MADISON, Wis. – CUNA Mutual Group is joining the National Credit Union Foundation in an effort to help connect credit unions with Generation Z in 2016. The two are launching a national tour of 20 experiential learning fairs to provide financial literacy and money management skills for teens who, studies show, may be out of touch with the realities of paying for college. The events will be hosted in credit unions and league facilities across the country. Dates and locations will be released later this year.The company is donating $10,000 to the Foundation to fund these 2016 events, supporting roughly 2,000 –5,000 teens throughout the year with training, advice and perspective to help them prepare stronger financial futures for themselves. The gift is the result of the 2015 social giving campaign celebrating credit unions and championing the community support they provide during the holidays.
During the campaign, the company pledged to contribute each time someone shared a holiday giving photo or video tagged with #CUGiveBack before the end of 2015. By New Year’s Eve last year, credit unions and social media enthusiasts had posted hundreds of images and videos via Twitter, Facebook and Instagram.
“We were inspired by all of the ways people give back to their local communities across the credit union movement,” said Robert Trunzo, president and chief executive officer, CUNA Mutual Group. “These fairs will make a difference. Teens will learn vital financial skills as they prepare for college and for life beyond it. At the same time, credit unions will benefit by making important new connections with young people.”
According to The New York Times, Generation Z includes Americans aged 5-to-19 years old today, which amounts to 60 million people and outnumbers Millennials by a million.1
Each fair is a hands-on experience where students are asked to identify their career and starting salaries, and then prepare budget sheets that require them to live within their monthly salaries while paying for basics like housing, utilities, transportation, clothing, food and other expenses. Throughout the fair, they face temptations for additional spending and learn to balance wants and needs. After the drill, the students work with a financial counselor to review their budgets and discuss the importance of living within their financial means.
For more information on the fairs, click here.
About CUNA Mutual Group
CUNA Mutual Group helps people plan, protect and invest for their future – regardless of their financial standing. The company was founded more than 80 years ago by credit union leaders who were looking for an insurance and investment partner they could trust. Today, CUNA Mutual Group helps credit unions and hardworking Americans build financial security through commercial and personal insurance products; lending and payment security solutions; and risk management, retirement, investment and marketing services. Additional information about the company can be found at www.cunamutual.com.
CUNA Mutual Group is the marketing name for CUNA Mutual Holding Company, a mutual insurance holding company, its subsidiaries and affiliates. Life, accident, health and annuity insurance products are issued by CMFG Life Insurance Company. Property and casualty insurance products are issued by CUMIS Insurance Society, Inc. Each insurer is solely responsible for the financial obligations under the policies and contracts it issues. Corporate headquarters are located in Madison, Wis.
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1New York Times. “Move Over Millennials. Here Comes Generation Z.” Sept. 18, 2015.
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