An article in today’s Wall Street Journal, The Smart Way to Teach Children About Money, makes a valid point that higher order financial education is lost without a solid mathematical foundation. Though it may seem obvious, the rush to fill a void in education can often lead to too-much-too-soon.
Any credit union that wishes to venture into youth financial education as a means of serving the community and promoting their organization, would be well served to vet the many programs available. Make sure the program you choose is relevant and has an off the chart stickiness factor. The Berenstain Bears Financial Literacy Program has both, and it conforms to national standards and the JumpStart Coalition’s Financial Literacy standards.
Measure your ROI in $$ and, more importantly, in service to your community. With little marketing during the testing phase (July 2013 – April 2014) of The Berenstain Bears Financial Literacy Program, Franklin Mint Federal Credit Union hosted more than 50 field trips and visited more than 4400 kindergarten through third grade students in two dozen schools. These efforts resulted in 874 new Cub Accounts and 279 new household accounts. More than half of the Cub Account households have at least one checking account, and more than a third have at least one loan product.
Contact us for more information about adding The Berenstain Bears to your financial education and community efforts.