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News Now

CU System
NCUFs national financial capability report now online
MADISON, Wis. and WASHINGTON (12/14/12)--The National Credit Union Foundation (NCUF) has made available a free financial capability report and a resource guide online. 

NCUF believes that credit unions do outstanding work around building the financial capability of American families, but that they don't do a great job of telling that story. For that reason, NCUF compiled a financial capability report that outlines the financial education and capability building efforts by the U.S. credit union system, said Lois Kitsch, NCUF national program manager.

The report includes an executive summary, 12 credit union system case studies, key findings and one page from every state sharing its financial education efforts. The report, along with a companion resource guide, is available for free download from the REAL Solutions Impact Center. The site also includes a one-sheet success story from each state. 

The report, "Credit Unions: Focused on Financial Capability Across the Nation," is the result of an almost year-long data collection effort by NCUF and state credit union leagues.

NCUF and REAL Solutions conducted the national study of credit-union-provided member and consumer financial education and counseling. The data will be useful to state leagues/associations and the broader credit union industry because it quantifies the extent to which credit unions are providing opportunities for members/consumers to advance their financial knowledge and decision-making skills, said NCUF.

The report describes 10 financial education/counseling interventions offered to members/consumers by credit unions. It provides cumulative data about member use of and access to credit-union provided financial education/counseling products, tools and courses, and it reveals probable keys to program success. National data are supplemented by case studies of credit unions and state leagues that illustrate each type of educational intervention.

The accompanying resource guide assists credit unions and others with accessing resources, information and curriculum already created to help them offer even more financial literacy programs. Each method of financial counseling/education provides examples, additional resources and information, and tips to help credit unions expand their current education programs or introduce new ones.

To view the report and resource guide, use the links. 

Early next year, NCUF will begin working on its 2012 report, Kitsch told News Now.
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