Financial Literacy Resources
Financial Literacy Resources
The CrossState Credit Union Foundation provides guidance and funding to credit unions and their partnering nonprofit organizations working to educate and improve the financial literacy skills of consumers of all ages.
In addition to these resources, the Foundation provides grant funding for initiatives such as in-school materials and programs, community and workplace programs, development of student-run branches, savings days and Financial Reality Fairs.
Before applying, please review the Financial Literacy Grant Application. If you need assistance or have questions about your application, please contact the Foundations’ office at 800-932-0661 x 2213.
Donate to Foundation
Leaders in Financial Literacy
Learn about the winning projects of the Foundation’s Leaders in Financial Literacy Award Winners
ABCO FCU — “Virtual Homebuyer Seminars & Financial Topics”
AmeriChoice FCU — “AmeriChoice Friday Night Rivals Football Financial Literacy”
Credit Union of New Jersey — “Virtual Financial Education Program”
Lanco FCU — “ReSet Redirecting Students to Excel and Thrive”
Belco Community Credit Union — “Team Belco Believes”
Members 1st of New Jersey FCU — “Budget Seminars”
PHEPLE FCU — “Path to Financial Literacy”
Pinpoint FCU — “The Credit Medic”
AmeriChoice FCU — “Financial Literacy for the Underbanked”
Belco Community Credit Union — “Believe in Community”
Members 1st FCU — “Members 1st FCU and Milton Hershey School: 2018 Educational Initiative”
TruMark Financial Credit Union — “Financial Jeopardy”
NET Credit Union — “Student Loan Seminars”
North East Welch FCU — “Community Financial Literacy”
TruMark Financial Credit Union — “TruMark Financial @ Work“
CLARIFI — “The Medical-Financial Partnership
Mercer County Community FCU — “Mercer County Community FCU Teaches Real-Life Financial Lessons to High School Students”
NET Credit Union — “The Credit Score Program”
Members 1st FCU — “Adult Education: Lunch and Learn Program”
Family Services of Western Pennsylvania — “Ways to Work Transportation Loan & Financial Literacy Program”
PA Assistive Technology Foundation — “Cents & $ensibility: A Guide to Money Management”
PHEPLE FCU (formerly Westmoreland Community FCU) — “Partners in Learning Program”
PSECU — “WalletWorks: Expanding Financial Education Beyond the Classroom”
JumpStart is one of the best clearinghouses for financial literacy available at present. Since CrossState Credit Union Association is a member of JumpStart, credit unions are welcomed to visit its website at www.jumpstart.org for appropriate information.
NEFE (National Endowment of Financial Education)
NEFE provides a free teacher’s guide and student curriculum available for high school financial education. Materials will no longer be available in 2021.
Junior Achievement USA
Junior Achievement is providing free online resources to teachers and parents during this period of the COVID virus. They are doing this so our kids can spend more time planning for and dreaming about tomorrow, and less time worrying about today. We are committed to doing this until we can all be certain again.
The Berenstain Bears Financial Literacy Program
The Berenstain Bears Financial Literacy Program is a youth education and marketing suite developed exclusively for credit unions in response to the documented need to introduce financial education to young learners. Children are exposed to age-appropriate money management concepts through hands-on activities as they learn the many benefits of credit union membership. The program resonates with generations of adults who grew up with The Berenstain Bears and trust them.
Financial Literacy Tools
Financial literacy tools are available from a variety of sources. Here are just a few for your reference:
Empowering Youth to Save
Young people can get valuable information about starting good personal finance habits and building long-term wealth.
Download “Empowering Youth to Save,” an infographic produced by the NCUA.
Consumer Financial Protection Bureau (CFPB)
In a series of focus groups, the Consumer Financial Protection Bureau (CFPB) found that the primary money wish parents have for their children is for them to learn to save and spend wisely. Almost 90% of the parents agreed that information and guidance from family members is the most common way children learn these skills.
To support parents and caregivers in this important task, CFPB offers the Money as You Grow book club. The Money as You Grow book club is a family financial education program that uses children’s books to help families learn key money concepts through reading, play, and quiet one-on-one talks. Many parents and caregivers are eager to build a good financial literacy foundation for their kids, but might not feel they have enough time, tools, and confidence. Fortunately, many of the building blocks for financial well-being – like patience, planning, and problem-solving – don’t require a lot of financial know-how.
Here’s how to get started:
- Download the CFPB Implementation Guide, a step-by-step guide for facilitators who want to start a Money As You Grow Book Club.
- Locate books from the Money As You Grow Reading Listat your library, featured books that encourage interest in money and provide age-appropriate money concepts.
Order free copies of the Money as You Grow Parent Reading Guides, booklets that go with each book on the list, containing summaries, activities, and tips to support family money conversations. Allow 3-4 weeks for delivery.
The CFPB is also offering the “Your Money, Your Goals” toolkit, companion guides and booklets. The toolkit has information to help you talk about money with those you serve.
Biz Kid$ – Helping Kids Make and Manage Money
Biz Kid$ is a financial literacy initiative, launched nationally in January 2008, that teaches kids about money and business. The initiative includes a TV series, free classroom curriculum, outreach activities, a website and a monthly on-line newsletter targeting children 9 – 16 years old. It is the first national public television series promoting financial education for elementary and middle school students. The National Credit Union Foundation is responsible for fundraising, outreach and administrative responsibilities for Biz Kid$. The Foundation’s involvement solidifies the commitment that America’s credit unions have to educating our youth in the skills necessary to be financially literate. Click here for more information about Biz Kid$.
Testing Financial Health
Challenge your employees and members to test their financial health. They can use one of these resources to do so:
- Use the NerdWallet calculator
- Use the CFPB’s questionnaire
- FYI: Click here for more info on the questionnaire and scoring
- Pigly is an interesting website where consumers can use a multitude of calculators to help with making financial decisions.
- Here’s another resource on eight ways to think about and measure financial health
- Take a look at some of these other links to see what other credit unions are doing:
- A great infographic to show the business costs of employees who are financially stressed
- What is the business case for financial health? Here’s a little blog post to answer that exact question!
- Philadelphia Federal Reserve Bank – The Federal Reserve Bank of Philadelphia website contains free information and lesson plans to teach economics and personal finance. All lessons are downloadable in PDF format.
- Hispanic Resources
- Visit the Young Americans Center for Financial Education for information and statistics.
- FoolProof National teaches life skills, not just work skills. It is training for young and/or entry-level workers with limited experience in safely navigating the free enterprise system.
- Business, Finance and Economics for Kids teaches how to handle money. It’s a great introduction to business and economics as well. Students can play games and do activities by themselves or with a friend to test their knowledge and teach them about the economy.
- The Value of Compound Interest: Guide & Calculator – https://www.moneygeek.com/compound-interest-calculator/
- How to Budget for the Holidays – https://moneygeek.com/financial-planning/resources/budgeting-for-the-holidays/
- MoneyGeek’s Cost of Living Calculator – https://www.moneygeek.com/mortgage/mortgage-calculator/
Help protect the elderly from financial abuse:
Check out Credit Union Senior Safeguard by Better Values Better Banking.