When it comes to financial education, no other financial institution helps members learn more about their money habits than Credit Unions. In this article, we’ll outline a few ways ALLIANCE and other credit unions can assist members in learning about their financial wellbeing.
Financial education gives us the skills and knowledge we need to make informed financial decisions. Financial education covers a wide range of topics, including budgeting, saving, investing, credit management, and debt reduction. Credit unions can provide their members with access to financial education resources that will help them make better financial decisions.
Providing members with access to financial education resources from external organizations is a unique way to supply financial education. For example, credit unions can partner with non-profit organizations that offer financial education programs. These programs can be tailored to meet the needs of the credit union's members and can be delivered online or in-person. ALLIANCE offers access to Zogo, the app that pays you for learning simple financial education tips and tricks, so feel free to check it out!
Credit Unions often utilize a unique offering of financial products and services that promote financial wellbeing, as opposed to other financial institutions. For example, ALLIANCE offers balance transfers and lower rates on loans to help members consolidate high-interest debt, alongside savings accounts with higher interest rates than traditional banks, which can encourage members to save more money. ALLIANCE offers Money Market accounts that help your savings grow over time, for example.
Finally, ALLIANCE puts on events that help educate our members and community on financial health, such as Shred Day, Home Buyer Seminars, and more. Stay tuned to our social media pages, as well as the events page on our website to be informed of our next event!
In conclusion, credit unions can help their members with financial education by providing them with access to a range of resources and services. By offering workshops, webinars, one-on-one consultations, and online resources, credit unions can help their members make informed financial decisions. They can also partner with external organizations to provide tailored financial education programs. By promoting financial wellbeing through their products and services, credit unions can help their members achieve their financial goals and improve their overall financial health.
