But financial readiness doesn’t begin when a young adult applies for a product. It’s built long before that, through years of small decisions, everyday habits, and early experiences with money.

That’s where the gap sits. Many institutions evaluate readiness. Far fewer help build it.

The Relationship Starts Earlier Than You Think

Long before a young adult opens an account, they’re already forming financial habits and opinions about who they trust with their money. By the time a credit union makes its first offer, much of that foundation is already in place.

The institutions winning the next generation aren’t simply targeting 18-year-olds. They’re showing up earlier, during the years when habits and trust are still being shaped.

And if a credit union isn’t part of that process, someone else is. Fintech apps have figured this out, and they’re winning one family at a time.

What Families Are Actually Looking For

Parents aren’t looking for another app. They want practical ways to turn everyday moments into real lessons.

• A 10-year-old saving up for a new game and tracking their progress.
• A 13-year-old learning to split money between spending, saving, and giving.
• A 16-year-old managing their first paycheck with a little guidance alongside them.

These experiences are happening right now, with or without a credit union involved.

That’s exactly the gap Boucoup was built to fill, a family banking platform that helps credit unions build relationships with parents and their kids today and turn them into members for life.

Why This Is A Credit Union Conversation

Credit unions were built to help members, families, and communities make better financial decisions throughout their lives. Family banking is where that mission gets to show up earlier.

When a parent helps their kid save for the first time, that’s financial wellness in action. When a teenager learns to manage a paycheck with guidance, that’s the real-world education credit unions have always believed in. When a family builds a relationship with their credit union before they ever need a loan, that’s community, deepened.

At Boucoup, we call this the Win-Win-Win:

Parents get practical tools to teach financial responsibility at home. Kids and teens build genuine confidence through real money experience. And credit unions get to live their mission during the years it matters most, growing household relationships long before any competitor enters the conversation.

The Window Doesn’t Stay Open Forever

The years between childhood and adulthood are when financial habits take root and trust is decided. The institutions that show up during that window are earning a place in someone’s financial life before anyone else gets the chance.

Every day, families are choosing tools, forming habits, and deciding whom they trust. That process isn’t waiting for anyone.

The credit unions that win the next generation will be the ones that showed up earlier, when habits were forming and trust was still being earned.

Boucoup is a family banking platform built for credit unions, helping institutions reach parents, kids, and teens long before traditional membership begins.

Families are forming financial relationships right now. See how credit unions are using Boucoup to be part of that decision. Request a demo.

The post The Financial Readiness Gap: Credit Unions Evaluate It Every Day. But Who Builds It? appeared first on CreditUnions.com.

Member finances are under serious pressure. Persistent inflation, high fuel costs, eroding insurance subsidies, and a slew of other economic stressors are making life harder for Americans. Across the income spectrum, members need their credit unions to help them protect what they have and reach their goals.

To meet this moment, credit unions need a shared language and framework. Right now, there isn’t one. Conversations tend to focus on two familiar terms: financial literacy and financial health.

Both matter. Neither tells the whole story. And neither covers the available gamut of options to serve members.

Knowledge Is Necessary, But It’s Not Sufficient

Financial literacy is what people know about how money works — compound interest, the true cost of easy credit, the basics of budgeting. That knowledge is genuinely empowering. It can help members avoid traps and plan for the future, but it can’t change facts.

Financial literacy is not a magic wand for overcoming past mistakes or tackling new calamities. It offers limited help to those without the basic financial health to act on it.

Financial Health Is About Means, Not Just Habits

Financial health is simpler to define: Do you have enough?

Can a member cover food, shelter, healthcare, transportation, and the basics of modern life? Can they live within their means? Do they have slack to pay bills in full and on time? Is their debt manageable? Do they have anything left over at the end of the month?

Without basic financial health, true financial resilience is out of reach.

Don’t stop here. Financial wellbeing isn’t about budgets or education; it’s about trust, confidence, and a sense of control. Read more in “Financial Wellbeing Isn’t What You Think It Is.” Read more today.

Resilience Is Where It Gets Real

Financial resilience is the ability to withstand financial shock or strain.

Do members have emergency savings to absorb an unexpected car repair or plumber’s bill? What about something more serious, like a job loss or a medical crisis?

Most Americans have some degree of resilience, but it’s thin. And even households with the recommended six months of reserves are under real pressure. When gas prices jump 40%, meat prices climb nearly 20%, and insurance premiums spike, those reserves can erode fast.

Credit unions have tools to help, but in this environment, tools alone aren’t always enough. The leaders Callahan sees making a real difference are thinking outside the box in a couple of ways.

