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America Saves Week: Franklin Mint sets children up for financial success
As part of America Saves Week, NAFCU is highlighting the efforts of member credit unions with strong financial education programs that encourage members to save and strengthen their personal finances. Today, see how Franklin Mint Federal Credit Union (Chadds Ford, Pa.) is preparing younger generations to successfully handle finances.
FMFCU supports education and financial literacy through The Berenstain Bears Financial Literacy Program. Developed exclusively by FMFCU in coordination with The Berenstain Bears writers, FMFCU took its commitment to financial literacy nationwide as it established the Credit Union Network for Financial Literacy to allow credit unions around the country to offer the program.
The Berenstain Bears Financial Literacy Program encourages an early introduction into financial literacy by teaching age-appropriate money management concepts and using hands-on learning activities to share the benefits of credit union membership and good financial decision making with children aged 5-12.
FMFCU in 2013 established Bear Country Credit Union and provides financial assistance for school field trips to the financial literacy center; thousands of students visit every year. In addition, FMFCU certified educators visit schools to help teachers educate students on the "Save, Share, Spend, Earn" concept. After completing the lesson, students visit FMFCU and Bear Country Credit Union – a 1,100 square foot interactive financial literacy center – to learn more with a hands-on experience about credit unions and money management.
FMFCU Foundation also helped bring writer Mike Berenstain to a local elementary school to unveil and read a new book – "The Berenstain Bears Visit the Credit Union" – in 2015.
In addition to The Berenstain Bears Financial Literacy Program, FMFCU offers several other outreach programs, awards, and grants to support members and its community. Learn more here.
NAFCU has pledged to promote financial literacy and ensure credit unions' members can reach their financial goals by working closely with credit unions, lawmakers and regulators. See NAFCU's resources. Many credit unions offer services to help members reach their financial goals (see how Summit Credit Union is also promoting financial literacy); NCUA has resources available to both credit unions and members and the CFPB has additional consumer financial literacy resources available.
The America Saves Week program features a specific theme each day that aims to drive social conversations and public awareness. Today's theme is "Save for the Unexpected"; engage in the conversation with #Save4TheUnexpected and #ASW2020.