My First Nest Egg partners with City & County Credit Union to teach healthy financial habits to kids ages 3-13
Women-founded digital financial literacy app to promote youth financial literacy now free to members of City & County Credit Union
PHOENIX, AZ (July 11, 2023) — My First Nest Egg, a new digital financial literacy system that gamifies healthy financial habits for kids ages 3-13 announced partnerships with St. Paul, MN.-based City & County Credit Union, to provide members free access to support youth financial literacy.
Growing concerns over youth financial literacy led My First Nest Egg co-founders Nicolle Hood and Annie Shoen, both moms and former attorneys, to create the interactive learning software.
“The ‘Amazon Effect’ is a real issue with youth today when it comes to understanding the value of money,” said Hood who serves as CEO of My First Nest Egg. “They open an app, click to order an item and it arrives on their doorstep. Kids do not transact with cash, most everything is digital and this has prevented them from truly grasping how money works. Without extra financial literacy programs, this paints a very scary picture of our children’s financial futures.”
Financial literacy in youth is also a critical priority for City & County Credit Union (CCCU), with $1.1B in assets under management and serving over 60,000 members across 12 branches. CCCU will receive a custom co-branded version of the My First Nest Egg app and content to teach its youngest members a fun way to earn, save and be generous. This includes a white-labeled smart piggy bank, an age-appropriate curriculum, a website, calculators, and more to build on its youth programming.
“At City & County Credit Union, we believe that it’s never too early to start learning about important money topics,” stated Lucie Misfeldt, Community Engagement Manager. Misfeldt added, “That’s why we are thrilled to partner with My First Nest Egg – we both truly believe in the shared mission of making a difference in our community improving children’s financial literacy.”
“Money habits are set as early as age seven, but most kids lack exposure to even basic money concepts during these early years,” said Shoen, who serves as COO of My First Nest Egg. “This lack of early education has caused a financial literacy epidemic and is a key driver of poor mental health in adulthood.”
In fact, 64% of adults identify money as a significant stressor in their lives. Money is more about the mind than it is the math, and My First Nest Egg seeks to instill good habits in childhood to enhance financial outcomes and decrease financial stress in adulthood.
“Partnering with strong organizations like CCCU is an ideal way to impact youth financial literacy across the U.S.,” said Hood. “We are hoping to bring My First Nest Egg to as many credit unions and other trusted institutions as possible in order to eradicate financial illiteracy.”
About My First Nest Egg
Co-founders Nicolle and Annie, both mothers, embarked on creating My First Nest Egg to address the financial education needs of their own children. Developed with input from child psychologists, financial experts, educators, and parents, My First Nest Egg empowers families to instill healthy financial habits in their young children through a fun and educational platform. For more information, visit MyFirstNestEgg.com, and follow My First Nest Egg on Facebook, Instagram, and LinkedIn.
About City & County Credit Union
City & County Credit Union is a cooperatively owned, not-for-profit credit union based in Saint Paul, Minnesota, with more than 60,000 members and $1.1 Billion in assets. Founded in 1928 to serve the employees of Ramsey County and Saint Paul, City & County Credit union now serves those who live, work, worship, or attend school in Carver, Hennepin, McLeod, Meeker, Wright, Ramsey, Washington or Dakota county as well as the City of St. Paul employees, Ramsey County employees and General Mills employees, retirees, and their family members nationwide. To learn more, call 651-225-2700 or visit www.cccu.com.
