Financial Education for Credit Unions: A Win-Win Strategy

Credit unions are often faced with the challenge of competing against their bank counterparts for members’ financial business. There is a way that credit unions can help drive more business to their doors and help their members at the same time: by providing unbiased financial education.

 

By Alabama Rural Electric Credit Union

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Credit unions are often faced with the challenge of competing against their bank counterparts for members’ financial business. With typically fewer dollars to spend and resources to allocate, this can be a seemingly insurmountable feat. There is a way that credit unions can help drive more business to their doors and help their members at the same time: by providing unbiased financial education for your members. Financial Finesse (www.financialfinesse.com) was founded in 1999 with the sole mission of providing unbiased financial education to organizations' employees, members and customers. Financial Finesse has established a national reputation for excellence based on a high-level of experience and expertise developing educational products in a relatable and informative format.

Why financial education?

Help become your members Primary Financial Institution (PFI)
Personal finance is a confusing and overwhelming topic for most Americans. Giving members tools to educate themselves from an unbiased source can have a deep impact on your bottom line. It can reduce member inertia and take the fear out of obtaining a loan, purchasing a home and opening a credit card – or executing virtually any financial transaction. By educating your members, you will gain their loyalty and trust; critical milestones to becoming their PFI!

A solution for every credit union
Financial Finesse delivers education to credit unions in virtually any format and on any financial topic. Your credit union may want to improve the content on your website or in your offline newsletters with articles on a myriad of financial topics; or, you may want to provide a toll-free helpline to assist with members’ most pressing financial questions. Through our unique “AAA” approach, Financial Finesse will recommend a program tailored for your credit union’s specific needs. From web-based solutions to live products (both in-person and via the telephone), Financial Finesse always delivers the highest quality education that is unbiased and affordable for your credit union.

Differentiate your credit union from banks
By providing educational resources for your members, you can stand apart from the crowd of banks that are eager to woo members away from your institution. Banks notoriously promote their products and services through their version of “education.” By offering third-party financial education, your credit union truly adheres to its mission of providing products and services for the benefit of its members. And, the education can help simplify your products to members, who will in turn be more likely to take action and increase the utilization of your services. With our dynamically generated content, you can be assured that your site will always be fresh and relevant.

Become a trusted resource
Financial Finesse has always adhered to the principle that our education must first and foremost be developed for the benefit of the end-user; in this case, your credit union’s members. In that respect, Financial Finesse and credit unions share a very similar philosophy. Providing education that is designed to merely inform rather than sell will ultimately result in increased member loyalty and measurable growth for your credit union.

Turnkey implementation
Most credit unions simply do not have the budget or resources to develop and implement an effective financial education program. In order to provide such a service to their members, credit unions need to find a resource that is simple and cost-effective. To that end, Financial Finesse has created several programs designed specifically to address your unique challenges. And, our educational programs require minimal resources from your organization to implement and maintain; we have developed a proprietary technology platform that integrates seamlessly into your credit union.

For more information about how Financial Finesse can help your credit union, please contact us at (866) 733-2677, or send an email to sales@financialfinesse.com. We would be happy to discuss your credit union’s needs and goals, and ways that we can help.

 

Dec. 30, 2002


Comments

 
 
 
  • I found this extremely interesting since our organization just reviewed it's vision and mission statements and updated them to include financial education as one of its top priorities. We were very concerned that it would be a win-win-win situation -- the member would win -- the employee would win-- and as a result, the credit union would win.
    Anonymous
     
     
     
 
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