My First Nest Egg, an award-winning digital financial education system for kids, ages 3-13, is thrilled to announce its partnership with Belco Community Credit Union, an 84-year-old institution serving 7 counties in South-Central Pennsylvania. The collaboration aims to provide free resources for Belco Community Credit Union members and the community, promoting youth financial education and empowering children with essential money management skills. My First Nest Egg's co-founders, Nicolle Hood and Annie Shoen, both moms and former attorneys, developed this interactive learning platform in response to the growing concern of youth financial illiteracy.
"It's 2023, and we're in the midst of a financial literacy crisis costing Americans $350 billion a year due to personal finance mismanagement," said My First Nest Egg’s CEO, Nicole Hood. "Without proper financial education programs, our children's financial futures are at risk."
Belco Community Credit Union, known for its innovative services, is eager to join forces with My First Nest Egg. Through this partnership, Belco 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.
“Belco Community Credit Union is excited to provide our young members with the My First Nest Egg program, offering a fun and simple way for parents and families to teach age-appropriate financial education and encourage good money habits," said Belco President & CEO, Amey Sgrignoli. "This program will seamlessly complement our youth accounts, promoting early savings."
"My First Nest Egg's COO, Annie Shoen, emphasized, "Money habits form as early as age seven, yet many kids lack exposure to even basic money concepts during these crucial years, contributing to a financial literacy epidemic that affects mental health in adulthood."
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.
Nicolle Hood added, "Partnering with organizations like Belco Community Credit Union provides an ideal opportunity to promote youth financial education across the U.S. The back-to-school launch with Belco marks a significant step forward in empowering kids with crucial financial skills for a brighter future."