Do credit union financial literacy programs work?

by: Gina Ragusa

Every April, credit unions rally for National Financial Literacy month, but are their efforts effective?

Do consumers really listen (or care to listen) to the wealth of knowledge or does the information fall on deaf ears?

Credit Unions Online polled several credit unions about this annual event, asking if members seem to be absorbing the message and what they are doing to spread the word.

“I think financial literacy month is effective in a variety of ways,” says Kara Wenzl, marketing specialist, San Francisco Federal Credit Union ($938.5 million, San Francisco, CA). “First, it grows awareness of financial literacy as a cause that can be donated to or volunteered for by members and the community. Secondly, it gives San Francisco FCU and other credit unions the opportunity to highlight products and services they offer that can help members with their financial education.”

Jessica Pope, sales and marketing specialist at People’s Credit Union ($388 million, Middletown, RI) says that the month gives the credit union a chance to make financial goal attainment fun.


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