Minn. Commerce & Higher Education Commissioner visits feature credit unions’ commitment to fin...
Thursday, April 23, 2015
BRAINERD & COLLEGEVILLE, Minn. – Minnesota Department of Commerce Deputy Commissioner Shane Deal joined the Minnesota Credit Union Network (MnCUN) and Mid-Minnesota Federal Credit Union at an April 21 “Your Money, Your Goals” training session at Bridges of Hope, a nonprofit organization that serves Crow Wing County and surrounding communities.
“Your Money, Your Goals” is a toolkit developed by the Consumer Financial Protection Bureau (CFPB) that credit unions use to help their members set goals, choose financial products and build skills in managing money, credit, and debt. Credit unions also use “Your Money, Your Goals” to train non-profit groups, such as Bridges of Hope, that serve low-income consumers.
Deputy Commissioner Deal’s visit to Bridges of Hope highlighted the partnership between the Minnesota Department of Commerce and credit unions to provide financial education resources to consumers throughout the state.
Deal recognized Mid-Minnesota Federal Credit Union’s successful training efforts. “Personal finances can be a tough topic for families to discuss,” said Deputy Commissioner Deal. “The training Mid-Minnesota provides to nonprofits like Bridges of Hope helps start the conversation and gives Minnesotans of all ages a stronger foundation of financial skills.”
Later in the day, Deal joined Minnesota Department of Higher Education Commissioner Larry Pogemiller and MnCUN to visit Collegeville Community Credit Union’s Sexton Commons branch on the campus of Saint John’s University.
Collegeville Community Credit Union opened the Sexton Commons branch – the first student-run branch on a university campus in Minnesota – with support from a grant received from the Minnesota Credit Union Foundation. The visit by Deal and Pogemiller showcased the partnership between Collegeville Community Credit Union and the faculty, staff and students at Saint John’s University to provide financial education resources.
“Financial education is a lifelong learning experience,” said Commissioner Pogemiller. “Collegeville Community Credit Union’s student-run branch provides students with opportunities to share the financial knowledge they gain on the job with their classmates and to develop experience that can help them in their future careers.”
Both events were held to help celebrate Financial Literacy Month in April and to emphasize the commitment credit unions throughout the state have to financial education for people of all ages.
“As community-focused organizations, credit unions look beyond the dollars and cents on their balance sheets,” said Minnesota Credit Union Network President & CEO Mark D. Cummins. “Credit unions partner with nonprofits and schools serving all age levels in their communities to teach all Minnesotans the money management skills they’ll need for a successful future.”
The Minnesota Credit Union Network is the statewide trade association that works to ensure the success, growth and vitality of Minnesota credit unions. With nearly $20 billion in assets, Minnesota credit unions are local, trusted financial cooperatives that serve more than 1.6 million members at 400+ branch locations around the state. As not-for-profit institutions, credit unions give back to the communities they serve. For more information, visit www.mncun.org.