Some Americans are worried about their money as winter approaches. Money and the state of the economy worry more than 77% of US consumers. Despite the fact that this is a terrible position, credit unions can take action to equip their people and local customers by enhancing financial education. Surprisingly, the first step toward better financial literacy may be to collaborate with an ATM outsourcing company to install practical on-site branded ATMs at Select Employee Groups (SEGs) or nearby employer locations.
Access your account at labeled ATM places
Current and potential people may feel more confident and in control of their money thanks to the ease and familiarity of an on-site ATM at their place of employment. Fast cash on hand even enables consumers to better budget spending and adhere to economic plans, even though they can verify account balances and create deposits.
Promote financial education initiatives using ATM receipts and windows
The ideal way for credit unions to directly promote financial education initiatives to team members is to have ATMs at employer locations in addition to providing practical account access. Users can learn more about the programs, resources, and meetings available that are focused on money management skills by using receipts, pleasant screens, or signs.
Receptions, for instance, might record upcoming workshops on budgeting strategies or retirement savings. The following installment of an in-person financial literacy course may be highlighted by delightful screens. Eye-catching signs may point users to web portals with tools like household budget templates, investing guides, and saving calculators.
Create neighborhood collaborations to promote economic education.
Building relationships with nearby businesses is another benefit of having an ATM inside the walls of a SEG or regional company site. These touchpoints can be used by credit unions to create group partnerships focused on raising financial literacy.
For example, credit unions may collaborate with holders of business accounts to deliver lunch-and-learn seminars outlining ideas like emergency cash, decoding pay stubs, and making the most of workplace retirement plans. Or provide webinars on teaching financial literacy in the workplace to business partners to help them better manage their employees.
The conclusion
Credit unions may actually support the community during difficult economic times by giving monetary training priority. In order for more people to benefit from programs to increase their financial confidence and increase their money skills while also positioning your credit union as a monetary authority invested in the entire community, easily located, branded ATMs at workplaces offer readily accessible platforms that make spreading the word smooth.
Additionally, it doesn’t have to be expensive or time-consuming to manage the ATMs with the right partner, allowing credit union staff to concentrate on empowering customers through financial literacy initiatives without the hassle of loading cash or performing routine maintenance.