From the latest in fashion to back-packs and laptops, it's no surprise that back-to-school shopping can be expensive, but credit unions around the country have caught on that this is the perfect time to offer credit cards and signature loans to their members.

Madeline Chase has two daughters- one is heading to middle school and the other will be a freshman in high school- in Cedar City, Utah.

“There is a lot of pressure to have the right clothes and to fit in,” Chase said. “I took out a signature loan and it took some of the pressure off. Not all of it, because I have two daughters, but at least financially I feel better.”

Chase took out a signature loan with the $4.4 billion Mountain American Credit Union in Cedar City, Utah at 7.74%.

Of course Chase isn't the only one out shopping. The National Retail Federation has found that the back-to-school shopping is the second largest shopping event of the year. They released their annual Back-to-School Spending Survey on Sept. 3, 2015 and a poll of over 6,500 consumers, conducted June 30 through July 8 showed that:

•$630.36: Average amount families with children grades K-12 plan to spend this year, down from $669.28 last year.

•$68 billion: Projected total spending for the back-to-school and college shopping season.

•42%: How much back-to-school spending has increased in the past decade.

Credit unions are noticing the loan growth opportunities with school starting and offering more signature loan opportunities for their members:

Mission Federal Credit union in San Diego, with $2.7 billion in assets, is offering their 'Back to School Signature Loans,' starting at 7.99% APR and White Sands Credit Union, with $267 million in assets located in Las Cruces, NM. is offering a line of credit starting at 9.65%

Credit card growth opportunities are also out there according to a study by Cardlytics, the company that pioneered the global Card-Linked Marketing industry.

Consumer spend data from 125 major retailers shows that in 2014, Back to School spending during the six weeks from mid-July to late August increased 3.04% year over year. Furthermore, this study shows that there is more opportunity than ever for credit unions to increase their bottom line and they should take special note of some key trends in Back to School consumer spending:

 “What we've found is that Back to School drives more spend and more trips to more stores across several categories,” said Dani Cushion, CMO of Cardlytics. “As a result, we recommend that retailers across the board prepare for Back to School as a distinct shopping event in both their media and in-store efforts.”

In a statement, the $70 billion Navy Federal Credit union in Vienna, Va. advises to “build a plan and a budget.” Calculate how much you can afford to spend on school-related expenses without blowing your overall budget or racking up debt. Make a comprehensive list of anticipated expenses for each child and build in a cushion for unexpected costs. Scoring bargains won't help your bottom line if you end up paying interest on unpaid balances. Examine previous years' bills and compare notes with other parents.”

Going back to school is also a great time to teach your child about financial responsibility.

I gave each of my girls $100 and told them to spend it wisely because that was all they were getting for clothes,” said Vivian East of Spokane, WA., who took out a loan for her families back-to-school shopping last month with the $1.4 billion Numerica Credit Union in Spokane. “Both of my kids took their time and checked the prices without me having to do it for them. It was a great learning experience and we had money left over to buy a new computer for the family.”