Since 2004, Financial Literacy Month has been recognized and celebrated across the nation. Over the years, it has been a pivotal time for many, as it encourages people to assess their attitudes towards their finances and take reasonable steps towards financial capability and freedom. As the financial conditions of our world continue to change, the need for people to strengthen their money management skills is stronger than ever before.
Some general financial literacy statistics include:
- 75% of American teens report a lack of confidence in their financial knowledge.
- 25% of Americans say they don’t have a specific person they can ask for trusted financial advice.
- In 2020, 28% of adults reported they only had a financial cushion of one week’s worth of expenses.
- An estimated 23% of U.S. adults aged 18 to 29 have credit card debt that’s overdue by 90 days.
- Roughly 4% of adults shared they fell victim to some type of financial fraud in 2020.
- In 2019, 17% of adults reported anxiety about retirement funds.
At Nusenda Credit Union, we are committed to helping you strengthen your financial well-being. Keep reading for some great resources to help you boost your financial confidence!
Credit Score
In 2022, Nusenda launched our Credit Score tool – a no cost resource that helps you take better control of your credit! When you opt in through Mobile and Internet Banking, you can check your score as often as you like without ever lowering it. You can also view your latest credit report, develop an understanding of key factors that impact your score, compare your current loan interest rates with current Nusenda rates, and more!
Signing up is convenient and easy! Just log in, opt in, and check your score. Learn more here.
Banzai
Banzai is an award-winning, interactive content platform that teaches real-world finance. Used by over 100,000 teachers in over 50% of U.S. schools, Banzai has a wide range of content that covers the fundamentals of personal finance – including saving, spending, borrowing, investing, and more! Students can learn how to navigate financial dilemmas and strengthen their decision-making skills.
Nusenda offers Banzai at no cost to educators and students – go here to learn more.
BALANCE Financial Fitness Program
During challenging economic times, having a trusted financial resource is crucial. Our BALANCE program provides comprehensive financial education and counseling services at no cost to you. BALANCE counselors offer unbiased financial expertise across many areas of personal finance. They also offer monthly webinars on different financial topics. Go here to learn more.
Have questions about instilling financial confidence in your kids? You can attend the April webinar, Raising Money Smart Kids! This session will offer guidance to parents on how to educate children on financial topics, including spending and saving.
Session: Thursday, April 20, 2023 from 6:30 p.m. – 7:30 p.m.
Register here!
We understand that boosting your financial well-being is easier said than done – especially if you have unexpected expenses or big projects coming up. Should you need financial breathing room, Nusenda offers great options to help you meet your goals. Our Personal Loans can help you tackle unexpected repairs, home improvements, or other larger expenses with low interest rates and flexible terms. You can apply online in minutes!
At Nusenda Credit Union, we’re dedicated to improving our members’ financial well-being and supporting them through affordable products, friendly service, community involvement, and financial education. We'd love to find other ways to help you save money. You can reach us at 505-889-7755 (800-347-2838 outside the Albuquerque area) or make an appointment to meet with us at any of our branch locations.