Newsroom
Financial Literacy Month: SECNY community partnerships extend reach
NAFCU is recognizing its member credit unions during April's Financial Literacy Month for their outstanding efforts helping working Americans achieve sustainable financial success. This week, we'll share how SECNY Federal Credit Union uses financial education to build relationships with community organizations and members.
The $237 million SECNY serves the four counties making up the Syracuse, N.Y., metro area. It offers financial education to adults and children, with an emphasis on youth. The credit union is so invested in its young members, it celebrates Youth Month in April and has built specific youth products, explained Director of Education Marketing Aerik Radley. The event includes special giveaways, drawings and bonuses for youth account holders. Branch employees get involved by participating in lobby decorating contests and the credit union provides additional learning activities families can do at home via email.
The credit union really shines in its partnerships with local libraries and community partners that produce in-person and virtual learning seminars. Topics presented virtually so far this year include budgeting for teens, career planning for teens, strategies for investing tax refunds, homebuying, and savings strategies – to name a few.
SECNY partners with Money Mammals, a financial education provider for children, to add value to its youth accounts. Additionally, teachers in the credit union’s field of membership are encouraged to request a free Money Mammals Classroom Kit that provides K-2 financial educational curriculum. Two local high schools also partner with SECNY to host student-run branches, which this year will include student-developed websites and social media playlists featuring financial literacy topics.
The credit union’s Facebook and Instagram accounts actively promote all financial literacy programs and events. SECNY’s social media strategy provides educational posts that funnel followers into new business, rather than static posts that simply promote products and services. For example, ProTip Tuesday posts often include a short two- to five-minute video moderated by Radley that features SECNY specialists giving quick, actionable tips on buying a home, using SECNY’s apps and saving for retirement.
Here’s more from NAFCU’s interview with Radley, in which he further explains SECNY’s financial literacy strategy.
Q: How important is it to get your employees involved in financial literacy efforts? What's the outcome?
A: Here at SECNY we make it a priority. Branch staff are regularly working as a team to not only help identify opportunities in our communities and promote our programs, but also act as the teachers and leaders of financial literacy. When we have staff involved actively in our communities, it builds their credibility and allows members to connect in new ways with our credit union.
Q: How do you determine what partnerships (like offering workshops at libraries) will be most beneficial to your membership?
A: We start every conversation by identifying goals for the community organization we are working with. Whether it’s a new badge for a Girl Scout Troop or a series on saving or home buying, we learn what our partner is trying to accomplish, and we help them reach those financial literacy goals together. It’s extremely rare for our team to not be able to assist our partners in reaching their goals. We thrive on our ability to be flexible, customizable, and reliable for our communities.
Q: What benefits do you see from teaching children about smart financial decisions and making it a fun activity for families to do together?
A: At its core, the primary benefit is group learning. Our workshops invite group discussions, activity and teach critical thinking and application when it comes to finance and money management. So, whether it’s a classroom of second graders or families gathered at the local library, we are engaging in such a way that we are learning from each other, and together, to develop healthy practices as a community. Having the whole family involved is truly a gift because you can engage parents who are primed to offer real-life examples for their children within their lifestyle. Let’s be honest, parents always learn something new, too, which is the best part. We are bringing value to learning about money. If more people in our community value learning about money specifically, we can help build a community that will be prepared for every stage of life.
Q: What advice do you have for other credit unions looking to engage children and young adults in their financial literacy programs?
A: Build it into your strategic plans! We have a strong philosophy here at SECNY that if we teach about it, our products and services should allow members to practice what they’ve learned. Our youth and young adult programs are some of the best in the country because of our team’s dedication to accessibility and integration with financial literacy. Also, don’t stop after a certain age. Build progressively with your programming and products. It is very much worth it, for the credit union and the community.
