To continue its 150-year heritage of supporting financial education, Union Bank, N.A., recently launched the Yuby children’s app. Yuby is a convenient, interactive financial education tool that uses “virtual” money to help teach children about responsible spending, saving, budgeting and charitable giving. The new app is available for free download on Apple® and Android™smartphones and tablets through the Apple App Store and Google Play.
“We’re always exploring new ways to enhance and expand the learning process, and Yuby is a natural extension of our ongoing financial education efforts,” said Union Bank Senior Executive Vice President Pierre P. Habis, head of Community and Private Banking. “We recognize that teaching young people how to become responsible spenders and savvy savers empowers them for the future.”
Yuby has three core features:
- A Chore List to track ways to earn money;
- An Activity Log to track money earned and spent; and
- A Wish List to compare the cost of wish list items and to track savings progress.
Yuby provides engaging, age-appropriate activities and tools for children and is a way for adults to participate in the learning process by starting conversations about money with kids. Yuby actions, such as setting an allowance, making deposits and spending money, require parental approval using a PIN.
“Our hope is that Yuby helps to instill a sense of financial responsibility and understanding,” added Habis. “We’ve found that teaching the financial cycle of how to earn money, spend responsibly, save consistently and even give back through donating – including with youth – are important elements to building strong communities.”
Union Bank teamed up with emerging technology software company Mutual Mobile to develop Yuby.
Congratulations Union Bank!