In today’s world, financial education is fundamental, especially with the current economic landscape. It’s a foundational issue that needs to be taught in schools, at home, and in the workplace in order for people to take control of their financial lives.
“While many people have been given the opportunity to pursue academic or professional degrees, they have not been given access to the resources necessary to acquire a strong financial education,” said Amber Tynan, Member Relations Specialist for the League of Southeastern Credit Unions. Tynan serves as the team leader for LSCU’s financial education initiatives. “This huge gap continues to show in our credit union members’ financial choices, as evidenced through an increase in bankruptcies and foreclosures,” Tynan added.
Understanding the growing need for this type of education, credit unions in both Alabama and Florida are finding cost-effective ways to offer financial education services to members of all ages. According to Tynan, the goal is to enable members to better understand their financial position and take control of their finances. “The League of Southeastern Credit Unions wants to make sure that credit unions are the first place consumers turn to for reliable and comprehensive financial management information, advice, and education,” she said.
It is the LSCU’s commitment to provide credit union in Alabama and Florida with the resources to implement a financial education program that meets the needs of varied memberships. If members are given the tools to make wise financial decisions, the end result can be a positive impact on the credit union’s bottom line.
Innovative and effective programs are offered by credit unions of all sizes in both states. In this article, six successful credit union financial education programs are highlighted.