REAL Focus: expand your outreach with financial education

Credit unions build member loyalty and reach new target groups—particularly the next young generation of borrowers—through financial education. It's also the means to serve Wisconsin communities and advocate the "credit union difference." In early 2013, consider these opportunities for outreach:

Chad Helminak

Money Mission® is an online life simulation that teaches teens the fundamentals of personal finance. The game, which offers a chance to win state-level scholarships, introduces teens to credit unions, drives traffic to the credit union's website and opens a line of communication by which credit unions can create lasting relationships with the next generation of borrowers. It's being used by students in 48 states! Contact Ben Schweder at (262) 408-6026.

Credit unions have a free teaching tool to offer local schools. Thanks to generous gifts from credit unions, individuals and other supporters, the Wisconsin Credit Union Foundation provides the lifestyle money magazine called brass—and its student and teacher resources—free to any public high school in Wisconsin. Credit unions can visit www.studentprogram.com to see which schools are receiving classroom sets of the magazine and download complementary brass materials. The site is password protected so contact me for login instructions. Currently, 382 Wisconsin teachers in 309 schools are receiving brass materials quarterly. Credit unions can direct teachers to www.studentprogram.com to sign up and start receiving brass at any time.

Eighteen credit unions and the Wisconsin Credit Union Shared Service Centers will assist low-income taxpayers as part of AARP and state-sponsored free tax preparation sites through April 15. The site not only directs visitors to free filing assistance, but also encourages consumers to open accounts with credit unions to use direct deposit to receive refunds more quickly. I encourage all credit unions to use our PSA script for radio, web graphics and sample PSA/newsletter article to point to www.myfreetaxrefund.com., a site that explains the effort. The site can help any filer use direct deposit to avoid unnecessary fees. If your credit union is assisting with tax preparation this season, please contact me so we can recognize your efforts.

National Credit Union Youth Week, April 21-27, invites you to involve you members in a Saving Challenge and invite legislators to tour your youth-run branch using our sample communications.

April 20-27 marks Money Smart Week, a nationwide financial education campaign. The Federal Reserve Bank of Chicago, which began the effort, invites credit unions to sign on as program partners and offers a free partner kit to help you participate. This is prime time to reach out to Hispanics, students, single parents and young working families in their prime borrowing years.

The National Institute of Financial & Economic Literacy in Madison is now accepting registrations. Credit unions sponsor the attendance of local high school teachers (or a credit union's own financial trainers) at this summer workshop to help them improve their financial lessons for students. If you have a school branch it’s another way to deepen your relationship and if not, to create a relationship, with educators. The cost—at just $300—covers a full week of learning. College credit is available.

The Finance and Investment Challenge Bowl invites student teams to compete in a personal finance tournament that involves regional championships and statewide finals in May. Regional tournaments are held in Madison, Racine/Kenosha, Milwaukee, Rhinelander, the Fox Cities, Wausau and the Menomonie Reservation. Grades 9-12 from any city can participate. Contact Richard Entenmann at (608) 663-6332 to add local student groups to the competition.

The National Credit Union Foundation invites credit unions to hold a "Financially Fit" Day on April 3 that offers members action steps to improve their finances (or another campaign) and asks for a financial donation to support continued financial education efforts. Funds will be split 50/50 between NCUF and the Wisconsin Credit Union Foundation. Get involved using the free toolkit.

For more information regarding these updates, contact me at (608) 514-0080.