Frank J. Diekmann made some good points in your commentary, “Is All That Credit Union Financial Lit Taking Place at the Wrong Time?” It’s so true that today’s adults are in need of financial education and guidance. And, perhaps, credit unions could put more focus in that area.
I would argue, though, that the work credit unions are doing at the high school level is essential. In California and Nevada, the Richard Myles Johnson Foundation has worked with credit unions to deliver 54 Bite of Reality fairs so far this year, reaching more than 4,800 teens. Because reality fairs give students an experiential learning opportunity, it is not the same as being lectured to. We’ve received lots of feedback from parents whose teens have gone through the Bite of Reality program, telling us that their kids came home talking about the program, what they learned and how important it was. The direct feedback from students is equally impressive. And I know the same is true for all of the reality fairs that credit unions offer throughout the country.
Yes, today’s adults need some attention. But let’s ensure that tomorrow’s adults have a head start. If we don’t focus on the young people now, we’ll just have another generation of adults in the same situation. So, to answer the question in your headline: No, credit unions’ financial education efforts are not taking place at the wrong time.
Tena Lozano
Executive Director
Richard Myles Johnson Foundation