Experienced Michigan credit union financial counselors share their best practices and financial counseling program details in a guide called Financial Counseling Best Practices that is now available on the Michigan Credit Union League (MCUL) website.
The guide was compiled by a working group of credit union financial counselors who are members of the MCUL & Affiliates’ Financial Education Council with the goal of gathering best practices to assist credit unions in forming or improving a formal or informal financial counseling program.
The best practices guide includes program details and the operational experiences of several Michigan credit unions. Credit unions just starting out in financial counseling may find information in the document to consider in creating a program and credit unions that have already established a program may find insight to best practices that can supplement their program.
Knowing the consumer need for trustworthy financial guidance while tight credit union budgets often restrict the number of staff able to attend a live training school, MCUL has for the past two years offered a unique guided self-study financial counseling training program attended by 180 credit union staff seeking to become Certified Credit Union Financial Counselors.
*This article originally appeared in MCUL’s Monitor newsletter on 11/21/11