Building Financial Access

Credit unions are not-for-profit, but they’re not a charity. Luckily, financial access isn’t about goodwill alone. Financial access is a purpose-led, sustainable business practice.

Here are three examples of how a credit union might do well while also doing good:

1. 1. Form partnerships with local businesses to provide affordable access to critical resources, like working with local car dealers to finance efficient, reliable transportation so people can get to work and keep their jobs.
   2. Build support for small-business ecosystems that create resilient local networks and provide member business lending opportunities.
   3. Deliver essential financial services, like check-cashing, bill payment, and basic transaction accounts, on a risk-managed, profitable basis.

Of course, there are numerous other paths as well. If your credit union is pursuing anything like this, Callahan & Associates wants to hear from you. If you have a story to tell about the impact your team has had on a member’s life, please share it through our Member Story Project. In fact, feel free to share more than one.

Building Emotional Connections

Financial health and financial wellbeing are not the same thing. People who are truly thriving have both means and a sense of security that comes from confidence about the future. For most people, the key piece of this puzzle is a financial partner who cares about them. A partner who anticipates their needs, who always has their back, and who they can trust completely. Credit unions that prioritize emotional engagement can be that partner.

In our work with Gallup leading the Member Engagement & Financial Wellbeing Consortium, Callahan helps credit unions build and measure exactly these kinds of relationships. The data is clear: members who are emotionally engaged with their credit union enjoy measurably better financial wellbeing than bank customers and even than other credit union members who lack that depth of connection.

Credit unions care about the people they serve; but caring isn’t enough on its own. Members need to feel that care consistently and concretely, through every interaction. In times like these, emotional connection can matter even more than financial management tools, competitive rates, and great service. That might sound squishy. The data says it’s real.

Financial wellbeing builds over moments. When credit unions make it easier for members to improve their financial position — whether through smarter payment tools or clearer guidance — they strengthen long-term relationships. Gallup research shows emotionally engaged members are 5.4x more likely to stay and 5.6x more likely to trust their credit union as a financial advisor. The Member Engagement & Financial Wellbeing Consortium helps credit unions turn everyday interactions into measurable gains in trust and wellbeing. Learn more today.

The post Connection And Caring Matter As Much As Knowledge And Resources appeared first on CreditUnions.com.

Top-Level Takeaways

• Outcomes, not good intentions, better determine where work belongs in an institution.
• Narrowing focus areas can help a foundation gain clarity without sacrificing purpose.
• Financial education has a greater impact when people have access to tools and real-world application.

Financial education initiatives aren’t neutral. The credit union industry rarely talks about it this way, but balance sheets and data do.

At Wright-Patt Credit Union ($9.6B, Beavercreek, OH), leaders identified a clear pattern across its financial learning programs. Members who participated in that learning engaged more with the credit union. Deposits grew, loan balances shifted, and relationships deepened.

“Intentionally or unintentionally, financial learning became a pipeline into the credit union,” says Ivy Glover, director of community impact and development and executive director of the WPCU Sunshine Community Fund.

This created an opportunity for additional clarity and cohesion. Foundations are designed to give without expectation of a return. Credit unions, on the other hand, want to responsibly grow. So, what happens when a product or service does both? To answer that, Wright-Patt examined what it offers as developmental and what it offers as philanthropy.

“There’s overlap that should exist,” Glover says. “But there’s also overlap where we can provide more clarity.”

3 Questions To Rethink

Internally, the WPCU Sunshine Community Fund Board, senior leadership team and community development staff began examining the credit union foundation through a new lens.

“We started talking in terms of swim lanes rather than driving lanes, meaning there’s some fluidity,” Glover says. “Where does it make sense for the foundation to operate in a way that flows into the credit union and vice versa?”

To build cohesion and clarity as well as make a greater community impact, the credit union considered three essential questions:

1. 1. What do we want the foundation to represent or achieve over the next five years?
   2. Why would the foundation need to be a passthrough for nonprofit partners and neighbors?
   3. How can the foundation support execution of the mission and purpose for the credit union?

Ultimately, the group settled on a shared outlook.

“Programming should live under the credit union, and giving should live under the foundation,” Glover says.

Today, the credit union is figuring out how to make that outlook a reality.
Don’t stop here. While Wright-Patt Credit Union works to clarify the line between philanthropy and development, Marine Credit Union is intentionally blending the two. Read more in “How Marine Credit Union Shifted Its Foundation From Siloed To Symbiotic.”

From Strategy To Operational Changes

New strategies tend to take time to come to fruition. After WPCU clarified its outlook for the credit union and the foundation, however, it made some immediate changes. It narrowed the Sunshine Community Fund’s eight wellbeing focus areas to four and stopped pursuing major external funding to avoid competing against the very community partners it seeks to support.

