April is Financial Literacy Month: COVID-19 tips and tools offered all month by MN Credit Unions
Tuesday, April 7, 2020
CUInsight (April 1, 2020) - Since 2004, April has been recognized as Financial Literacy Month, and this year, Minnesota’s Credit Unions are stepping up to help members and Minnesotans navigate the financial challenges brought about by the COVID-19 pandemic.
A recent a survey of credit union’s response to COVID-19 shows:
- 95 percent plan to offer loan extensions or deferred payments
- 80 percent offer remote access services, such as video tellers, to assist members or let workers work remotely
- 90 percent plan to raise awareness of scams
Throughout April, Minnesota’s Credit Unions are offering assistance and guidance online and in socially-distanced environments to educate, inform and make sure Minnesotans have the financial tools to navigate current challenges, including:
- Helping those with job impacts understand tools and resources from the state and federal government;
- Anti-fraud and prevention of elder abuse for seniors and families;
- Online tools and curriculum for families and children related to financial education and the economy;
- Financial coaching utilizing video conference, phone and email.
Traditionally Financial Literacy month efforts have been focused on teaching kids about money. As many parents and teachers are looking for online educational resources, credit unions are proud to highlight:
MnCU Jr Financial Education App: Sponsored by the Minnesota Credit Union Foundation, this app teaches simple money concepts through tools for kids to manage their money and financial games for ages 2 to 12. Available in your app store.
Biz Kid$: The overall objective of Biz Kid$ is to engage young people and help them develop life skills in the areas of money management and entrepreneurship. The initiative includes an Emmy award-winning television series, free classroom curriculum, outreach activities, and a website targeting kids 9 – 16 years old. Biz Kid$ is exclusively funded and by sponsored by credit unions.
“Minnesota Credit Unions are committed to meeting the financial needs of our members and serving as a trusted resource for our communities, throughout April and beyond,” said Mark Cummins, President & CEO of the Minnesota Credit Union Network.
Additional resources from financial counselling, accessing assistance, and online financial education tools can be found at www.mncun.org/ConsumerCoronavirusResources