The Wisconsin Credit Union League sent out a great press release on financial literacy month about the great work that WI credit unions do around financial literacy all year-round.
April is Financial Literacy Month, but credit unions – which are not-for-profit financial institutions owned by their 2.2 million members – have been recognized in a state proclamation for their efforts to teach sound money management year-round. These efforts are part of credit unions’ voluntary REAL Solutions initiative, which aims to help people improve their financial position without regard for profit. For example, credit unions offer:
Youth-run, in-school credit unions. Young people have saved more than $2.1 million in 109 youth-run branches of credit unions housed inside schools and youth centers statewide. None of the branches drive credit union profits; they teach young people the habit of saving. The branches are considered a “best practice” for youth financial education.
Savings programs. April 17-23 is National Credit Union Youth Week. The observance annually invites younger members to save. As part of last year’s observance, 3,800 young people deposited $385,339 in savings accounts.
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