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Programs

Financial Education

Financial Education is a core principle of credit unions, and the ICU Foundation has been a leader in helping credit unions provide this valuable information as well as consumer-friendly products and services to their members. The ICU Foundation connects credit unions with the best educational programs, the latest research, and innovative ideas to improve the financial well-being of their members.

Financial Education Outreach Reporting
Financial Reality Fairs
Money Smart

The Credit Union Financial Education Network (CUFEN), formerly known as the National Youth Involvement Board (NYIB), is collecting information from credit unions regarding their financial education outreach for all ages for the period of July 1, 2024 to June 30, 2025.

Please take a minute to review the reporting step-by-step instructions then submit the report for your credit union online using the easy-to-complete report form by July 7, 2025.

Illinois Outreach – 2023/2024

# Youth Reached	16,879
# Presentations for Youth	634
# Adults Reached	12,882
# Presenations for Adults	345
Financial Education Platform Usage	60,231
# CUs Reporting	18

CUFEN Financial Education Impact Submission Details

Credit Union Financial Education Network (CUFEN) is the main credit union organization that maintains standardized reporting of financial education presentations in the U.S.

This reporting information is used by national and state legislators who lobby for mandated financial literacy programs in schools and communities. Data is used locally by leagues and credit unions to promote community service efforts and demonstrate the credit union difference.

CUFEN reporting year runs from July 1 through June 30 of the following year.

Presentations are defined as structured presentations to a group of 5 or more students or adults.
Presentations can be conducted in-person or virtual; recorded presentations do not qualify.
Use the Financial Education Platform section to record access to online financial education materials.
Presentations that promote CU or CU services for membership, do not qualify.
The focus of the presentation must be educational. CUs can mention they offer accounts or loans, but the main point of the session is providing educational information. Example: a lunch & learn about building savings where CU high yield accounts are mentioned = include vs. a presentation about the benefits offered by CU = do not include.
Visits to schools to pick up deposits for in-school branches do not qualify.
Qualified presentations include community groups, schools, scout troops, CU employees or other organizations including reality fairs.
Multiple presentations to the same group should be handled by counting total students once and can include the total number of presentations (each presentation counts separately).
Sponsored financial education programs (ex. Banzai, Stukent etc.) that are not presented by a CU employee, do not qualify for reporting.
Use the Financial Education Platform section to record access to online financial education materials.
Students are defined as ages 0-18 years old.
Adults are defined as 19+ years old.

Important Notes:

Please ensure there's only 1 person submitting this data per Credit Union.

If your CU has a multi-state footprint, please submit a form for each state represented for accurate reporting.

Financial Reality Fairs are fun, interactive ways to teach personal finance subjects such as budgeting and retirement planning. Participants immerse themselves in the topics during these lively experiential learning sessions where they learn by doing.

Bite of Reality is a unique way for students to experience some of the financial challenges they will face when they start life on their own. It’s hands-on learning where students receive an identity which include their careers, salaries, credit card and student loan debt, and families. Students pay for basics such as housing, utilities, transportation, clothing, and food while trying to stay within their means. Throughout the fair, there are many temptations for additional spending, and students must learn to balance their wants and needs to live on their own.

Retire on Track offers adults a fresh perspective for retirement planning where the focus is on what type of lifestyle participants want to have as retirees. Considerations include where to live, what activities to pursue, and which changes they expect compared to their current lifestyle.

The ICU Foundation offers the Bite of Reality and Retire on Track Programs to ICUL-affiliated credit unions at no cost. Contact the ICU Foundation for assistance in presenting reality fairs.

ICUF Reality Fairs Materials

FDIC Money Smart – a financial education program can help people of all ages enhance their money management skills and create positive banking relationships. Money Smart has a long track record of success and includes traditional educational materials listed below, Spanish language materials, as well as a new set of online games “How Money Smart Are You?“

Money Smart for Young People – This set of four grade-specific curriculums includes lesson plans and Parent/Caregiver Guides to help educators deliver basic financial concepts to students in kindergarten through 12th grade. The FDIC developed these materials with the Consumer Financial Protection Bureau (CFPB).
Money Smart for Young Adults – Each of the eight modules includes a fully scripted instructor guide that bankers and others without teaching experience can easily use to help young people ages 12-20 learn the basics of personal finance.
Money Smart for Adults – This 14-module curriculum can be used to provide training for adults in many different life stages and financial situations including adults new to this country, adults with disabilities, adults starting or changing careers, and adults going through significant life events such as expanding their families or purchasing or renting their first homes.
Money Smart for Older Adults – This curriculum focuses on preventing elder financial exploitation. The FDIC developed these materials in collaboration with the CFPB.
Money Smart for Small Business – This curriculum provides information related to starting and managing a business. The FDIC developed these materials with the U.S. Small Business Administration.

Federal Reserve Bank’s Money Smart Week – Created by the Federal Reserve Bank of Chicago in 2002, Money Smart Week® was a public awareness campaign designed to help consumers better manage their personal finances. The annual week-long event ended in 2023.

Questions?

Reach out today!

Melanie Murphy