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News Archive

$100K of free financial ed available to credit unions, SEGs

This falll, the Wisconsin Credit Union League and the Department of Financial Institutions are pleased to announce that up to 1,000 employees of credit unions or their employer groups can participate in the Investor Education in Your Workplace® (a $100 value per person), thanks to a grant from the Investor Protection Trust and the support of the Investor Protection Institute. The program offers participants unbiased, online training in personal finance and investing fundamentals.Image

The education is free of charge to employees on a first-come, first-served basis and covers:

  • Investing basics, goals, strategy & choices

  • Certificates, money market, mutual funds, stocks, bonds

  • Formula investment plans and dollar cost averaging

  • Education planning

  • Retirement planning & terminology 

 

Participant graduates make better financial decisions, demonstrate significant improvement in financial knowledge, attitudes and behaviors, and are more likely to use budgets and financial plans (including retirement vehicles like 401(k)s and IRAs. A program fact sheet explains more.

 

Participating employers are being asked for a one-time set-up fee to help cover a small percentage of the program cost, but arrangements can be made to identify a sponsor or secure a fee waiver if that cost poses a challenge.

Past participants will find there are several new features to the program, including updated and new content and improved online graphics and interactivity.

 

During the pilot phase of the program, from 2009 to 2011, 5,476 learners from 80 Wisconsin credit unions and 24 Wisconsin businesses completed 60,000 hours of training. Fourteen of those grads completed more advanced online study to become Certified Financial Educators® (CFE®) through the Heartland Institute. They, in turn, encouraged participation by the additional companies.

 

The program has been used in at least 10 states to encourage proactive investing and – as a result of additional states expected to adopt it – has become one of the nation’s fastest growing workplace-based investment education programs. It is expected to stimulate many millions of dollars in investing nationwide. In 2011 the program received a Wisconsin Financial Literacy Award.

To learn more, sign up for one of the free webinars being offered on July 24, August 7 or August 21 at 1 p.m. Participants are asked to register by Sept. 21 and begin learning Oct. 22.

 

If you have any questions, contact Chad Helminak, The League's Director of REAL Solutions & Outreach, at (608) 514-0080.


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