Can you believe we are over halfway through National Financial Capability Month? The Foundation’s mission is to improve people’s financial lives through credit unions, and we celebrate this month by empowering credit unions with the knowledge and tools to do just that. Financial well-being is THE thing credit unions do and we’re proud to be working on this initiative in different ways to reach as many people as possible!
Later this week, our virtual CU FinHealth™ Conference begins with three days of sessions filled with industry leaders and experts who will discuss how credit unions are measuring financial well-being and provide insights on how to improve and document it. Session topics include financial well-being during a pandemic, the connection between health and wealth, how to put finhealth & well-being for all at the heart of your strategy and payments implications in building a finhealth and well-being ecosystem.
By the end of the conference, attendees will be armed with at least three ideas to take back to their credit unions and put into practice to improve financial well-being for their members, colleagues and communities.
Earlier this year at CUNA GAC, Foundation Executive Director Gigi Hyland announced the Foundation’s “all-in” approach to financial well-being for all. Financial well-being for all has a three-step approach for credit unions to take when working towards this goal:
- Measure: Know Your People. In order to help your employees and members, you need to first understand them and their needs. Learn how to measure here.
- Take Action: Build Your Strategy. The Foundation has concrete examples from credit unions available that will help you integrate this mission into the fabric of your credit union. See examples here.
- Connect: Financial Well-Being & Your Community. Once your strategy is built, learn more about how to enhance and connect your work to the development issues, fintech, and more. Get started here.
To help your credit union get started, visit the financial well-being for all section of our website here. There are resources available for you to share with your credit union, including presentation slides, a video to share with your colleagues to explain financial well-being for all and more! This is table stakes for the financial services industry and it will take all of us working together to achieve it.