Catholic Federal Credit Union in Saginaw, Mich., has created a “financial confessional” to start conversations with members about past financial wrongdoings and get them on the path to attaining financial goals.
The confessional comes complete with a screen between two compartments to give it the feel of a real confessional.
Windows in the front encourage users to take photos to share on social media platforms. The confessional’s sides feature examples of common financial mistakes, such as “I make minimum payments,” “We go out to eat too much,” and “I can’t afford to retire.”
“Confessionals are an important part of the Catholic tradition,” says Bethany Dutcher, vice president of marketing at the $331 million asset credit union.
“When members come to the credit union for help, we truly feel that at times they’re giving a financial confessional of mistakes they have made in their goal to reduce their debt and get their monthly payments manageable,” she says.
Catholic Federal launched the confessional in March and plans to use the mobile structure during the summer event season and in an upcoming social media campaign.
The confessional has already created buzz from members who’ve seen it at branches.
“The staff have used the confessional to spark a conversation about financial goals with members and how the credit union can help,” Dutcher says.