ST. PAUL, MN (April 4, 2014) -- To celebrate Financial Literacy Month in April – as proclaimed by Minnesota Gov. Mark Dayton – the Minnesota Credit Union Network (MnCUN) and credit unions around the state will be holding events and showcasing their year-round efforts to provide financial education to credit union members and communities.
“Credit unions have a positive track record in Minnesota communities on financial literacy thanks to persistent efforts to educate and equip people to live in a fiscally-responsible manner,” said MnCUN President & CEO Mark D. Cummins. “Through financial education efforts and other community initiatives, credit unions across the state are widely known as local financial institutions that consumers can trust.”
Minnesota is currently home to five student-run credit unions located in four high schools and one K-12 school. Each year, the Minnesota Credit Union Foundation provides financial education grants to fund initiatives that positively impact credit union members and communities throughout the state. According to a 2013 survey of Minnesota credit unions, 90 percent provide financial services programs or tools to members under the age of 18.
Minnesota also ranks highly in many indicators related to personal finances, as outlined in a new infographic. Recent consumer studies confirm that Minnesotans rank higher in personal savings, retirement planning and other key areas of personal financial health, when compared with results in other states.
Minnesota is home to more than 1.6 million credit union members, served at more than 400 locations around the state.