MADISON, Wis. (11/14/14)--During Thursday's Twitter chat, the National Credit Union Foundation gave credit unions a forum to share their strategies and successes for financial literacy education.
For one credit union, helping a young person open up his or her "adult" account is a measure of success, while others track account openings and savings behavior of students.
"It's one thing to say you opened a bunch of accounts, but that's your success," tweeted $2.2 billion-asset Coastal FCU, Raleigh, N.C. "Measure theirs."
Teaming up with other credit unions, select employee groups, local nonprofits and other organizations to provide financial education shows that credit unions are embedded in the community, and not just a source of money, the League of Southeastern Credit Unions noted.
Many participants said experiential learning such as taking part in reality fairs or running school-based branches is an effective way to ingrain financial capability.