Share This
Related Resources
Add to Calendar 2024-05-16 14:00:00 2024-05-16 14:00:00 Spotting and Reporting Elder Financial Exploitation Elder financial abuse cases can often be difficult to investigate. Join us in learning more about the evolving red flags associated with this crime as well as the current regulatory landscape. In this webinar, Spotting and Reporting Elder Financial Exploitation, you’ll discover useful insights into performing an elder abuse investigation as well as reporting requirements. At the end, you and your team will feel confident in handling financial exploitation cases. Key Takeaways Identify changing red flags for financial exploitation Locate important resources for your investigations Draft eye-catching SARs Register Now $295 Members | $395 Nonmembers(Additional $50 for USB)One registration gives your entire team access to the live webinar and on-demand recording until May 16, 2025Go to the Online Training Center to access the webinar after purchase » Who Should Attend NCBSOs NCCOs NCRMs BSA, compliance and risk titles Education Credits NCRMs will receive 1.0 CEUs for participating in this webinar NCCOs will receive 1.0 CEUs for participating in this webinar NCBSOs will receive 1.0 CEUs for participating in this webinar Web NAFCU digital@nafcu.org America/New_York public
Spotting and Reporting Elder Financial Exploitation
Credits: NCCO, NCBSO, NCRM
Webinar
Add to Calendar 2024-05-14 14:00:00 2024-05-14 14:00:00 Navigating Fair Lending Compliance: Laws, Best Practices, and Regulatory Guidance Join our impactful webinar, Navigating Fair Lending Compliance: Laws, Best Practices, and Regulatory Guidance. This session is designed to enhance your understanding of federal fair lending and related laws, focusing on their interplay and including key statutes such as the Equal Credit Opportunity Act, the Home Mortgage Disclosure Act, and the Fair Credit Reporting Act. You’ll also delve into practical guidance and best practices to ensure your institution adheres to regulatory expectations and offers products and services in a fair and non-discriminatory manner. Key Takeaways Understand and identify various forms of discrimination in lending practices Review and interpret guidance from regulators to improve compliance strategies Get up to speed with the latest updates, including the new Regulation B rule on small business lending Register Now $295 Members | $395 Nonmembers(Additional $50 for USB)One registration gives your entire team access to the live webinar and on-demand recording until May 14, 2025Go to the Online Training Center to access the webinar after purchase » Who Should Attend NCCOs NCRMs Compliance and risk titles Education Credits NCRMs will recieve 1.0 CEUs for participating in this webinar NCCOs will recieve 1.0 CEUs for participating in this webinar Web NAFCU digital@nafcu.org America/New_York public
Navigating Fair Lending Compliance: Laws, Best Practices, and Regulatory Guidance
Credits: NCCO, NCBSO, NCRM, NCVE
Webinar
Add to Calendar 2024-05-13 09:00:00 2024-05-13 09:00:00 Covering Your Assets- The Bottom Line on Tracking and Collateral Protection Listen On: Key Takeaways: [04:23] Having access to policy and claim information is vitally important so you can mitigate your risks in that area. [06:39] Members are shopping and changing their insurance more than ever before. 41% of households with car insurance shopped for coverage at least once in the last 12 months. [10:05] One of the leading indicators of a default or a repossession situation is the dropping of insurance. [12:49] The most important thing from a tracking and risk management perspective is to make sure that the borrower lists the credit union as a lienholder. Web NAFCU digital@nafcu.org America/New_York public
Covering Your Assets- The Bottom Line on Tracking and Collateral Protection
Strategy & Growth, Consumer Lending
preferred partner
Allied Solutions
Podcast
Add to Calendar 2024-05-07 14:00:00 2024-05-07 14:00:00 BSA Training for the Board of Directors This webinar, BSA Training for the Board of Directors provides vital training with a comprehensive overview of the Bank Secrecy Act (BSA), anti-money laundering (AML) and combatting the financing of terrorism (CFT) compliance requirements. You’ll explore the ramifications of non-compliance and gain insights into the expectations and requirements set forth by the National Credit Union Administration (NCUA). This includes discovering how board engagement plays a pivotal role in fostering a robust BSA/AML compliance program within your credit union. Don’t miss this opportunity to equip your board with the knowledge and insights needed to navigate the regulatory landscape effectively. Key Takeaways Identify BSA/AML compliance requirements Review board member duties as it relates to BSA/AML compliance Examine current regulatory actions that may impact your credit union Register Now $295 Members | $395 Nonmembers(Additional $50 for USB)One registration gives your entire team access to the live webinar and on-demand recording until May 2, 2025Go to the Online Training Center to access the webinar after purchase » Who Should Attend Board members Board chairs and vice chairs Supervisory committee members Presidents/CEOs Executive assistants Education Credits NCRMs will recieve 1.0 CEUs for participating in this webinar NCCOs will recieve 1.0 CEUs for participating in this webinar NCBSOs will recieve 1.0 CEUs for participating in this webinar NCVEs will recieve 1.0 CEUs for participating in this webinar Web NAFCU digital@nafcu.org America/New_York public
BSA Training for the Board of Directors
Credits: NCCO, NCBSO, NCRM, NCVE
Webinar
Get daily updates.
Subscribe to NAFCU today.