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CUs benefit from improving members’ financial health.

Most people wouldn’t describe themselves as savvy money managers. Yet we all face the challenge of stretching our paychecks to cover seemingly unpredictable expenses, sometimes with little room for error. For years, the standard way of tackling this problem has been with financial education programs. The thinking was that the main problem was an information gap, and arming people with the knowledge to navigate money matters would close the gap. But while these well-intentioned programs do appear to increase knowledge, they haven’t been shown to change behavior – or improve financial outcomes.

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