“Our primary revenue resources come from are our employees, our members, and the credit union itself,” Glover says.

Today, a new model is emerging where the foundation functions as a funder, whereas the credit union increasingly handles delivery and engagement.

In three years, Glover envisions the credit union’s community development specialists and coordinators engaging with community partners, SEG organizations, and business partners while the foundation focuses on providing grants, investments, and funding for nonprofit partners. It could also support scholarships, housing initiatives, and, potentially, cover the costs to develop and distribute tools like the Pocket Money Mentor, a self‑paced workbook that helps build practical money habits around spending, saving, borrowing, and planning.

The Effect On Financial Education

The new approach means neither Wright-Patt Credit Union nor the WPCU Sunshine Community Fund has to eliminate programs. However, programs might evolve or move.

This is especially true when it comes to financial education.

In the past, the foundation handled WPCU’s Money Magnifier curriculum, a K-12 financial literacy program that aligns with state standards. After the credit union hired a community development coordinator to work directly with schools to manage student educational engagement, it blended the model. Today the foundation funds the development and provision of the curriculum and resources in community, and the credit union partner-employees use the resource to teach students directly.  The new structure takes into account the increased likelihood students will want to access WPCU products, such as checking accounts or auto loans, and provides an environment in which the coordinator can talk about it.

“We want to have the flexibility to pair the educational tools with real-world application and resources,” Glover says.

A Little Gray Is A-OK

Balancing purpose and impact for the credit union versus its foundation can be difficult, but this duo views the work as just another way to serve their community more effectively and efficiently while giving each organization a clearer role.

WPCU’s shift remains a work in progress, and given the diversity of missions and intended outcomes among credit unions and their foundations, Glover says there’s no one single structure that translates cleanly across institutions.

“No matter what structure you choose, there’s always going to be some gray area,” Glover says.

Glover doesn’t see that as a problem, however, because the core of the movement doesn’t change.

“At the end of the day, both entities exist to fulfill WPCU’s purpose and mission,” she continues. “The approach to making impact might look different, but helping people and the community live financially well and being there for them at every step is what we’re all here to do.”

The post The Line Between Growth And Impact Was Blurry. Wright-Patt Decided To Redraw It. appeared first on CreditUnions.com.

That realization landed with force for Tracy Verner, community development manager at Alltru Federal Credit Union ($392.5M, Wentzville, MO). After years of watching members absorb financial education but remain boxed out of the system, she began pushing the cooperative to rethink what real progress looks like — what financial empowerment looks like.

“Financial empowerment is information combined with access,” she says. “Many financial institutions offer well-meaning financial literacy — workshops, gamified apps — but it’s still just information. We’re doing an injustice if we provide information without the tools to apply it.”

The philosophy has changed the way the St. Louis cooperative operates, from product design to employee training. The result? Stronger culture, deeper partnerships, and helping more people who otherwise might have remained unbanked.

Gaps And Barriers

To truly empower members, it’s necessary to understand the barriers they face and examine who the credit union is not yet serving.

“If you’re truly committed to empowerment, it’s your responsibility to provide access,” Verner says. “Credit unions were built on inclusion, so ask: ‘Who’s being left out, and why?’”

An early experience in Verner’s credit union career underscored to her the importance of doing things differently. Speaking with a workshop attendee after an event, Verner learned the woman couldn’t open a checking account.

“I was floored,” Verner says. “She had steady income working for the city of St. Louis but couldn’t access a checking account. This was before fintech tools like Venmo or Cash App. She was receiving paper checks, and when the city stopped issuing them, she was forced onto a prepaid card with fees.”

Verner met with her boss and learned the woman had an incident in her ChexSystems report that barred access to checking. In these kinds of screening systems, even a single overdraft charge can easily turn a short-term issue into a multi-year obstacle. At the end of 2025, approximately 6% to 7% of U.S. households were unbanked, according to Bankrate, largely because of prior banking problems.

So, Alltru turned ChexSystems off.

“This was before the Bank On movement even reached St. Louis,” Verner says. “Altru was already questioning those barriers. Leadership was already asking why.”

Don’t stop here. The community development manager at Alltru FCU turned in her barbells for bank accounts and is building access one account at a time. Read more in “Tracy Verner Is Breaking Barriers In St. Louis Finance.”

Expanding Access Without Increasing Risk

Opening access at scale shifts responsibility inside the institution and can raise questions about risk management, making effective collaboration with finance and compliance teams essential.

“Our compliance manager tracks outcomes closely,” Verner says. “We’ve found people flagged in ChexSystems do not show higher fraud or delinquency rates. The data simply doesn’t support the perceived risk.”

