Greensburg, PA (July 11, 2024) |
My First Nest Egg, an award-winning digital financial education system for kids aged 3-13, is thrilled to announce its partnership with Pheple Federal Credit Union, a 73-year-old institution Westmoreland County, Pennsylvania. This collaboration will provide free resources to Pheple Federal Credit Union members and its community, promoting youth financial education both at home and in the classroom.
My First Nest Egg's co-founders, Nicolle Hood and Annie Shoen, both mothers and former attorneys, developed this interactive learning platform in response to the growing concern of youth financial illiteracy.
"We're in the midst of a financial literacy crisis costing Americans $350 billion a year due to personal finance mismanagement," said Annie Shoen. "Without proper financial education programs, our children's financial futures are at risk." Nicolle Hood added, “We saw a problem with our own kids not understanding money, especially in a digital world, and decided to do something about it.”
Pheple Federal Credit Union, known for being an advocate for its members' financial well-being, is eager to join forces with My First Nest Egg. Through this partnership, Pheple will offer a customized co-branded version of the My First Nest Egg app and content, designed to engage their youngest members in learning about earning, saving, and giving back. The offerings include a white-labeled smart piggy bank, an age-appropriate curriculum, a dedicated website, calculators, and more, enhancing their youth programming.
“Our partnership with My First Nest Egg provides new and exciting tools for families to help educate the next generation,” said Pheple’s CEO Maria LaVelle. “The app will help keep our young members engaged, bridging the gap between traditional financial education and new technology. With over 1,600 youth members in the elementary to middle school age group, we look forward to deepening their financial literacy, creating and building good money habits, and getting families involved in the process."
Research shows that 64% of adults identify money as a significant source of stress in their lives. Recognizing that money management is more about mindset than just math, My First Nest Egg aims to instill healthy financial habits in childhood, leading to improved financial outcomes and reduced financial stress in adulthood.