A Look at Credit Unions’ Fun and Creative Financial Education Efforts in April
May 3, 2022
There are few things credit unions love more than educating their members and communities on the ins and outs of financial wellness. This year, during Financial Capability Month and Credit Union Youth Month, Northwest credit unions continued their commitment to helping adults, teens, and younger kids learn about money and move ever closer to bright financial futures.
Here are just a few of the ways credit unions fostered financial education last month:
- BECU contributed an article to Seattle Times — “Dollars and Sense: the Best Financial Advice I Ever Received” — filled with information on home buying, paying off debt, small business advice, and the practical ways to save. The article features advice from individuals in all stages of life, from high school to semiretired.
- CapEd Credit Union launched a new savings account called Rise Youth and Young Adult Savings, which challenges young members to review their finances and improve them. Young members can earn a special dividend rate until they turn 26 years old.
- Clackamas Federal Credit Union marked Credit Union Youth Month by handing out books —”Berenstain Bears Visit the Credit Union” — to all members aged nine and younger who visited a branch. The credit union also regularly works with schools and other organizations to provide financial education to students of all ages and underserved community members.
- Clarity, Mountain America, Horizon, P1FCU, and Idaho Central joined forces to host a Bite of Reality Fair at Middleton High School in Middleton, Idaho. Forrit Credit Union hosted a similar event at Century High School in Hillsboro, Oregon. The events led students through a real-life finance and budgeting simulation, giving them a taste of what it’s like to have adult financial responsibilities.
- For every new Youth Savings account opened and for every $10 deposit made to a youth savings account, Cutting Edge Credit Union entered the member into a contest to win a family fun day for four at Bullwinkle’s or Silverwood Theme Park.
- Global Credit Union offered any member who completed one of their “Finance and Budgets” (FAB) playlists a chance to win $500. Playlist subjects include Financial Fundamentals, Planning for Retirement, Owning a Home, Investing in Your Future, and several others. The credit union also raffled off gift baskets for youth savings accounts opened on a designated day.
- Kitsap Credit Union shared financial literacy tips on its social media accounts, noting the importance of keeping on top of your credit score and other key pointers from staff members on money matters.
- Numerica Credit Union engaged with members through a month-long social media campaign with a variety of themes that included Saving/Smart Spending, Credit/Debt, Goal Setting/Budgeting, and Kids Week. Members participated in activities like picture-sharing, giveaways, and Q&A sessions.
- Mountain American Credit Union recognized Financial Capability Month by celebrating the first anniversary of its Financial Guide Program. The program is a free service offered to anyone, regardless of membership, for one-on-one coaching to help with their financial challenges. Since March 2021, more than 2,500 individuals have benefitted from the program.
- OnPoint Community Credit Union published a Guide to Financial Wellness ebook filled with information on evaluating income, setting financial goals, establishing and adjusting budgets, improving credit for better financing offers, and thinking about long-term finances.
- P1FCU sponsored the Color Me Buck Coloring Contest for children to win a $25 Visa gift card. Winners were selected from three age groups.
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Posted in CU Difference.