Alltru regularly evaluates programs and purposefully keeps guardrails flexible. For example, the credit union noticed an issue involving fraud through ATM deposits among its youth workforce program. So, it pivoted.

“Instead of shutting it down, we increased our fraud education efforts, reduced ATM withdrawal limits, and added monitoring,” Verner says. “We didn’t stop the program. We refined it.”

Alltru takes the same creative approach to lending. Traditional secured loans tend to rely on upfront cash or collateral. That’s a barrier for members without savings. Alltru’s credit builder loan removes that requirement, although it doesn’t release funds immediately to reduce risk while still helping members build credit. In practice, however, early usage indicated Alltru needed to recalibrate the loan.

“Initially, it was $1,000 over 12 months,” Verner says. “We realized some members couldn’t handle that.”

Today, the Missouri cooperative offers loan options as low as $300 because even $30 every month can help members without creating excess financial strain. Alltru has also gradually leaned into relationship lending, and half of its first-time auto loan borrowers don’t have a credit score.

“You start with good intentions,” Verner says. “Then you refine based on real needs.”

Empowerment As An Organizational Mindset

Financial empowerment starts with understanding the consequences of credit union decisions. Verner spends time in the community working alongside nonprofits and listening to members outside the branch to identify where well‑intended policies still limit access.

“Being in the community, working with nonprofits, seeing real challenges brings up more questions,” she says. “It forces you to ask why.”

Of course, asking why only matters if it changes how people make decisions, which is why financial empowerment at Alltru also rests on a shared understanding of what it means to struggle, how strain shows up in everyday life, and who needs support.

“The rising costs of housing, groceries, and auto loans have impacted everyone,” she says. “This isn’t someone else’s problem. This is about our neighbors, families, and even our coworkers.”

That awareness changes decisions, from product design to flexibility at the margins. As a credit union focused on empowerment, Alltru is willing to look for ways to preserve access instead of restrict it.

Forward-thinking credit unions are leading with financial wellbeing. Alltru FCU’s evolution from education to true financial empowerment reflects a broader shift across the industry. The Member Engagement and Financial Wellbeing Consortium, led by Callahan & Associates in collaboration with Gallup, helps credit unions embed financial wellbeing into strategy, product decisions, and culture. Through shared insights and peer collaboration, participating credit unions are aligning around what drives real member confidence, engagement, and long-term growth. Learn how the Consortium is helping credit unions turn empowerment into measurable impact.

The post Why Financial Empowerment Matters More Than Financial Literacy appeared first on CreditUnions.com.

For the past 20 years, Holy Rosary Credit Union ($487.1M, Rochester, NH) has operated a career and technical education (CTE) banking program at Spaulding High School through the Richard W. Creteau Regional Technology Center, pairing classroom instruction with an on‑campus branch. This year, enrollment is at full capacity. There’s even a waitlist.

But it wasn’t always that way.

The New Hampshire cooperative made some changes due to the impact of COVID. Because the program relies heavily on hands-on instruction, a staffing gap and lack of in-person instruction put its future at risk. Five years ago, Carlynne Pouliot, who was at the time assistant vice president of financial services, stepped in to rebuild the program. Today, it’s on firmer footing.

“It’s really evolved in the past four years,” Pouliot says. “This is our most successful year since the pandemic.”

According to Pouliot, who is now vice president of retail and business development, student feedback and a deeper relationship with school administration has helped strengthen the program. The biggest factor, however, was finding the right teacher.

“I have the best students,” says Kayleigh Erwin, who has run the program for two years. “Yes, they can be a little silly. Of course, they’re high schoolers, but they are still hardworking.”

Real World Experience Is The Differentiator

Sometimes, the best way to learn is by doing. HRCU’s flagship course is Banking & Financial Support Services, a year-long course that blends financial literacy with workforce development.

In the classroom, students cover personal finance topics such as budgeting, saving, and investing while also learning about banking regulations and working with members.

“The first month is learning cash handling, confidentiality, and our teller system,” Erwin says. “Even if they don’t go into banking, it’s usually their first customer service experience.”

The on-campus branch is open three days a week, and each student is assigned one shift per week as a part of their instruction. There, they handle real member transactions with the same systems tellers use in all HRCU branches. Additionally, students in the Hoy Rosary banking program have the opportunity to earn college credit.

“Students in the tech center can earn three free college credits, so this helps them save money,” Erwin says.

Last year, Erwin worked with Great Bay Community College, submitting her credentials and curriculum for approval. Now her class counts as ECON 225 Personal Finance (worth three credits).

