Northwest Credit Union Foundation, BALANCE, Introduce New Financial Ed Tool
Saving for higher education and managing finances is daunting for most families. Northwest credit unions are offering two powerful solutions: matched savings and a comprehensive digital financial education toolkit.
Concord, CA, January 20, 2017 – Saving for higher education and managing finances is daunting for most families. Northwest credit unions are offering two powerful solutions: matched savings and a comprehensive digital financial education toolkit.
Credit unions offering the Northwest Matched Education Savings Account (MESA) Program provide financial assistance to individuals with lower incomes by helping them save for post-secondary education at Idaho, Oregon, or Washington schools. The program, facilitated by the Northwest Credit Union Foundation (NWCUF) and Montana’s Credit Unions for Community Development (MCUCD), offers a 3:1 savings match. For every dollar a participant saves, he or she will be eligible to receive another three dollars, with a maximum match of up to $1,500. One of the requirements for participation is completion of a personal finance/money management course.
The NWCUF selected BALANCE’s BalanceTrack eLearning modules to provide training to MESA account holders.
“We looked for a fun, easy, helpful resource for our MESA students and we found that in our partnership with BALANCE,” said Denise Gabel, NWCUF Executive Director.
Participants will utilize the BalanceTrack series of eLearning modules focusing on eight core financial topics: money management, checking account management, high-cost financial services, the psychology of spending, purchasing an automobile, credit matters, understanding credit reports, and repaying student debt. Each module includes coursework, worksheets, podcasts, and quizzes. At the end of each module, participants are tested on the concepts they learned.
“The more than 180 credit unions in the Northwest are focused on empowering families to save. Improving financial capability is exactly what not-for-profit, member-owned credit unions are all about,” said Gabel.
For more information, contact James Flores at [email protected], or for more details about the BalanceTrack eLearning modules, visit www.balancepro.org/balancetrack.
About The Northwest MESA Program
The Northwest MESA Program is a collaborative project between the Northwest Credit Union Association, Northwest Credit Union Foundation, Montana Credit Unions for Community Development, and US Department of Health and Human Services through the Assets for Independence program. Additional program partners include Idaho, Oregon, and Washington credit unions.
BALANCE is a nationwide non-profit organization headquartered in the Bay Area. Established in 1969, BALANCE is committed to helping individuals and families overcome financial challenges and meet their goals. The company offers education and coaching programs to provide help and hope to families overwhelmed by debt, facing foreclosure, struggling to master their money, caught in a cycle of over-priced fringe financial services, or trying to purchase their first home.
The Northwest Credit Union Foundation (NWCUF) is a 501(c)(3) organization dedicated to identifying and nurturing partnerships that bring together Northwest credit unions, community organizations and nonprofits to improve and grow the regional economy. NWCUF provides credit unions and community partners with support that promotes asset-building, economic empowerment, and cooperative development. Learn more at http://www.nwcuf.org.