Did you know April is Financial Capability Month? Proclaimed in 2015 by President Barack Obama, National Financial Capability Month was created to renew our efforts to support the informed financial decisions that will open doors into the middle class and help ensure economic security for all.
As stated in the Presidential Proclamation, “Critical decisions — from financing higher education to saving for retirement — can have lasting consequences for individuals and for our country’s economy. Financial literacy enables people of all ages to make smart choices and set goals to protect their hard-earned income. And increasing individuals’ understanding of debt, including mortgages and credit cards, helps guarantee every person receives equal treatment and is able to secure lasting opportunity. By strengthening the financial capability of all Americans, we are investing in the fundamental promise of a brighter future and building a more prosperous Nation.”
Does this not sound an awful lot like the mission of credit unions? To strengthen the financial capability of Americans, helping people make smart financial goals and decisions to improve their lives? I think so!
In order to make April a successful month focusing on financial capability, we have gathered some great resources for your organization to use:
- USA.gov has some great resources you can share with your members around financial capability, such as budgeting worksheets, managing your money tips and more. They also have resources broken down by user, such as children, teachers, older adults and military. Click here to learn more!
- The CFPB shares many consumer resources that focus on debt collection, credit reporting and mortgages. Click here to see a variety of resources on this topic and more.
- CFED has BUILDING FINANCIAL CAPABILITY – A Planning Guide for Integrated Services to help organizations that serve low to moderate income communities to help them assist people in building financial capability. Click here to view the guide.
- The Credit Union Network for Financial Literacy (CUNFL) is the distributor of The Berenstain Bears’ Trouble with Money credit union edition. This is a great resource for your younger members to learn about credit unions with the lovable and well known Berenstain Bears! Click here to learn more.
- Last year, Foundation Executive Director Gigi Hyland wrote an article titled, “Why Every Month Should be Financial Capability Month” that has some great statistics, insights, and ways for your credit union to move the needle on member financial well-being.
Hopefully these resources will be helpful to your credit union organizations as you help your members to focus on their financial capability in April.
If your organization or one you know has some additional resources worth sharing, please let us know in the comments!
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