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Vault Brings Learning Up a Notch

Today we’re featuring a guest post from elementary student Natalie who earned her Vault – Understanding Money certification this spring. Natalie shares how the Vault program started out as just an assignment, but quickly became a valuable learning experience for her future. Congrats to Natalie for being one of our scholarship recipients!

Natalie

Student: Natalie
Teacher: Ms. Caterina
School: Mammoth Heights Elementary School
State: Colorado
Sponsor: Colorado Office of the Attorney General

My name is Natalie and I am 12 years old. EVERFI’s Vault was a life changer for me. I learned so much and had so much fun doing it! It took me a while, but it was worth it. I learned so much within the six lessons, but learned the most out of Responsible Money Choices, Income and Careers , and Planning and Money Management. At first I started out doing it for an assignment and ended up doing it for fun.

The first world within the program was about Responsible Money Choices. When I was about 10 or 11 years old, I started a savings account. I would earn the money and go to the bank to deliver it straight into my savings account. I stopped after a while as I yearned to go the mall or movies with my friends. I ended up almost using all my money except for the money in my savings account. When I started the Responsible Money Choices lesson on EVERFI, I started feeling guilty and ended up putting money in my savings account again. I keep a little money in my wallet for things I really need but the rest of my money goes in the savings account. I learned that having a savings account is an important thing and money isn’t meant to be wasted. I should also save my money now so that I can have it for the future. Such as college, or maybe even my career. I hope I never use all my money up again for silly things.

When I was done with the first world I was excited to see what was next. It ended up being the Income and Careers lesson. At first I didn’t know what income was, but as I continued through that activity’s lessons I learned that it is hard earned money through a career. A career is usually a passion that is turned into something that will be happening for the rest of a life. I first started out bored and confused but ended up learning that income is very important and is not just about making money. It is about making money and having fun doing it.

In the third lesson, Planning and Money Management, I learned so much. I have a very big structured brain, which means that I am very organized. Planning is a big part of your future. With my organized brain I am sure that I can take my knowledge to the next level. I can think about my money. I learned that it is the best time when you are around my age to start saving up and stop spending. That is why I started a savings account. It helps my organized brain think. I also learned that it can be so confusing to do taxes and checks. As I got deeper into Vault, I learned that can be quite simple.

EVERFI is such an amazing and really helpful tool. It helped me through some tough times. I hope everyone around the world uses EVERFI’s Vault. It may start out as an assignment, but will for sure turn out as a thing to do for fun. It brings learning up a notch and is very helpful for teachers. EVERFI is a life changer.

Join our webinar June 7th 1PM

Financial Education as a Digital Marketing Tool

Join our webinar June 7th 1PM

Join our webinar on June 7th 1PM EST to learn about how you can leverage financial education.

Four Reasons Why Financial Institutions Should be Paying Attention to Financial Education

Increasingly, financial institutions are leveraging digital financial education to market products and services to a highly targeted and responsive audience. In fact, a recent EverFi survey found that 89 percent of banks and credit unions are already using financial education as a part of their digital marketing strategy, while 45 percent are planning to increase their budget in this area. If you’re not investing in financial education as a digital marketing tool, here are four reasons why you should be:

  1. Consumers interested in financial education are hot leads
    Consumers who are seeking out financial education are already expressing interest in financial services—meaning they have “self-selected” as hot leads. By offering valuable, reliable information, banks and credit unions are positioning themselves as trusted sources of information, and are perfectly positioned to (very selectively) pitch relevant products and services.
  2. Financial education offers highly segmented audiences
    Offering digital financial education programs tailored to different topics and life stages allows banks and credit unions to segment this audience even further. For instance, a young Millennial learning about student loans might also be interested in an auto loan for their first car, while a mid-career earner researching retirement plans might be interested in learning about other investments.
  3. Going digital means accessing your audience anywhere, anytime
    Providing online financial education programming allows your institution an unprecedented reach—banks and credit unions can access their audience anywhere, anytime—via mobile phones, laptops, tablets, and other devices.
  4. Everyone else is doing it
    We’ve already learned that 89 percent of all financial institutions already provide online financial education. With that in mind, the most compelling argument for investing in this marketing tool might be that if you aren’t offering it, your customers will quickly find someone else who is.

Bottom line? In today’s on-demand digital world, if your marketing plan does not include digital financial education, you’re missing out on the chance to both attract and retain customers. For more information on how to leverage financial education for marketing, join our webinar June 7th at 1PM EST.

University of Kentucky Federal Credit Union Case Study

UKFCU: Boosting Member Financial Wellness with Digital Financial Education

As a member-owned financial cooperative, the University of Kentucky Federal Credit Union has an especially vested interest in their members’ financial decision making. Understanding that financial education technology could make a big difference for their members, they tapped into EverFi’s expertise to design digital financial education courses and implement a large-scale outreach initiative.

How the U. of Kentucky Credit Union launched an incentivized digital financial education program that boosted engagement and promoted auto loan sales.

Download EverFi’s case study, Driving Member Wellness Through Online Education: The University of Kentucky Federal Credit Union

With EverFi’s digital financial education training modules, the University of Kentucky Federal Credit Union was able to offer accessible financial education without taxing their limited staff resources. And, as an incentive for members to participate, they decided to offer a quarter-point interest rate discount on a new auto loan for any member who completed four training modules. This reward not only boosted participation, but it also had the added bonus of helping to promote auto loan sales.

The program proved to be hugely successful, with more than a third of the visitors to the credit union’s website taking time to engage with the auto loan discount program. Among members who registered for the program, 87 percent completed at least one module, with 37 percent completing the entire program.

The online education content has also helped the University of Kentucky Federal Credit Union improve their digital presence and connect with hard-to-reach millennial members. Thanks to their partnership with EverFi, they’ve found a solution to member financial wellness where truly everyone wins.

To learn more about how the University of Kentucky improved member financial wellness and their digital financial marketing strategy with EverFi, read Driving Member Wellness Through Online Education: The University of Kentucky Federal Credit Union.