Pouliot says this helps to further connect academics with real-world careers.

“Research shows students who earn college credits in high school are more likely to enroll, stay enrolled, and graduate,” she says.

Students in the year-long program can also earn a $750 scholarship from HRCU based on their performance.

Students who might not want to commit to a year-long class have the option to take Introduction to Banking. This eight-week feeder course for the main program covers the same personal finance topics but offers a more general overview of banking concepts and industry basics, such as the history of the credit union movement. The shorter format lowers the barrier to entry and has proved to be popular.

“It increased enrollment,” Pouliot says. “Next year we expect 20 students, split into two classes. We have already filled next year’s program.”

Student Growth. New Opportunities.

The program’s growth and popularity has enabled HRCU to offer an expanded extended learning opportunity (ELO) this year. This advanced, individualized experience is designed to allow select students to take full ownership of branch operations.

“One of our students this year will be an intern next year running the branch for a dedicated class period,” Pouliot says. “She’ll have a job description role responsibilities. We’re fully confident in her skills.”

Responsibilities include opening the branch, managing a cash drawer, and handling day-to-day operations on their own. The role also extends beyond the classroom, incorporating a paid internship component during both the school year and summer.

What sets the ELO apart is it’s fully self-directed.

“There is no curriculum,” Pouliot says. “We create a job description, they come into the role, and then they self-operate. They have to connect back to the ELO director about their training, their experiences, and the projects they’re working on.”

The credit union trusts these students to operate at a professional level, making this the highest tier of responsibility within the program and a direct bridge to workforce readiness. Moving forward, HRCU hopes to expand this offering to accommodate more students in the future.

Enrollment and participation are important success metrics for these courses, however HRCU also monitors branch usage, account openings, and how effective the program is as an opportunity to help students adapt into the career world.

In regard to that last item, the credit union has multiple success stories, including one from several years ago in which a former student stuck with banking and eventually returned to work at HRCU as its consumer lending manager. According to Pouliot, they remain in the industry to this day after moving to a different state.

More recently, a student who graduated from the program last year as a senior is now working full-time in the credit union’s main office.

“We also hired a part-time student from our program last year,” Pouliot says. “He’s in his junior year of high school, so he works with us every Saturday.”

Evolution Based On Student Voices

Perhaps the biggest reason the banking program is so popular is the fact that student feedback plays such a major role, not just in how HRCU structures classes but in how it approaches youth banking overall. This year, HRCU established an annual volunteer student focus group open to all students.

Pouliot says it’s been an invaluable resource.

“Every piece of data we’ve got from those focus groups we’ve put into play,” the VP says. “Now, marketing and I can present to our executive team about how we can restructure our teen accounts based on the feedback we’re receiving from those focus groups.”

Student insights support services, too, not just products. For example, students told HRCU they wanted to know more about budgeting, so the credit union is hosting a seminar on the subject in May just for them. Erwin says there’s a strong interest in how savings and credit work, and she receives several questions about how students can get the most out of their money. She also says students are a lot more engaged than some might think.

“There’s a misconception that students aren’t motivated, but that couldn’t be further from the truth,” she says. “They want to learn, attend college, and give back. They challenge themselves. They hold jobs while balancing CTE, clubs, and volunteer work. They are working.”

Hands-On And All-In

Pouliot says HRCU’s banking program relies heavily on participation from credit union leadership and strong integration with Spaulding High School and the surrounding community.

“Our board is hands-on,” she says. “We have our chair of the board, our vice chair of the board, and another board member who attend the focus groups. When we do donations at the school, the board comes.”

The credit union also hosts panels with employees from different departments so students can see different career paths that are available.

“We invite the business program, the marketing program, and our banking program,” Pouliot says. “It’s a well-rounded panel.”

The value of a strong relationship with school administrators also cannot be understated.

“Anytime we have challenges, we go to the school administration,” Pouliot says. “There’s a director of the CTE and she really helps us create our partnership. We work together as one big team.”

HRCU even attends open houses and orientations for incoming eighth graders, and credit union staff are regulars at events like fundraisers and sports games.

Concern for community is one of the industry’s cooperative principles, and it’s one HRCU emphasizes when working within the school. For example, after learning how many students rely on a local food pantry, the credit union and its student participants began making regular contributions, including organizing donations and physically helping stock it. Students also attend community events the credit union is involved in.

“They’re giving back to their peers, and they value it,” Pouliot says. “They embrace the community impact of the credit union, and that’s huge.”

Next-Gen Members. Next-Gen Relationships.

Early engagement can build relationships that last a lifetime. Callahan Webinars highlight real-world stories of credit unions that have turned youth programs into long-term member relationships. Explore the catalogue today.

