Foolproof Adds 3 CUs to High-End Fin Lit Package
Foolproof, the Florida-based consumer advocacy initiative adopted by state leagues, said Thursday it has signed three more large credit unions to its high-end financial literacy package used by schools and in adult education.
At the same time, Foolproof, which got its start three years ago in partnership with the Credit Union Association of Colorado/Wyoming, said it is raising licensing fees on its "Highly Custom" product suite from $75,000 to $95,000 reflecting higher creative expenses for the custom videos and literacy materials.
The three CUs taking on the "Highly Custom" packages include the $797 million APGFCU and the $1.9 billion-dollar State Employees CU, both of Baltimore, and the $1 billion FCU in Virginia.
Touting the success so far of the Foolproof program and the CU's willingness to expand, Tina Mike, assistant vice president of APGFCU, said the branding service and custom website designs offered by FoolProof made it economical for the CU to upgrade to the high-end customer offering. "We've seen excellent results come back for us from schools and adult education centers where the lessons are taught," she said.
APG has been one of Foolproof's early signers, retaining the basic service for two years and agreeing in November to pay a higher fee.
In opting for higher fees, Bayport FCU said the Foolproof system allowed inclusion of more literacy material in multiple formats "without adversely impacting our current staffing workload." Monte Crowl, vice president-marketing, said the CU could not "cost-effectively duplicate such services in-house."
Will deHoo, FoolProof's 30-year-old founder and CEO, said the addition of the three CUs in the past two months brings total user count on the high school curriculum to 22,000 in 48 states. The Foolproof consumer programs for adults and young people, he noted, have now been featured in more than 30 newspapers in the past 90 days.