The world is changing and parents want to make sure their children are ready to succeed.  Education and training after graduation can help unlock that success.

Parents in Cranbrook, Fernie, Sparwood and Elkford can go to their local branch of East Kootenay Community Credit Union to kick-start their savings for their children’s future.

To be eligible for the $1,200 children must be born in 2007 or later. Families have three years, or until the day before the child’s ninth birthday, to submit an application for the grant.

No matching or additional contributions are required to access the $1,200. Even a small amount of savings in a RESP increases the likelihood that a child will continue their studies after high school.

“I encourage families in the East Kootenay to visit their credit union branch and take advantage of this generous program,” Kootenay East MLA Bill Bennett said. “This is an easy way to give your children a head start in their post-secondary education and career training.”

In the next decade more than 78% of job openings will require some form of post-secondary education and training.

With the $1,200 grant and an investment of $50 a month, savings could grow to $12,000 (based on a 3.5% annual growth rate). Growth of funds will depend on the amount invested and actual returns.

One in three British Columbians are members of a credit union. Central 1 Credit Union is the host organization of the grant for their 42 member credit unions, consisting of 365 branches and more than 550 ATMs across B.C.

The one-time grant of $1,200 per eligible child will be deposited into a Registered Education Savings Plan (RESP) upon approval of the application.

For more information visit your financial institution or go to www.canlearn.ca.

For more information on the B.C. Training and Education Savings Grant, go to www.gov.bc.ca/BCTESG or call 1-888-276-3624.

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