7 ways credit unions are helping members build financial literacy
Financial literacy is one of the most cited priorities in the credit union movement—but what does it actually look like in practice? For some credit unions, it means one-on-one coaching and certified counselors. For others, it means showing up in schools, prisons, and workforce training programs to meet people where they are, often long before they become members.
The examples below are drawn from credit unions across the country. Together, they show the remarkable breadth of ways the movement is putting "people helping people" into action.
1. One-on-one financial coaching backed by certified counselors
The most direct form of financial literacy support is also one of the most impactful: a trained counselor sitting with a member, working through their specific situation, and helping them build a plan that actually sticks.
Ent Credit Union in Colorado has built one of the most documented examples of this model. The credit union has certified 140 employees as Certified Credit Union Financial Counselors through America's Credit Unions' FiCEP program, with about 95 currently active in coaching roles across 60 branch locations and its virtual platform. Coaches work with members one-on-one on budgeting, debt management, credit building, and savings—and the results are measurable. In just the first half of 2025, the program helped members eliminate more than $700,000 in debt. Notably, 85% of coaching referrals come from everyday staff interactions, not formal campaigns. That means financial literacy support is woven into every member touchpoint, not siloed in a single department.
2. Hands-on youth financial literacy programs and fairs
Getting to young people early—before financial habits are set—is one of the highest-leverage investments a credit union can make. The Maine Credit Union League has developed a model that turns financial education into an experience rather than a lecture.
The League's Financial Fitness Fairs immerse school-age students in real-life budgeting by assigning them jobs and entry-level incomes, then having them visit booths representing everyday spending categories like transportation, meals, and entertainment. The exercise makes abstract concepts concrete and immediate. Beyond the fairs, the League promotes financial literacy inside credit union branches through youth accounts and "money bucks" incentive systems that reward smart saving and spending. The League saw a 12% increase in credit union membership for those under the age of 18 in 2016—a signal that engaging young people in meaningful financial education builds relationships that last.
3. Student loan programs that build financial literacy through repayment
Manchester Municipal Federal Credit Union in Connecticut found a way to turn the student loan process itself into a financial literacy lesson.
Launched in 2010 to serve municipal employees and first-generation college families, the program takes a fundamentally different approach than federal student lending: it eliminates deferment entirely. Parents make affordable monthly payments while students are in school. When students graduate, the loan transfers to them—creating accountability and teaching responsible repayment from day one. As the credit union's leadership has explained, the difference between deferring and not deferring "ends up being thousands and thousands and thousands of dollars of accrued interest." As students go through the process of acquiring and repaying the loan, they gain financial literacy skills that prove essential as they leave school. The program now holds approximately $3 million in student loans—and after 14 years, it has achieved zero delinquencies and zero charge-offs.
4. Crisis-moment counseling paired with flexible financial relief
Some of the most powerful financial literacy moments happen not in classrooms but in crisis—when a member needs help now, and the credit union shows up with both counseling and a practical solution.
When the federal government shutdown left thousands of federal employees without paychecks, Members 1st Federal Credit Union responded by offering free one-on-one financial counseling through its partner GreenPath. SVP Erin Hermany explained that the credit union builds flexibility into its programs because no two members' situations are the same—some need a payment skip, others a deferred personal loan, and many benefit most from the counseling itself. Meeting members in moments of financial stress, with both emotional support and concrete tools, is one of the most effective ways to make financial literacy stick.
5. Second-chance auto loans with built-in financial coaching
For members who have been turned away by mainstream lenders, a credit union's willingness to say yes—on responsible terms—can be the beginning of a financial turnaround. Credit unions across the country have developed second-chance auto loan programs specifically designed for members with credit scores below 640 or no credit history.
What separates these programs from standard loan approvals is the structure that supports them. Rather than relying on automated score thresholds, loan officers review why a score is low, consider rent and utility payment histories, and right-size the payment to what the member can actually sustain. Built-in safeguards include loan caps, vehicle history reports, required insurance coverage, and mandatory financial counseling on budgeting and payment management. Several programs—including those at Valley Oak Credit Union and WyHy Federal Credit Union—offer interest rate reductions of up to 1% over the loan term to incentivize on-time payments. The result is a product that teaches financial responsibility while extending it.
6. Financial literacy inside correctional facilities
Credit unions are increasingly recognizing that financial literacy must reach people before they re-enter the workforce and the financial system—including those who are currently incarcerated.
Penn East Credit Union partnered with the CrossState Credit Union Association and the IGNITE (Inmate Growth Naturally and Intentionally Through Education) program to bring financial literacy training directly into the Wayne County Correction Facility in Pennsylvania. Volunteer sessions cover credit scores, credit recovery, second-chance checking accounts, and navigating financial life after bankruptcy—tailored to participants' varying levels of financial experience. The program reflects a growing understanding that financial instability is one of the leading contributors to recidivism and that equipping people with financial knowledge before release gives them a fighting chance at a fresh start.
7. Workforce development partnerships that pair job training with financial skills
UW Credit Union in Madison, Wisconsin, has spent more than a decade demonstrating what it looks like when a credit union invests in the financial futures of young people who aren't yet members—and may not be for years.
Through its partnership with Operation Fresh Start's CareerPoint program, UW Credit Union provides financial literacy training, mentorship, and direct employment opportunities to young adults ages 18 to 24 who did not complete a traditional high school education. The credit union's involvement goes well beyond writing a check: staff provide expert speakers on financial literacy topics, consult on curriculum development, conduct mock interviews, offer career tours, and hire program participants directly into entry-level positions. The partnership, which spans approximately 10 years, has been recognized with the Community Collaboration Award at Operation Fresh Start's 2024 Building Transformational Relationships Gala. "UW Credit Union sees the value of the young people that we serve—not just as young people of Operation Fresh Start, but as community members," said Operation Fresh Start's executive director. "These young people live in our community, and so really everybody should see the value in them."
The credit union difference
What ties these examples together is not a single program model or delivery channel. It is a shared conviction that financial literacy is not a transaction—it is a relationship. Credit unions are uniquely positioned to offer this kind of sustained, personal, mission-driven support because their structure demands it. They are accountable to members, not shareholders. These examples show what's possible when trained counselors, committed leadership, and creative community partnerships come together.
If your credit union is ready to deepen its financial wellness impact, start by getting your team FiCEP-certified.
