Back to School Is an Excellent Time to Talk to Your Members About Personal Finance

Summer is coming to a close, which means back-to-school season is already here.

While members are getting ready for the school year, credit unions can help their members start the year off on the right track financially. Here are some ways to encourage your members, students, parents and educators to include personal finance education into their back-to-school routines:

  • Promote Your Youth Savings Programs: Many credit unions offer low- to no-fee savings products or student accounts with special features. If your credit union offers youth savings programs along with financial education, research shows that the combination of the two can be effective in helping students improve their long-term financial and education prospects.

Also, in-school youth savings programs or in-school credit union branches allow students in elementary, middle and high school to open and manage savings accounts, and learn good savings habits early on. If your credit union is interested in learning more about these programs, visit the Credit Unions in Schools page on MyCreditUnion.gov.

  • Highlight Your Financial Tools for Students: Your credit union may offer interactive learning experiences, such as online videos, games and education modules. In addition, NCUA’s interactive learning tools, Hit the Road and World of Cents, for K–12 students, help young people learn how to save, earn and spend money. These learning tools are available on MyCreditUnion.gov.

  • Continue Outreach to Your Field of Membership: Many credit union representatives attend back-to-school nights offered by schools and local organizations. This is your opportunity to connect with existing members while potentially gaining new members. Consider conducting a budgeting workshop to help parents manage the expenses that come with a new school year or offer parents the chance to open savings accounts for their children to help them get into the habit of saving.

Finally, NCUA’s Financial Literacy Resources webpage offers many digital and printed resources for credit unions to use when marketing and reaching out to the communities and members they serve.