Think you know your money facts? From the history of credit unions to quirky savings habits, these fun trivia questions might surprise you. Take a few minutes to test your financial know-how and maybe pick up a few brilliant money insights along the way!
Fun and Surprising Financial Facts
1️⃣ Where Did the First Credit Union Start?
Answer: Germany, in 1852. But credit unions came to the U.S. soon after, the first one was founded in Manchester, New Hampshire in 1908. Credit unions were built on a simple idea: people helping people. That same philosophy still drives People Driven Credit Union today.
2️⃣ What’s the Average Lifespan of a $1 Bill?
Answer: About 5.8 years. After that, it’s pulled from circulation due to wear and tear. (So if you’ve still got one from your childhood allowance, it might be a collector’s item by now!)
3️⃣ True or False: Your Credit Score Drops Every Time You Check It.
Answer: False! Checking your own credit is considered a “soft inquiry” and doesn’t affect your score. In fact, reviewing it regularly is a great way to spot errors early and keep your finances on track.
4️⃣ What’s the Difference Between APR and APY?
Answer: APR (Annual Percentage Rate) is what you pay when you borrow. APY (Annual Percentage Yield) is what you earn when you save. One costs you money, the other makes you money, so it pays to know which is which!
5️⃣ What’s the Smallest U.S. Coin Ever Minted?
Answer: The half-cent coin, first minted in 1793 and discontinued in 1857. Its value today? Collectors pay hundreds for one. So yes — half a cent can be worth a fortune.
6️⃣ What’s One of the Easiest Ways to Grow Savings Automatically?
Answer: Direct deposit and automatic transfers! At People Driven Credit Union, you can set up recurring transfers to a savings account, Certificate of Deposit (CD), or even a Save to Win Account — making saving as automatic as paying your bills.
7️⃣ Bonus: What’s the “Rule of 72”?
Answer: It’s a simple formula to estimate how long it will take your money to double. Divide 72 by your interest rate, and you’ll get the approximate number of years it’ll take for your savings to double. (At 6% interest, it takes about 12 years.)
Disclosures: Educational content is provided for informational purposes only and should not be considered financial advice. Membership eligibility required for all accounts and loans. Federally insured by NCUA. Equal Opportunity Lender.
Test Your Financial Knowledge
Five quick questions. Learn a tip or two and brag about your score later.
