for all student borrowers

Learn More About Student Loans and Apply

Private Student Loan Program

HomeTown offers private student loans through our partnership with cuStudentLoans, a credit union managed network.

  • Ideal for students who need a funding gap between the cost of school and their federal loans, grants, and scholarships.

New Private Student Loan

Pay for any qualified education expense including tuition, room & board, books, and other expenses.

  • No repayment penalty
  • Only $25 minimum payment toward interest while in school

Private Student Loan Consolidation

Consolidate and refinance one or multiple student loans into one—with a potentially lower interest rate.

  • Simplify your payments into one monthly payment
  • Consolidate federal and private student loans
  • Competitive rates with extended repayment term
  • Cosigner release available after 12 on-time principal and interest payments
  • Interest-only payment options available

Learn More About Student Loan Consolidation and Apply

Youth Accounts

HomeTown’s here to help you get them started off on the right financial foot.

We know how important it is to teach our youth the value of saving a dollar—and our youth accounts are designed for just that.

Kirby Kangaroo

A kid’s account that makes money fun! Kirby will show your kids saving tips and what it means to be responsible with money.

  • Perfect for kids 11 years or younger
  • Price incentives for every $25 saved
  • Birthday letter
  • Kirby activities like printables, jokes and more

Steps Accounts for Teens

When it’s time to grow out of the kid’s stuff, Steps Accounts is what’s next. This account introduces your teen to basic money management and teaches financial responsibility.

  • 6 month no-minimum Share Certificate
  • Cinch up Your Savings Share Certificate
  • Access Money Market Savings
  • Free checking account
  • ATM card

Credit Builder Loans

Credit Builder Loans are the perfect way to introduce financial responsibility through a loan payment. These loans are great ways to save up for a new phone, computer or even a down payment on a car.

  • No cosigner required
  • Borrow any amount from $500 to $3000
  • 12 month repayment term
  • Proceeds are frozen in a savings account and available to be accessed once the loan is paid in full

For more information on Youth Accounts, visit any branch to speak with a Credit Union Representative.