Learn more about Callahan webinars

The post Inside An In-School Model That Links Classrooms With College And Careers appeared first on CreditUnions.com.

Top-Level Takeaways

• Digital tools and affordable platforms lower the accessibility barriers that often prevent members from starting an estate plan.
• Financial literacy programming and one-on-one coaching help members overcome the discomfort of talking about death, inheritance, and financial planning.
• Multi-generational banking under one institution benefits families, too, especially during transitions for caregivers.

It’s not called the Great Wealth Transfer for nothing.

According to research and consulting firm Cerulli Associates, $124 trillion in assets is set to shift hands by 2048. The lion’s share of that — as much as 81% — will flow from the Silent Generation and baby boomers to, mostly, Gen X and millennial heirs.

Tom Montilli, chief operating officer at Harvard Federal Credit Union ($1.2B, Cambridge, MA), says it’s a major life change set to impact members regardless of which side of it they’re on.

“We see a lot of responsibility in making sure our members are financially healthy and prepared for these major life events,” Montilli says. “That’s where we know the greatest need will be over the next decade, and we want to make sure we’re well-positioned to help them through it.”

There’s a common misconception that wealth transfer matters primarily when dealing with significant assets. According to data from the Federal Reserve, the average inheritance in the United States is $46,000 to $58,000 per household; however, large, wealthy estates heavily skew this figure. In reality, 70% to 80% of U.S. households never receive an inheritance. For households that do, the amount is often quite modest, with the bottom 50% averaging less than $10,000.

Still, according to Montilli, that money matters.

“Any inheritance deserves care and planning,” he says. “Something is always better than nothing.”

ESTIMATED WEALTH INHERITANCE THROUGH 2035
FOR U.S. HOUSEHOLDS | DATA AS OF 2023
SOURCE: CERULLI ASSOCIATES, U.S. CENSUS BUREAU, IRS, SOCIAL SECURITY ADMINISTRATION

What Keeps People From Making A Plan?

When it comes to estate planning, some communication is better than nothing, too. But that’s not happening.

A Fidelity Investment study released in 2025 concluded that a full 35% of parents 55 or older don’t want their children to know how much they’ll get. A 2024 Catalyst Advisory’s study estimates only 14% of American adults have had detailed, meaningful conversations about inheritance; 36% have never discussed it at all.

“Families don’t like talking about death or money, and combining the two is especially uncomfortable,” Montilli says. “There’s also the sense that it feels overwhelming or complex just to get started, and sometimes there’s a false sense of security like maybe someone else has taken care of it.”

Perceived complexity and stigma often prevent members from taking the first step, but a lack of dialogue can raise the risk of damaged relationships, financial confusion, and legal disputes over assets.

“They see this monumental task ahead of them, but even starting with basics like a power of attorney helps tremendously down the road,” Montilli says.

Ditching The Traditional For Digital

A few years ago, Harvard FCU addressed some of these barriers through a partnership with Gentreo, an online estate-planning platform founded in part by a Harvard alumni. The service helps users create, manage, and securely store the legal documents needed to organize their affairs. Instead of working directly with an attorney, users complete guided online questionnaires that generate legally valid estate-planning documents tailored to their them.

“The cost model allowed us to subsidize it for many members,” Montilli says. “Even at full price with the credit union discount, it’s about $100 a year, but depending on the relationship, that could be $50 or completely free. It was about making this affordable and lowering that barrier to entry by keeping things simple.”

Harvard FCU continuously promotes this service to its members. There was strong adoption in the beginning, but Montilli says there’s still a long ways to go.

“We want to do more through education and communications to help normalize the conversation and give people guidance on how to start the process,” he says.

Today, Harvard FCU’s partnership with Gentreo extends beyond its digital vault to in-person education resources. The credit union’s community engagement team offers several webinars and workshops about estate planning in general as well as what tools are available and how to use them.

Montilli says the credit union typically times these events around major holidays, when multiple generations are more likely to come together.

Expanding Investment And Advisory Services

Another key piece of Harvard FCU’s wealth transfer strategy is personalized investment services, which it offers through a broker-dealer partnership. Members can sign up for appointments both in-branch or through Zoom.

“With many large investment firms, if you don’t have a million dollars in invested assets, it’s hard to get true one-on-one attention or guidance,” Montilli says. “Again, our goal is to make these services accessible to all members. We believe someone with a $50,000 inheritance deserves the same care and attention.”

The chief operating officer says it’s important members know they don’t have to act too quickly. Priority No. 1 is simply securing the money. From there, advisors encourage them to take a breath and wait until they’re in a less emotionally charged place.

