MADISON, Wis. – The National Credit Union Foundation said it is partnering with Members Development Co. on a collaboration aimed at bringing credit unions additional value and resources on consumer financial health.
The Foundation and MDC have a joint membership in the Center for Financial Services Innovation’s (CFSI) Financial Health Network.
According to the Foundation, the collaboration offers credit unions “members-only” pricing through the Foundation and MDC to attend CFSI’s signature EMERGE Forum in May 2019, access to three CFSI-led webinars on consumer financial health topics, and insights through a mutual research project that the Foundation and MDC identify as relevant to credit union financial health work.
“One of the guiding principles of our movement is cooperation amongst cooperatives,” noted Gigi Hyland, executive director of the Foundation. “This collaboration was built in that spirit. We want to provide resources, ideas, best practices and timely research that help credit unions advance the financial health of their members and communities.”
What the Research Shows
The Foundation pointed to research from CFSI and its U.S. Financial Health Pulse report in 2018, which showed that 72% of Americans are either financially coping or vulnerable.
“MDC has found great value in working with CFSI, particularly on our Student Debt Project,” said Sarah Lietz, vice president at MDC. “Through our membership, our owners will gain access to CFSI’s top-notch research and expertise around financial health. And collaborating with the Foundation means we can do that at a lower cost while aligning with another forward-looking credit union organization.”