Youth banking is transforming how credit unions engage families and prepare the next generation for financial success. In this episode of Credit Union Conversations, host Mark Ritter sits down with Alexey Krasnoriadtsev, CEO and co-founder of boucoup, to explore innovative family banking solutions that are changing the game for credit unions. Alexey shares his remarkable journey from Soviet-era Belarus to becoming a fintech entrepreneur in Austin, Texas, and explains why digital banking tools for kids and teens are no longer optional—they're essential. The conversation reveals how to teach kids about money using banking apps through practical features like parental oversight, chores and allowance tracking, and even simulated loans that build real-world financial literacy.

What You Will Learn in This Episode: 

✅ How youth banking programs have evolved from money-losing initiatives to profitable opportunities for credit unions, with kids now holding $800-$1,500 in deposits and generating full asset yields on no-cost accounts.

✅ Why family banking tools with parental controls, money management features, and digital chores and allowance systems are essential for teaching financial literacy in a cashless society, where kids need cards earlier than ever before.

✅ The critical mistakes credit unions make during digital banking implementation, including inadequate testing of edge-case scenarios and a lack of proper project planning that leads to production problems.

✅ How innovative banking education features like parent-supervised loans with interest and late fees help teens experience real-world financial concepts like amortization before entering adulthood.

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TIMESTAMPS:  

00:00 Intro: The 25-year challenge credit unions face in attracting young people, and a conversation about youth banking solutions

03:17 Alexey Krasnoriadtsev shares his origin story, from Soviet-era Belarus to America, working as a dishwasher and theme park cleaner before founding his mobile banking app company

10:30 Banking On solves a California credit union's digital banking crisis, transforming thousands of one-star reviews into five-star ratings through API-connected mobile banking apps

13:32 Boucoup, the family banking concept, explains how financial literacy tools help parents supervise kids' spending through chores and allowance, loans, and kid debit cards

26:22 Critical advice on credit union innovation implementation, emphasizing the importance of comprehensive testing, project planning, and quality assurance 

KEY TAKEAWAYS:  

✅ Youth banking is now a profitable strategy—today's cashless society means kids need cards early, resulting in average deposits of $800 for 13-year-olds and $1,500 for 17-year-olds, generating full 4% asset yields on no-cost accounts.

✅ Family banking tools create emotional bonds and practical financial literacy through features like peer-to-peer transfers with photos, digital chores and allowance tracking, and parent-supervised loans with interest rates and late fees that teach real-world financial concepts.

✅ Successful digital banking implementation requires comprehensive testing. Credit unions must demand detailed project plans, test 60+ edge-case scenarios with multiple accounts, and invest in quality assurance before production launch.

✅ Member engagement with the next generation starts with solving parent pain points—giving kids supervised debit cards instead of credit cards creates sticky family banking relationships where entire households bank together at one institution.

ABOUT THE GUEST:

CEO @ boucoup - super-charged youth banking platform

Boucoup - Website

Alexey Krasnoriadtsev - LinkedIn 

RESOURCES MENTIONED: 

Mark Ritter - Website

Mark Ritter - LinkedIn

SEO KEYWORDS: 

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