| The Pulse (04-28-16) |
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April 28, 2016 ● Volume 5, Issue 17.5 The Pulse ArchiveNetwork Releases Infographic – Challenges for Money and Millennials
The Network has assembled and reviewed the research to show how millennials, girls, and credit scores are benefiting from financial education such as that required in Minnesota. During April, we’ve been highlighting events in locations across Minnesota, as well as releasing a series of infographics illustrating the benefits of financial education. The second infographic highlights the financial challenges millennials face. The statistics about money stress and poor savings rates may seem daunting, but research also shows that Financial Education efforts work. Credit unions have long been leaders in this effort, as it is at the core of the credit union philosophy of ‘people helping people’. If your credit union has financial education efforts specifically targeted to millennials, please contact Andrea Molnau, Director of Communications at the Minnesota Credit Union Network.
2016 BEST PLACES TO WORK - NOMINATION DEADLINE EXTENDED
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With grant assistance from the Minnesota Credit Union Foundation (MnCUF), City & County Credit Union (CCCU) launched its new “Money on the Bookshelf” program at its Lake Elmo branch (pictured).
Money on the Bookshelf is a free, financial literacy program that encourages children to learn about the basics of money, including opening an account, saving, earning money and decision making. To enroll in the program, youth can visit CCCU’s Lake Elmo branch with a parent/guardian and receive a tracking bookmark. After they receive their bookmark, they can begin checking out books off of the bookshelf.
Each book is labeled with reading levels and themes found in the book to inspire money conversations. Once a child reads 5 books, they can earn a $5 coupon to either add to their savings account or to redeem for fun prizes.
“We are extremely excited to launch Money on the Bookshelf! This program was inspired by our goal to provide parents with the tools and resources they needed to have positive money interaction with their children.” Patrick Pierce, CEO/President explained. “With help from the Minnesota Credit Union Foundation, we were able to not only achieve our goal, but also inspire youth in the East Metro to read and begin saving early. We are looking forward to launching this program in all of our branch locations in the coming months.”
CCCU was one of five credit unions that received a financial education grant in the fall of 2015.
MnCUF’s next cycle of financial education grants will open in August 2015; for more information on financial education grants, and other grants available, see the Minnesota Credit Union Foundation website.
Hundreds of lives have been lost and credit unions devastated following Saturday's 7.8 magnitude earthquake near Ecuador's northern coast, where World Council is working to bring payment systems to rural credit unions. As aftershocks continue to shake the region, rescuers search for survivors and credit unions try to reopen.
According to preliminary reports by World Council's Ecuadorian partner Coonecta, the earthquake damaged 26 credit unions, affecting 252,343 members in the region. Power outages, broken communication lines and damage to physical infrastructure is preventing credit union members from accessing their financial resources such as savings, remittances and payment systems.
Thanks to generous support from CUNA Mutual Group, World Council will provide immediate relief to credit union staff and support credit union rebuilding efforts. Much-needed cash contributions from the global credit union industry and individuals will offer additional assistance to those whose lives have been devastated.
Donations can be made online.
Minnesota Credit Union Network
555 Wabasha Street N, Suite 200
St. Paul, MN 55102
(651) 288-5170
(800) 477-1034
