FLINT, Mich.–Financial Plus Credit Union has introduced a new Youth Certificate that began its life as part of a “Spark Tank” competition.
The $1.53-billion Financial Plus said the idea for the product began with Senior Project Manager Jordin Haskin, who won first place at the Crossroads Chapter level of the Michigan Credit Union League’s (MCUL) CU Spark Tank competition, with a Youth Certificate, designed to help families save for their children’s future dreams.
According to Financial Plus, Haskin’s inspiration came from her own experience as a parent.
“I wanted to start saving for my kids, Lily and Landon, but not just for college,” Haskin said in a statement. “What if their dreams take them down a different path? I don’t want to limit their possibilities before they even have a chance to discover their passions.”
About the Product
The Youth Certificate offers a 4% APY on a 12-month term for members 24 and under, with no minimum balance required. Members can add funds at any time and make a one-time withdrawal without penalty, giving families the flexibility to save for whatever their child’s future may hold, the credit union said.
“Jordin’s journey from concept to product launch demonstrates the power of creating a culture that empowers employees to innovate and shape the member experience,” said Chief Human Resources Officer and SVP of Member Experience DeAnna Wallace said in a statement. “Her idea has become a solution that directly benefits our youngest members and their families.”
About the Competition
The CU Spark Tank competition hosted by the MCUL celebrates the next generation of leaders in the credit union movement, and for Haskin, it became the catalyst for real-world impact. Presenting her Youth Certificate concept, Haskin advanced to the semi-finals at the League’s Annual Convention and Exposition in Grand Rapids, Financial Plus CU said.
“What began as a simple idea to help my own family has grown into a product that will help other families save for their children’s dreams,” Haskin said in a statement. “That’s what had made this journey so meaningful.”
