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Jake Holmes, League Financial Education & Outreach Director
There are quotes offering life advice that are rarely disputed, such as “treat others how you wish to be treated” and “don’t judge a book by its cover.” However, one example that tops the list is “save for a rainy day.” This quote has long been referenced as a financial best practice, with the adage being traced back to fables written by Aesop, the ancient Greek storyteller. There’s a reason the quote has stood the test of time; effective, impactful wisdom is timeless. While the U.S. financial system is different from that of ancient Greece, the importance of saving remains a commonality.
This is why the Maine Credit Union League created the theme “Save Away for a Rainy Day” to promote Credit Union Youth Month this April. When kids learn the importance of saving, they are laying the foundation for financial success. Through the forum that Credit Union Youth Month and National Financial Capability Month provides, we are able to reach a larger audience with the youth financial education offerings we provide year-round.
As credit union representatives, we are uniquely positioned to teach personal finance to our membership and communities. Because we’re a collective of member-owned cooperatives, we have a vested interest in helping our members improve their financial wellbeing. We also don’t have the same pressure to generate profits in the same way a bank does—meaning we can invest more time and resources into providing financial education.
Over the past few weeks, you have all proven your positions in this space. Maine credit unions’ social media channels, websites, and e-newsletters have all been in alignment, with Credit Union Youth Month materials being prominently featured. In fact, I challenged myself to scroll a social media timeline for 30 seconds without seeing any “Save Away for a Rainy Day” graphics or messaging. I’ve never been so happy to fail at a task! I am beyond proud to work with a collective of organizations that uniformly recognize the importance of investing in youth financial education.
At the end of the day, financial education is just that—an investment. While we provide financial literacy outreach in the spirit of People Helping People, and in hopes of giving everyone equal opportunity to succeed, there are mutual benefits by happenstance. Children who mature into financially literate members can make more informed decisions. As a result, their success helps their credit union succeed. As cooperatives, we’re all in this together. What it truly comes down to, though, is that it’s the right thing to do.
I look forward to doing those “right things” with our credit unions each April, even though we never truly take a break. If you haven’t already, I hope you’ll join me in promoting Credit Union Youth Month, with an end goal of getting kids familiar with saving. I also hope you’ll join me at a Financial Fitness Fair in your community. There is a need for financial education in schools and we can answer the call with our Financial Fitness Fairs. They’re insightful, educational, and a lot of fun.
In closing, I truly believe your contributions in educating Maine’s youth will pay dividends–pun intended—and I am looking forward to hearing your success stories from Credit Union Youth Month and National Financial Capability Month. As always, I hope you will continue your outreach throughout the remainder of April and beyond, and reach to our League anytime you need assistance.