Strengthening military youth’s financial literacy
As another PCS (Permanent Change of Station) season closes, many military families across the country have relocated to a new assigned installation. This transition period will require adapting and financial planning as well as resources and resiliency. During this time, credit unions are presented with a crucial opportunity to step forward and make a lasting impact on the lives of this important segment of their membership and local communities.
It’s no surprise that military families face unique challenges and experiences as part of military life, such as frequent moves or navigating deployments and responsibilities while far from home. Amidst these challenges, ensuring financial stability and literacy for the entire family, including military children entering new schools, is paramount.
Many of us can attest that early financial education significantly influences lifelong financial behaviors and habits. Empowering young military families and their children with essential skills and education prepares them for a successful financial future while also strengthening the financial health of our communities as a whole.
Credit unions have long stood apart from other financial institutions because of their commitment to their local communities’ financial well-being and their member-centric focus on serving as not-for-profit financial cooperatives. Because of this difference, credit unions are uniquely positioned to partner with local schools and universities in enhancing financial literacy programs and available resources.
When collaborating with schools near military installations, credit unions can provide these important communities with workshops, personalized training, and educational materials tailored to their specific needs accompanying their military lifestyle.
This collaboration could look like a credit union-sponsored financial literacy workshop at a local school, where children, including those new to the school from a recent PCS move, learn about budgeting, saving, and making informed financial decisions. Initiatives like this not only equip young military youth with practical skills but also foster a sense of financial confidence and stability.
By investing in offering these financial programs to military youth, credit unions are fulfilling their mission to empower their members’ financial prosperity while strengthening their ties to the local community. This not only benefits military families but also contributes to the overall economic resilience of the communities where credit unions operate.
This is why the Defense Credit Union Council (DCUC) is often so vocal about what it means to be a part of the defense credit union movement. DCUC recognizes how many credit unions are actively looking for ways to grow their outreach and connection with this important segment of our population. A defense credit union doesn’t only translate to a credit union serving on or near an installation; it’s any credit union eager and dedicated to providing our military, veterans, and their families with the best financial services and products.
Knowing the credit union movement has long stood apart from the rest of the financial industry because of its ethos of “people helping people,” learning how to speak military only grows the credit union movement and strengthens our shared impact as an industry. If your credit union is looking for ways to grow its ability to speak military, please don’t hesitate to reach out to us here at DCUC!
As we move closer to August and the start of a new school year, let us recognize the vital role credit unions can have in supporting military families and our youth. By expanding their reach with financial literacy initiatives, credit unions can grow their impact on the financial well-being of these important communities. When prioritizing financial education and leveraging their community-focused ethos, credit unions will also continue to show just how committed they are to ensuring a brighter financial future by serving those who serve our country.