“That’s when you make better decisions,” Montilli says. “There’s no rush, but it is important to start.”

Connections For The Long-Term

With a growing number of families set to experience this shift in the coming years, Montilli says credit unions are in the exceptional position to “right-size” traditional estate planning so any member can benefit.

“This is where credit unions have always been strong: providing personal service and one-on-one guidance regardless of affluence,” he says.

An increasingly top-of-mind focus at Harvard FCU is encouraging multiple generations to bank together within the same institution. There are clear balance-sheet benefits to this, but it also means easier financial oversight, shared account access, and smoother transitions for caregivers. Montilli says the goal is to establish long-term trust.

“One advantage of being not-for-profit is that we don’t have to look at these conversations through a sales lens or quarterly quotas,” he says. “We’re thinking about relationships that span decades.”

The post The Great Wealth Transfer Is Also A Relationship Transfer appeared first on CreditUnions.com.

Top-Level Takeaways

• Investing in early education builds relationships before balances, but engagement is about user experience as much as curriculum.
• Low‑risk, experiential tools reinforce abstract instruction.
• Measuring long‑term impact requires patience and intentional analytics

Cardinal Credit Union is using fintech to improve how high school students learn about investing.

Cardinal ($358.5M, Mentor, OH), which teaches financial education in six area high schools, was on the lookout for more ways to engage with students. Part of its eight-week curriculum includes a module on investing. Rather than just teach the concepts in an abstract way, a fintech partnership allows some students to get hands-on experience.

Many credit unions offer investment resources aimed at young adults and mid-career members with an eye toward retirement planning and wealth building. Fewer programs tailor investment strategies to those just entering adulthood. That could be a mistake. A late 2022 study from CFA Institute Research and Policy Center found many young adults are already investing and eager for more opportunities.

Cardinal’s financial education curriculum targets high school juniors and seniors, and all students open an account with the credit union in the first week of the program as part of a module on money-management, budgeting, security, and more. Students also have access to the credit union’s app, and those students who are 18 years old can access the fintech Bits Of Stock through the app once the investment module begins.

The credit union’s debit rewards program offers rewards points, explains Cardinal CEO Christine Blake, which students can then use to buy small bits of stock through the app.

“We don’t want them to use their own money because it’s supposed to be a teaching moment,” Blake says. “This minimizes the risk because they’re using the reward points as they invest in these fractional shares.”

Cardinal has pre-selected a dozen or so stocks that users can select. Some are big names — think Apple, Amazon, and Disney — and some are companies headquartered close to the credit union’s market. Cardinal’s instructors provide classroom guidance on how to pick stocks and the students may also access tutorials built into the app.

Users don’t receive any dividends, since they’re only investing in fractional shares. Keeping users’ own money out of the equation and focusing on debit rewards points helps keep things low-risk while still hands-on.

Soft Launch

Approximately 1,000 students have open accounts through Cardinal’s financial education programs. About a quarter of those account holders are old enough to be eligible for investing, and only a portion of those are using Bits of Stock. Blake says that’s expected, as the credit union only rolled it out in early 2026.

In fact, the CEO says, “soft launch” is the better term. The formal rollout will come sometime this summer, when the full membership will gain access to the fintech.

Those who have used it so far have been enthusiastic, Blake adds.

Although would-be investors must be at least 18 years old to use a brokerage account, leadership is examining whether the credit union can still be in compliance if a student younger than 18 can use the service through a joint account with an adult. After all, Blake notes, many 17 year olds are also taking the class, and Cardinal wants them to have the same educational experience.

For the first year, Blake says, account holders can make investments exclusively through debit rewards points. Cash-based investments will follow, but leadership wants to wait at least one year to monitor usage trends before opening up that option.

It’s also planning to monitor longer-term analytics, including whether the investing service helps retain members and whether those accounts grow over time. It will take at least three years of data to have a representative sample, Blake says, and five years might provide a better view.

“We’ll be looking at different phases to set up our dashboards accordingly so we can track it all,” she says.

Lessons Learned

The experience has served as a reminder that there’s no substitute for a great user experience — with this product and all others.

“The students move quickly,” Blake says. “Everything has to move very smoothly for them to want to use a product. That’s across the board for all youth. They’re used to things working smoothly, quickly, and efficiently, with a great member experience.”

And, she adds, it’s been a reminder that young members really do want financial education.

“The educational piece can never be understated,” Blake says. “Just as we always suspected, there’s definitely a need and a desire for the education.”

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To answer that question, Affinity Federal Credit Union ($4.3B Basking Ridge, NJ) let go of long‑held assumptions that financial wellbeing looks the same for all members and that it must serve everyone everywhere. What it discovered was that helping members thrive was about focus, purpose, and meeting members where they actually are.

