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News Now

CU System
Fin. lit. Many members dont admit they need help
HIGHTSTOWN, N.J. (9/10/12)--Credit union members who are struggling financially often are hesitant to admit their troubles, according to participants in a marketing and business roundtable hosted by the New Jersey Credit Union League Thursday.

The News Jersey Credit Union League Thursday hosted a marketing and business roundtable with a focus on financial literacy. Credit union members who are struggling financially are often hesitant to admit their troubles, roundtable participants said. (Photo provided by the New Jersey Credit Union League)
Marketing and business professionals gathered at the league headquarters and remotely to discuss financial literacy and other training topics (The Daily Exchange Sept. 7).

Financial literacy should be an area of emphasis for credit unions because it serves a vital member need, participants in the roundtable said.

Some credit unions said they offer outreach to community groups and underserved areas. Others worked with students ranging in age from 13 to 17. All said their initiatives focused on member benefit rather than return on investment, although membership growth is measured.

Because members often are hesitant to discuss their financial troubles, private sessions are often effective in educating members through a multiple step process, participants said.


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