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NCUF investor education reaches thousands of Wis. employees
MADISON, Wis. (7/27/11)--The Wisconsin Credit Union League is making a difference statewide with the Investor Education in Your Workplace (IEiYW) program. IEiYW is a free, online financial and investment education program made possible thanks to a grant from the Investor Protection Trust. The league has helped train 14 CFE Certified Financial Educators (CFEd) who worked to enroll up to 3,600 employees across the state to participate in online investor education courses. With additional outreach efforts planned by the CFEds and other IEiYW project partners, they are on track to provide training to 4,000 people by the end of the year. To help fund the initiative, the Wisconsin Credit Union League received additional grant funding this year from the National Credit Union Foundation’s REAL Solutions program. “Our project was designed to deliver quality, unbiased, online investor education to 4,000 consumers in the state of Wisconsin, all at no charge,” said Jim Drogue, league vice president of credit union development. “The benefits of IEiYW are two-fold. The courses not only help credit union employee make wise financial decisions, but also help credit unions educate and serve their members.” The league has worked with The University of Wisconsin, Department of Financial Institutions, Precision Information and the Investor Protection Trust, during all phases of their investor education initiative, which was originally named REAL Progress & Pathways to Prosperity (RP3). Each IEiYW course contains 10 hours of self-paced, unbiased online training on money and investing. The training covers topics such as:
* Investing basics, goals, strategy and choices; * Certificates, money market, mutual funds, stocks and bonds; * Formula investment plans and dollar cost averaging; * Education planning; and * Retirement planning and terminology.
“The focus on member financial education is so great in credit unions across the country that we sometimes take for granted the knowledge of employees,” said Lois Kitsch, National REAL Solutions Program Director at the National Credit Union Foundation. “I hope to see more states taking on programs such as IEiYW so that we not only see more members achieve financial freedom, but credit union staff as well.” The Wisconsin league and IEiYW project partners are currently in discussions with a number of credit union leagues to expand the program in the next year to potentially reach 10,000 to 20,000 people in up to eight states. Those interested in learning more about the possibility of bringing the program to their state, should contact Jim Drogue at, or 1-800-242-0833, ext. 6005.
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