The Kansas Credit Union Association said it will launch a personal finance campaign that will promote debt reduction stories through a blog, social media and local news outlets.
The finanical literacy campaign – Money Possible: Destroy Debt –will follow Wichita, Kan.-area credit union members as they work with the Consumer Credit Counseling Service, KCUA said.
The program stems from KCUA’s recently launched Innovations & Implementation Lab, which creates and develops ideas to help credit unions and their members.
“One of the issues that came out of this summer’s launch of the Innovation Lab was the need for member and consumer financial education,” said Melissa Baptista, research and development director. “This pilot program satisfies the financial literacy need, as well as promotes the value of credit unions as strong financial partners.”
KCUA will choose the participants who will share their stories about destroying their debt through the MoneyPossible.org blog, on social media sites, including Twitter posts with the hashtag #moneypossible, and local media outlets. Weekly financial tips plus weekly segments with updates from the Money Possible participants will air on television. Four live interviews will also air throughout the campaign.
The campaign will run for 16 weeks from February to June 2014.
“Recent surveys have shown that Americans need help with their money management,” Baptista said. “By telling our members’ stories in a public venue, others can benefit from the financial tips, as well as learn from the members’ challenges and successes.”
The average household credit card debt is $15,112, according to KCUA. Additionally, the average student loan debt is more than $31,000 and the average mortgage debt is $146,000.