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Expert Opinion

How Credit Unions Can Prevent Monetary Pitfalls

Credit unions must assist their members through education programs and financial planning.

By Rhiannon Stone | January 18, 2019 at 09:00 AM
CUs benefit from improving members’ financial health.

Over the past 10 years, the American economy has fully recovered from the devastating economic effects of the Great Recession. The unemployment rate is at its lowest point in 48 years. Income levels have risen. GDP growth is strong. Nevertheless, major financial issues persist under the surface for countless American citizens.

Unfortunately, Americans do not have the necessary strategies in place to traverse everyday financial problems. The most predominant reason is the lack of financial literacy on issues such as student loans, general savings and retirement savings. Luckily, Americans can utilize their local credit unions to help supplement their existing financial knowledge and approaches.

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