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NAFCU's Aguilar shares financial education efforts at WHF event
NAFCU Regulatory Compliance Counsel Jennifer Aguilar today will discuss the importance of financial education at a Women in Housing and Finance event focused on volunteerism.
Aguilar is a volunteer for the WHF Foundation and her work with the foundation has focused on financial education efforts, including financial products and services offered by credit unions to help consumers restore their financial health.
A NAFCU Economic & CU Monitor report last year focused on financial literacy and community outreach revealed that roughly 94 percent of survey respondents' credit unions offer some kind of financial literacy program, with home buying sessions offered by 93 percent of them.
Also noted in the Monitor report is a 2016 Financial Industry Regulatory Authority (FINRA) study that revealed Americans' relatively low level of financial literacy. The Monitor survey found that credit unions' educational programs offer traditional financial management topics, and are also becoming more forward-looking and innovative.
The Monitor survey also showed that credit unions are active in their communities, with all respondents indicating that their institution, board or staff volunteers at and donates to local nonprofits. Respondents indicated that their credit union has relationships with, on average, 70 local community organizations each.
NAFCU will continue to showcase the close relationship credit unions, as community-based financial institutions, have with their members and how they are uniquely situated to meet their members' financial needs.