Re: A new project
Settummanque, the blackeagle (waltoml@WKUVX1.WKU.EDU)
Thu, 30 Jun 1994 20:06:31 EDT
>OK gang, I need a bit of advice in setting up a new program for both my
>employer and my local Council. My boss(aka: the Coucil President AND my
>father) has asked me to develop a new program for the Scouts in the Council.
>I work for a farely large Credit Union (a non-profit financial cooperative).
>We would like to create a method of allowing the boys to save up for camp and
>other activities similar to a Christmas club account.
That sounds like a real winner, Jim! A "Camper Club account"!!
>So far, I've decided that we would open an account to be jointly held by the
>Unit and the Council(Mostly for the use of the Coucil Tax ID number).
Bad move. It could cause some problems if the local Council is having
(or perceives to be having) cashflow problems. Once that start
happening, then the program (or any program, for that matter), is
pretty well dead in the water). I would set it up just like a
Christmas Club account, with a VERY SMALL percentage (like 1 percent)
to go to the Council, if that's the co-intent there; or set it up
under the child's SSN to avoid taxation (it is my understanding that
up to the dependency exemption can be given to a child tax-free..most
camps run at the MOST $600 (Philmont, National Jamboree and the
>account would have a sub-account for each member of the unit, so the money
>would never co-mingle. Monthly statements would provide the Unit Leader with
>a timely accounting of the funds each boy has saved.
How about if the statements were to be sent to the Troop Committee
Chair instead? Sending them to the unit leader really has little
usage except to allow the leader to badger those poor kids that
haven't been "contributing to their summer camp experiences". The
same thing would probably happen if the Troop Committee Chair had
them, so that leads me to saying "forget the adults...send them to the
kid!" Most Scouts have to work on the Personal Management Merit Badge
and this would help toward completing the requirements (like telling
what's the benefits of doing it; keeping records for 90 days, and the
>What I need is some advice as to how a Unit Leader would like to see this
>sort of thing work. So far, I have complete freedom in designing the program.
>I'd also like some advice in how to get people to participate in this and
>make it as easy as possible for them. I can probably even get away with
>interest baring accounts once they reach a certain level. I'd also like to
>see this help the boys in saving their own funds for summer camp, instead of
>just having mom or dad sign a check. Thanks for the help.
If I was going about this, I would give wide publicity about this
plan. I mean WIDE. I would not allow for a Scout to take out any
money unless his unit's Committee Chair and parents sign a form
authorizing it, and give it a penalty for early withdrawal to be paid
not to the credit union but rather the local Council's camping
program (like 10 percent).
I would give every unit leader participating special "deposit slips"
in Scouting Red to give to the Scouts and their parents. For
instance, a Scout doing lawncare can give the deposit slip (which on
one side, explains the program and the address of the Credit Union)
and on the other side, allows for the person (parent, Scout) to fill
it out and put it in the mail along with the check or money order to
the Credit Union.
Will they do it? Sure they would. They would probably give a little
more if they KNEW that the Scout was going to use it for camp and not
to see "Speed" with his friend and a couple of girls!
That's another reason why I say "give the account information to the
Scout" so that he knows how much he'd work toward that goal as well
as to verify that he's not working for free labor.
I would also give some incentives (i.e. "money deposited") by
corporate partners or by the Credit Union itself for the achievement
of outstanding performance ("A's") in school classes. I would also
work with employers of Scouts to provide "matching funds" for Scouts
whom are working their way to camp by working afterschool at the
local McDonalds or Wendy's.
Finally, I would publicly recognize those Scouts (and Scouters) that
have participated by getting a fullpage ad with their names and the
Camp or facility (Wood Badge, Philmont, National Jamboree, name of
local Camp) that they have saved toward.
This could go a LONG way, Jim, in proving that "your money's always
put to good use when you place it in a Credit Union".
(disclaimer here: When I was 15 and 16, I served on the Board of
Directors of the Fort Knox High School Credit Union, a student project
of the Fort Knox Federal Credit Union. I learned much from that
program and many of my comments here are based on that experience.)
Settummanque!@HEY! NOW you know, Jessiann, why I love Credit Unions
moreso than Banks!
Settummanque, the blackeagle... (MAJ) Mike L. Walton (
(h) 502-782-7992 (f) 502-781-7279 (w) 502-782-7467 |-=-|]
3201-D Cave Springs Avenue -- Greenwood, KY 42104-4439 -=====-
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