City, UMe Offer Savings Accounts for Babies

First published in the Feb. 5 print issue of the Burbank Leader.

The city of Burbank Treasurer’s Office has partnered with UMe Credit Union to give Burbank babies a head start on saving for their future.
When Burbank residents open a UMe Savings Account for their baby (12 months and under), UMe will deposit an extra $50 in their account to get them started. In addition to the $50 deposit, membership and monthly fees will be waived.
“One of our goals at the City Treasurer’s Office is to promote financial education in Burbank,” said City Treasurer Krystle Ang Palmer. “We are excited to partner with UMe Credit Union and have Burbank be one of the few cities in the country to offer a universal children’s savings program in order to promote economic opportunity, discipline, and financial responsibility.”
To receive the $50 deposit, Burbank residents must complete a membership application with UMe Credit Union, as well as provide the baby’s social security number and make an initial $5 deposit. To learn more about the program, visit umecreditunion.com.