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LENEXA, Kan.-Community- America CU has launched a new mobile app to teach children about saving money.
The free app, known as "Socky Saves," features "Socky Saves-a-Lot," a sock puppet character to teach kids about money management. Sam Passer, VP of program services at the 170,000-member, $1.9-billion credit union, explained that the idea came to him after taking his five-year-old daughter to the branch when her piggy bank was full.
That sparked a conversation about what happens to the money at the branch, how to know it's safe, and understanding how much money she has in her account. Since she's always asking to borrow Passer's iPhone, it made him think about the possibility of an app to teach kids more about saving.
"Socky Saves" was developed internally and CommunityAmerica was able...