A program designed to educate credit union employees about their long-term savings and investment options will be expanded to include the nonprofit, education and health care sectors as well as active duty military personnel based in Oklahoma.
The Investor Education in Your Workplace program encourages employees to participate more fully in workplace saving and investing programs. The online curriculum includes such courses as basics of personal finance, understanding investment risks, working with financial advisers, retirement planning, and retirement plan options.
The IEiYW was initially piloted with credit union employees and educators in Wisconsin, Pennsylvania and North Carolina. Nearly 8,500 employees in hundreds of workplaces in the three states completed the program over the past several years, according to officials.
Teachers in Wisconsin experienced a 27% improvement in investment knowledge and a 38% and a 47% improvement was recorded for credit union employees in Pennsylvania and Wisconsin, respectively, IEiYW data showed.
The program is offered by the Investor Protection Institute with support provided by the Investor Protection Trust. It is carried out jointly with state securities agencies and the National Credit Union Foundation.
The program is now available in 14 states, the District of Columbia, Puerto Rico and to additional employer groups.