Real Solutions - A National Credit Union Foundation Program

Carter Federal Credit Union (CFCU) is increasing opportunities to access financial education and financial counseling services through its Collaborative Financial Education Pilot Program that combines education with entertainment for an innovative approach to financial education.

Credit unions are committed to financial literacy and members’ well being. But traditional outreach, especially to large groups like students and SEG employees, often falls short. The answer is not a better flyer or a perkier speaker. Instead, explore with us the idea of experiential learning – learning through doing.

Copies of the new book “Money Rules: The Simple Path to Lifelong Security” by bestselling personal finance author Jean Chatzky are now available from the National Credit Union Foundation (NCUF). “Money Rules” contains a set of smart, actionable, engaging rules that if followed will allow readers to enjoy a lifetime of financial security and eliminate their stress about money.

To mark the milestone of 10,000 Connecticut students participating in Financial Reality Fairs since the start of the program during the 2008-2009 school year, more than 500 students from 14 local high schools attended a fair held at the Connecticut State Capitol in Hartford on 10/24/12.

Around 200 teens in Gallup, N.M. recently got a taste of money management by attending the unique “Crazy Cash City” money-spending simulation on October 9-11, 2012. The event was hosted by First Financial Credit Union in partnership with First Nations Development Institute for local high school students, the majority of whom are Native American. The exercise – which was a test of a new pilot program – was intended as an experiential learning opportunity for students taking a financial literacy class this semester.

From the Filene Research Institute – The old proverb goes, “A chain is only as strong as its weakest link.” Consider a chain that links consumers’ current financial status and well-being with their ideal situations. Where is the stress point? We need look no further than consumers themselves.

From CUNA News Now – A healthy dose of reality goes a long way, when it comes to shaping kids’ knowledge of and perceptions about their finances. That is the philosophy behind the “CU 4 Reality” program offered by the Texas Credit Union League. CU 4 Reality Fairs is a turn-key program available to the 81 Texas credit unions that participate in the league’s statewide REAL Solutions initiative designed to help Texans of modest means.

Last Thursday, the Illinois Credit Union League (ICUL) was the first League in the nation to host for its staff a dynamic, new Retirement Fair created by the National Credit Union Foundation’s (NCUF) REAL Solutions Program in cooperation with CUNA Mutual Group.

The National Credit Union Foundation (NCUF) is encouraging credit unions to submit grant proposals to the Financial Capability Innovation Fund II (FCIF II), an initiative led by the Center for Financial Services Innovation (CFSI), the nation’s leading authority on underserved consumers. FCIF II will provide valuable financial and technical assistance to innovative nonprofit-led interventions designed to promote financial capability among low-income and underserved consumers. Credit unions are able to submit applications in response to CFSI’s recently released Request for Proposals that outlines the competitive process for distribution of $2.5 million of grant funding.

Prior to the first REAL Solutions enhanced version of the Credit Union Financial Counseling Certification Program (FiCEP) to certify credit union financial counselors, there was only one certified financial counselor in credit unions in Mississippi. Eighteen months and two programs later, there are now 59 certified credit union financial counselors in 17 credit unions in Mississippi.

Thanks to the ‘Foundation FOCUS’ statewide initiative from the Texas Credit Union Foundation (TCUF), Texans are working together to improve the financial well-being in their communities, from preschool to adulthood. The collaborative financial literacy initiative was expanded with the help of a National Credit Union Foundation (NCUF) Financial Education Grant.

The National Credit Union Foundation’s REAL Solutions Program in cooperation with the CUNA Mutual Group has developed a new Retirement Fair to assist credit unions help their member and staff better prepare for retirement. The fair is designed to have people think more carefully about the type of lifestyle they would like to pursue in retirement and then link it to their financial plan.

From USA Today – Financial abuse of the elderly is getting worse, and most seniors don’t know how to seek reliable financial help.

The NerdWallet finance blog recently named its top picks for university credit unions with financial literacy resources.

“Poorest Americans Turning To Payday Loans To Afford Food, Electricity” from Huffington Post and “Payday Lending in America: Who Borrows, Where They Borrow, and Why” from Pew Charitable Trust.