Learn More About the Harbor Beach CSA Program

Parent Packet

Learn about the program and how it benefits your student.

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Community Reinvestment

In the long-term, CSAs can increase postsecondary education attainment and completion and, eventually, go on to bring talent back to our community and boost the local economy.

Automatic Enrollment

Our CSA program automatically enrolls Harbor Beach Community School student in a community-based, interest-bearing account with incentives and seed deposits, reducing barriers to entry.

Start Saving Early

CSA programs engage students and their families at a young age, and go on to offer incentives, resources, and educational activities that grow alongside students.

Supporting Every Goal

When a student knows that their community supports their postsecondary endeavors with a CSA, they understand that their aspirations are attainable.

After fall Count Day, an account will be opened for each new student automatically at Frankenmuth Credit Union. The Storrs Family Fund at the Huron County Community Foundation will make an initial deposit of $100. There are no fees or requirements, and your student will earn an additional smaller deposit each year they are enrolled at HBCS based on funding available from the Storrs Family Fund.

Private deposits can be made by your student or yourself. Deposit Days and financial education will take place at your student’s school at least twice per year.

After students graduate from high school, they can use their CSA account to pay for college or career costs including tuition, fees, equipment, books, costs of certifications, or career supplies.

See our Parent & Guardian Packet to learn more about the program.

❊ FAQs  for Parents & Guardians

  • The Harbor Beach Community Schools Storrs Family CSA is a Children’s Savings Account program brought to you by the Huron County Community Foundation (HCCF), Frankenmuth Credit Union and the Harbor Beach Community Schools. CSA provides financial education to students. The program also helps students to begin saving for college or career expenses. HCCF will open accounts at Frankenmuth Credit Union for every new student to the HBCS district. Every new student will receive an initial $100 deposit with an additional deposit each year the student is enrolled at HBCS.

  • It is a Deposit-Only, Certificate of Deposit. HCCF is the owner of the account. The funds remain in the account until the HCCF approves your withdrawal for college and/or career expenses after high school graduation. There are no feesand there is no minimum balance requirement.

    Deposit Options include: Frankenmuth Credit Union Harbor Beach Branch and school Deposit Days. Anyone can deposit money into the account.

  • The CSA account is a Children's Savings Account. All savings are dedicated to career/education after high school. This includes tuition for traditional 2/4-year degrees, professional training, or skilled trades’ certification. CSA can also be used for other educational and career expenses such as lab supplies, textbooks, steel-toe boots, etc.

  • Nothing. The account will be opened automatically.

  • CSA accounts will remain open until six years after your child's anticipated graduation date, even if they are no longer enrolled at HBCS. Your child can close their account after graduating from high school if they wish to do so.

    When the six years are complete and the dollars have not been utilized by the student, philanthropic dollars will bereturned to the CSA program.

  • The CSA account exists to support post-secondary and career pathways for every student. As a result, contributions cannot be used for any other purpose. Funds are distributed when a student has career and or college expenses after high school graduation.

  • Account balances will be provided at least twice per year in the classroom. Account balances can also be accessed by qualified persons at the Frankenmuth Credit Union Harbor Beach branch.

  • HBCS provides the student's name, state student number, and date of birth.

  • No, because the account is under the HCCF’s name it will not impact your ability to receive public assistance nor will it be used in FAFSA calculation.

  • No, all information provided to the program is strictly confidential and will never be used for marketing purposes.

❊ FAQs for Prospective Partners & Funders

    • CSAs are community-based basic savings accounts for students, giving them a chance to gain hands-on financial education and save for the future at the same time. Funds can be used for educational endeavors after high school, whether that’s college, trade school, career training, or another form of schooling.

    • CSA programs promote financial literacy, educational attainment, and future economic stability, and boost local economies. In fact, studies show that parents and guardians who enrolled their student in a Children’s Savings Account (CSA) with even just $1 had higher expectations for their children to pursue college than those who didn’t participate. Parents with children enrolled in one CSA program were nearly twice as likely to expect their children to attend college. (U.S. Government Accountability Office)

    • CSAs help students in our own neighborhoods believe in the power of their dreams. In the long-term, CSAs can increase postsecondary education attainment and completion and, eventually, go on to bring talent back to their community and boost the local economy.

    • While students and their parents/guardians contribute their own money to their account, incentives and seed deposits help encourage saving and reduce barriers to entry. Incentives and seed deposits are funded through a mix of public funds, private philanthropy, and corporate sponsorships. Some organizations choose to match student deposits, tied to a specific event or timeframe.

    • Metrics we consider can include account participation, savings activity, and post-secondary enrollment data over time. However, even more important than the amount saved is the number of students engaged; we are aiming to help students believe in the power of their dreams, and understand that education after high school is attainable.

    • Donations and contributions to our CSA program through a 501(c)(3) entity are tax-deductible.

  • CSA programs are often managed by nonprofit coalitions, school districts, or municipal entities, in partnership with financial institutions.

    • There are many ways for partners to support our program. We are always looking for community-centric partners to provide resources and funding, offer in-kind support, host events, volunteer, or help promote the program through their own networks. Reach out via our contact page to see how you can get involved.