Building Financial Independence for Gen Z and Beyond

July is heavily focused on independence in the U.S. We celebrate with fireworks, get-togethers, delicious, iconic foods and parades with decorative floats. This is also usually paired with a break from school, when kids throw their books aside and get lost in the fun, long summer days and nights. 

We’re willing to bet that most kids aren’t thinking about their financial independence at all during their summer break – which they will likely no longer have when they have to actually be financially independent. But can your younger members learn from planning, saving and budgeting for all the summer fun their families have on break?  

Some say that financial education starts at home and that experience is the best teacher. According to a recent article shared by CNBC, only 15% of parents said they spoke with their children more than once a week about household finances, 13% said once a week and 16% said once a month, furthermore, 24% talk to their children less often and 31% never do.

In this lackluster financial discussion, we turn to our education systems to fill that gap. Let’s see how many states require financial education…. Ready for this? Only 8 out of 50 states have a fully implemented state-wide requirement, including Alabama, Mississippi, Missouri, Iowa, North Carolina, Tennessee, Utah and Virginia, where naturally, the level of personal financial education is highest. Our younger members – and their parents! – have a serious need for assistance with youth financial education. 

So how can your credit union help set younger members up for success? How can they gain real-life money experience to apply for their future financial independence? 

Your credit union’s website can be a great tool to grow membership, bridge the gap in financial education, and help younger members become financially independent by offering financial coaching through youth accounts.

Adding youth account options is an essential and simple solution. When you partner with uncommn for your youth programs, your credit union doesn’t have to create content, you’re given the tools to help grow and market the program, and it reduce the average age of your members, too! 

Your team can benefit as well, by eliminating the stress of developing a program or content planning. Let your team focus on your members and feel the confidence you’ve selected a trusted business partner you can trust and who respects your time. 

We offer youth accounts designed to engage your credit union’s youngest members all the way through adolescence. Is your credit union ready to help kids, tweens, and teens fill in the financial blanks about spending and saving and celebrate their journey to financial independence? We’re ready to help make dollars and cents of it with you. 

If you see the value in actively engaging in these programs and would like to work with a team solely focused on removing stress and friction from your lives and your members, fill out the form below and let’s chat!

It's never too late to focus on financial literacy. Fill out the form to see how we can help you support your youngest members.

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