As the back-to-school season approaches, My First Nest Egg, an award winning digital financial education system that gamifies healthy financial habits for kids ages 3-13, is thrilled to announce its partnership with FORUM Credit Union, an 82 year old institution serving Central Indiana. The collaboration aims to provide FORUM Credit Union members and community with free resources to support youth financial education, empowering children with essential money management skills right in time for the new academic year. The need for youth financial education is a growing concern, and it led My First Nest Egg's co-founders, Nicolle Hood and Annie Shoen, both moms and former attorneys, to develop this interactive learning platform.
"The 'Amazon Effect' is a real issue with today's youth when it comes to understanding the value of money," said Hood, CEO of My First Nest Egg. "They open an app, click to order an item, and it arrives at their doorstep. Digital transactions have made it challenging for kids to grasp the true essence of money. Without proper financial education programs, our children's financial futures are at risk"
Recognizing the importance of fostering financial education in youth, FORUM Credit Union, which already provides innovative services and modern ways to meet members’ financial needs, eagerly joined forces with My First Nest Egg. Through this partnership, FORUM Credit Union will receive a customized co-branded version of the My First Nest Egg app and content, enabling them to provide their youngest members with an engaging and educational way to learn about earning, saving, and giving back. The offerings include a white-labeled smart piggy bank, an age-appropriate curriculum, a dedicated website, calculators, and more, all designed to enhance their youth programming.
Andy Mattingly, the Chief Operating Officer of the credit union, remarks that, "FORUM is excited to better serve our young savers and their families with an interactive, engaging way to learn about money basics while also teaching and reinforcing the concepts of saving, spending and sharing.”
" My First Nest Egg's COO, Annie Shoen, highlighted, "Money habits are formed as early as age seven, yet many kids lack exposure to even basic money concepts during these crucial years. This gap in early education has led to a financial literacy epidemic, which significantly impacts mental health in adulthood."
Research shows that 64% of adults identify money as a significant source of stress in their lives. Recognizing that money management is more about mindset than just math, My First Nest Egg aims to instill healthy financial habits during childhood, leading to improved financial outcomes and reduced financial stress in adulthood.
Nicolle Hood added, "Partnering with strong organizations like FORUM Credit Union provides an ideal opportunity to promote youth financial education across the U.S. The back-to-school launch with FORUM Credit Union marks a significant step forward in empowering kids with crucial financial skills for a brighter future."