Newsroom

NAFCU is recognizing its member credit unions during April's Financial Literacy Month for their outstanding efforts helping working Americans achieve sustainable financial success. This week, we'll share how SECNY Federal Credit Union uses financial education to build relationships with community organizations and members.

The $237 million SECNY serves the four counties making up the Syracuse, N.Y., metro area. It offers financial education to adults and children, with an emphasis on youth. The credit union is so invested in its young members, it celebrates Youth Month in April and has built specific youth products, explained Director of Education Marketing Aerik Radley. The event includes special giveaways, drawings and bonuses for youth account holders. Branch employees get involved by participating in lobby decorating contests and the credit union provides additional learning activities families can do at home via email.

The credit union really shines in its partnerships with local libraries and community partners that produce in-person and virtual learning seminars. Topics presented virtually so far this year include budgeting for teens, career planning for teens, strategies for investing tax refunds, homebuying, and savings strategies – to name a few.

SECNY partners with Money Mammals, a financial education provider for children, to add value to its youth accounts. Additionally, teachers in the credit union’s field of membership are encouraged to request a free Money Mammals Classroom Kit that provides K-2 financial educational curriculum. Two local high schools also partner with SECNY to host student-run branches, which this year will include student-developed websites and social media playlists featuring financial literacy topics.

The credit union’s Facebook and Instagram accounts actively promote all financial literacy programs and events. SECNY’s social media strategy provides educational posts that funnel followers into new business, rather than static posts that simply promote products and services. For example, ProTip Tuesday posts often include a short two- to five-minute video moderated by Radley that features SECNY specialists giving quick, actionable tips on buying a home, using SECNY’s apps and saving for retirement.

Here’s more from NAFCU’s interview with Radley, in which he further explains SECNY’s financial literacy strategy.

Q: How important is it to get your employees involved in financial literacy efforts? What's the outcome?

A: Here at SECNY we make it a priority. Branch staff are regularly working as a team to not only help identify opportunities in our communities and promote our programs, but also act as the teachers and leaders of financial literacy. When we have staff involved actively in our communities, it builds their credibility and allows members to connect in new ways with our credit union.

Q: How do you determine what partnerships (like offering workshops at libraries) will be most beneficial to your membership?

A: We start every conversation by identifying goals for the community organization we are working with. Whether it’s a new badge for a Girl Scout Troop or a series on saving or home buying, we learn what our partner is trying to accomplish, and we help them reach those financial literacy goals together. It’s extremely rare for our team to not be able to assist our partners in reaching their goals. We thrive on our ability to be flexible, customizable, and reliable for our communities.

Q: What benefits do you see from teaching children about smart financial decisions and making it a fun activity for families to do together?

A: At its core, the primary benefit is group learning. Our workshops invite group discussions, activity and teach critical thinking and application when it comes to finance and money management. So, whether it’s a classroom of second graders or families gathered at the local library, we are engaging in such a way that we are learning from each other, and together, to develop healthy practices as a community. Having the whole family involved is truly a gift because you can engage parents who are primed to offer real-life examples for their children within their lifestyle. Let’s be honest, parents always learn something new, too, which is the best part. We are bringing value to learning about money. If more people in our community value learning about money specifically, we can help build a community that will be prepared for every stage of life.  

Q: What advice do you have for other credit unions looking to engage children and young adults in their financial literacy programs?

A: Build it into your strategic plans! We have a strong philosophy here at SECNY that if we teach about it, our products and services should allow members to practice what they’ve learned. Our youth and young adult programs are some of the best in the country because of our team’s dedication to accessibility and integration with financial literacy. Also, don’t stop after a certain age. Build progressively with your programming and products. It is very much worth it, for the credit union and the community.