Financial Capability

Financial CounselingMember education is a fundamental value that sets credit unions apart from other financial institutions. Through education, credit unions direct members to products and services that build and grow their savings and assets, reduce their debt and provide pathways for achieving their goals, while mitigating risk to the institution.

Lessons from the financial crisis reinforce the need for consumer financial education as the financial services industry becomes increasingly complex. Yet, the simple delivery of information is often not enough to help consumers make the right choices and maximize their financial potential.

Financial capability shifts emphasis from consumer knowledge of financial information to the actions the consumer takes resulting from increased knowledge that improves their financial condition and well-being. The Federation helps credit unions develop the right strategies and approaches to build the financial capability of members.

Financial Capability Partnership Initiative: This Initiative fosters effective credit union and nonprofit service organization partnerships that facilitate access to safe and affordable credit union products for diverse social and human service clients enabling greater financial stability and independence.

BALANCETM: Federation’s partnership with BALANCETM enables our member CDCUs to access this over-the-phone and internet financial counseling tool for their members, at highly discounted rates. Learn more about joining the Federation.


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