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Building a Healthier Financial Future

Oct  20 
Joyce Ethridge  Staff Writer, Fiserv 

How credit unions serve members through financial education

As member-owned institutions, credit unions operate to promote the well-being of their members and communities. An essential part of that commitment is making sure members have access to the tools and information they need to plan their financial futures.

And that help is needed. According to the recent Fiserv Expectations & Experiences quarterly consumer trends research, “Cards, Credit and Consumer Control,” 55% of consumers are not satisfied with their financial health – and that number rises to 72% with Gen Z consumers.

Credit unions want to do their part to turn this around. We spoke to some of our credit union clients as part of International Credit Union Day, and they resoundingly agree that helping members live a healthy financial life is primary to their mission and a big part of what they do on a day-to-day basis.

Clare Fowler, SVP of Operations Technology for NavyArmy Community Credit Union, said education in financial literacy is a key strategic goal for the credit union.

Jill Peterson, CEO of ABCO Federal Credit Union, explained, " We launched ABCO Academy, where our members can get information about financial services their families need and that they use every single day." ABCO Academy provides a library of financial information as well as live virtual sessions.

PCM Credit Union has created a financial literacy program for children called Kirby Kangaroo to start children on the right path, said Cathy Becks, PCM EVP.

Jamie Bella, VP of Program Management, Telhio Credit Union, said, “We do a lot of financial education within our communities. We love to go into schools. We love to be a part of children learning and understanding what basic financial acumen is. But we also have a ton of financial education out there for our adults as well.”

“We see the spirit and resolve of our clients to fulfill their mission every day," said Theo Curey, president, Credit Union Solutions, Fiserv. "Their members and communities are better off because of the credit union professionals who have a vision to build a healthier financial future.

“Fiserv shares that vision with programs for credit unions to pass along to their members, like Goalsetter (a financial literacy platform for families), CardHub (tracking credit card spending) and Credit Sense (credit score monitoring).”