2009-05-25 14:05:04 -
Just in time for June wedding bells, Water and Power Community Credit Union (WPCCU) is offering a MatriMoney (SM) wedding registry savings account to help carry newlyweds over the threshold of their new life together. The MatriMoney wedding cash registry allows couples to establish a special interest-bearing savings account which can be used to pool cash wedding gifts towards big ticket items such as honeymoon expenses, furniture or a down payment on a house. WPCCU gives each engaged couple announcement enclosures with information about the account, and gift givers receive cash gift acknowledgement cards to announce their gift to the lucky couple.
Another bonus, when couples complete four financial management classes offered online through the credit union’s website, their first $100 in
wedding registry gifts will be matched by the credit union until June 30, 2009.
"In today’s conservative financial environment, the biggest hurdle for newlyweds is budgeting and planning ahead for large financial purchases," said Celeste Zibelli, vice president of marketing and financial services for WPCCU. "The MatriMoney wedding cash gift registry provides an easy way for couples to learn together how to budget and manage their money, with a financial incentive to do so.”
Opening a MatriMoney Wedding Registry Account is Simple
1. Account holders must qualify for credit union membership. They can qualify through a relative who is a member, or by living, working, worshipping or attending college or trade school in a qualifying zip code. (See wpcu.org for member qualification information.)
2. The couple must open and maintain a joint savings account in good standing with $25, and their MatriMoney account must be opened with a minimum of $50.
3. A WPCCU member service representative will provide the couple with a MatriMoney wedding registry invitation kit, which contains gift instructions and cards for use in depositing gifts into the account, and information about participating in the $100 gift match.
4. The couple includes the gift instruction cards in shower and wedding invitations, or provides them directly to friends and family members.
5. The couple is notified through their gift acknowledgement card from the gift giver and through their WPCCU MatriMoney account statements as the account accumulates money. Monthly statements provide a record of those who contributed to the account to assist the newlyweds when the time comes to write thank-you cards.
One benefit of the program is that it provides a vehicle for family and friends to help the couple establish a disciplined savings program through a centralized account. By providing basic financial education, and helping couples to establish a budget and savings approach to their expenses, the credit union hopes to help newlyweds get off to a good financial start in their new life together.
About Water and Power Community Credit Union
Founded in 1936, Water and Power Community Credit Union (WPCCU) is a full-service financial cooperative celebrating 73 years of service to members in the Los Angeles area. The credit union has more than 54,000 members, and holds $467 million in assets. From its six branches located in Los Angeles downtown, the San Fernando Valley, San Gabriel Valley and the Westside, WPCCU and its partners offer members a complete array of products and services, including free checking; savings accounts; consumer, mortgage loans and savings certificates; as well as 24-hour, seven-day account access through the Internet, and phone. Under its California State Charter, WPCCU members come from the employee and retiree associations of the Los Angeles Department of Water and Power, more than 60 other sponsor organizations, and people who live, work, attend college, or worship in the greater Los Angeles area. For more information, visit www.wpcu.org :
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This credit union is federally insured by the National Credit Union Administration.
Water and Power Community Credit UnionLinda Heidtke, 213-580-1625
linda.heidtke@wpcu.org : mailto:linda.heidtke@wpcu.org
