Article

Financial Ed for Members—and Staff

piggybank wearing glasses standing on a stack of books
Contributing Writer

2 minutes

Jeanne D’Arc CU’s new financial wellness program is a hit with employees.

Before it launched an online financial wellness program for members this past summer, Jeanne D’Arc Credit Union first gave its employees the opportunity to review the modules covering topics from credit cards to social security enrollment to investment options. 

The $1.2 billion Lowell, Mass., credit union began offering the program “A Healthier You,” from EverFi, to its 230 employees in June. Within the first few weeks, 66 employees had completed all 24 topics, and about three in four employees had enrolled.

Jeanne D’Arc CU offered small prizes, such as a gift card after completing six modules and a certificate and beach towel bearing the credit union logo for completing the program, says Scott Flagg, SVP/chief member service officer.

“We had some friendly competitions to see who could finish first and get their beach towels,” Flagg notes.

The credit union began developing plans in 2016 to offer financial education “as part of our strategic plan to make sure our members have a sense of their financial well-being,” he says. Extending that goal to employees, Jeanne D’Arc CU did an internal survey asking its staff questions like “How financially stable do you feel?” and “Could you handle an emergency expense of $400 or $500?”

Based on those survey findings, the credit union launched the program early for its employees to help build their personal financial management know-how and to help them become more comfortable discussing those topics with members. 

The program offers five- to 10-minute videos with quick self-tests at the end to reinforce the learning. The modules for members and employees are the same, but employees get more in-depth content about the importance of building good credit since that’s a key message when interacting with members, Flagg says.

“A lot of employees see this as a way to develop their skills, both for their current jobs and for a possible promotion down the road,” he adds. “They love getting the knowledge without it being presented in legal speak. And we want our employees to be more comfortable in their own financial situations and in talking about these issues with members.”

Karen Bankston is a longtime contributor to Credit Union Management and writes about credit unions, membership growth, marketing, operations and technology. She is the proprietor of Precision Prose, Eugene, Ore.

CUES Learning Portal

Keywords

Marketing