The Wisconsin Credit Union Foundation (The Foundation) announced that it has awarded a record $80,000 to 13 credit unions through their Credit Union Development and Real Solutions grants. Royal Credit Union (Royal) has been selected to receive $6,250 to continue their efforts to increase financial literacy and improve financial management in young adults through their finU program.
finU is Royal’s new, virtual financial education program specifically for people ages 14-19. It consists of four different classes designed to help boost financial independence and foster creative financial learning using a virtual format. Attendees can join for one class, all four classes, or anything in between. A posttest is required after each class and individuals that earn a score of 75% or more receive a cash incentive for their participation in the program.
“Financial management is a valuable skill for young adults to learn, but words like ‘budget’ and ‘credit’ don't typically scream excitement for this age group,” explains Financial Education Supervisor, Brittany O’Malley. “We wanted to create a fun and engaging program that could provide them with relevant information they can use as they begin to explore their own financial independence.”
The first finU program was held in April through May 2021. It soon became clear that this program had accomplished its goal of getting the attention of young adults across Wisconsin and Minnesota with each session having an average of 94 participants.
“We were thrilled to have such a great turnout and ensured we had additional financial educators available during the lessons to answer all the great questions that came in from the participants,” O’Malley shared. “Seeing how engaged participants were in the conversation confirmed that we were truly making a difference.”
Registration for the fall finU session will open on September 6, 2021. The program will be held every other Monday at 5:00 p.m. from October 4 through November 15. Registration will be limited to 50 participants per session. Visit rcu.org/finU for additional information.