COO Pam Cohen joined Callahan & Associates for the year-end data Trendwatch webinar to walk attendees through Affinity’s evolution from a traditionally financial‑first institution to one that embraces wellbeing in all its forms. That shift began internally, with employees reconnecting to purpose and breaking down silos, and expanded outward into a holistic strategy centered on financial, mental, physical, career, and community wellbeing.

The result is a credit union that shows up differently for its members. From relief funds and food security initiatives to career workshops and mental health resources, Affinity has built an ecosystem designed to support members through real life. To do all this and more, the credit union must be disciplined saying no, testing ideas before scaling them, and having the patience to let long‑term impact take root.

For credit union leaders rethinking growth, relevance, and what “people helping people” looks like today, Affinity’s story offers a powerful reminder that when one part of wellbeing suffers, they all do. Luckily, credit unions are positioned to respond.

Watch Cohen’s presentation today.

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Top-Level Takeaways

• Research, and early results from Harbor Beach Community Schools, show that small, early deposits can meaningfully influence whether students save for life after high school.
• In Harbor Beach, the local school system, a community foundation, and Frankenmuth Credit Union share ownership of CSA outcomes, with Frankenmuth positioned as an active partner, not just a place to park funds.
• For Frankenmuth, the return isn’t immediate balance‑sheet lift but the possibility that a single early relationship becomes a lifelong one.

For many students, the path after high school is shaped more by affordability than ambition. This applies to both college and trade school programs.

Research suggests it doesn’t take much to improve that trajectory. A University of Kansas study found students from moderate- and low-income families who had saved up to $500 were three times more likely than their peers to enroll in a post-secondary program.

In Michigan, a public-private partnership between the Huron County Community Foundation, Harbor Beach Community Schools, and Frankenmuth Credit Union ($1.5B, Frankenmuth, MI) is helping every kindergartener and first-time student in Harbor Beach Community Schools build a savings for post-high school plans.

“To have that little nudge to take that next step, bet on yourself, and maybe give yourself a different set of circumstances — the credit union could definitely get behind that,” says Jacob Purman, who was at that time the community development coordinator leading the effort on behalf of the credit union.

Launched in January 2025, the Harbor Beach Community Schools Storrs Family Children’s Savings Accounts Program provides every student with a $100 starting deposit plus smaller deposits every year thereafter. Parents, students, and community members have the option to make additional contributions at any time. Upon graduation, students can withdraw their balance to put toward college, trade school, work equipment, or other post-high school ambitions.

As of December 2025, 592 of these accounts held more than $75,000 total. With only two opt-outs, the program touts 99% participation.

A Partner, Not A Place To Park Cash

Although the program launched in 2025, its roots date back to 1951. That’s when a local woman named Lorraine Storrs graduated from Harbor Beach. She believed deeply in her community and the role of education. A $553,000 gift from the Storrs’s estate in 2024 established the Storrs Family Fund. From there, the school district partnered with the Huron County Community Foundation to create a permanent endowment and child savings account model for every student — present and future.

That’s when Frankenmuth Credit Union submitted a proposal to become the program’s financial partner.

“They didn’t just want somebody who was going to handle the accounts,” Purman says. “Theoretically, any financial institution can find a way to make it work. They wanted to go above and beyond.”

The credit union was already hosting reality fairs for high school students, and it had opened a branch in Harbor Beach in 2024. As financial partner, Frankenmuth built financial education into the CSA program’s infrastructure. Today, every Harbor Beach Community Schools teacher has access to the online platform Banzai, which includes courses, calculators, articles, and printable materials. Credit union staffers provide in-person classroom presentations, and the credit union still hosts reality fairs bi-annually for juniors and seniors.

Frankenmuth and its CSA partners use digitized brochures to communicate with parents about the Harbor Beach Community Schools CSA program.

Frankenmuth Credit Union gives students take-home piggy banks as part of its bi-annual deposit days at area schools and encourages them to save money at home to bring back for future deposit days.

Flexibility Is Essential

To provide the child savings accounts, Frankenmuth design a brand-new product that required new workflows, manual processes, and ongoing coordination with compliance.

“If we weren’t flexible, this wouldn’t have worked at all,” Purman says. “We went into it with open ears, listening to the wishes of the school and the Community Foundation. Then, we got creative to find a way to make it work.”

The end result? A custom, hybrid CD savings model. The endowment deposits $100 for first-year students and then contributes $30 each year after for returning students; plus, accountholders earn interest on the balance. Students pay no fees or minimum balances to maintain the account; however, they cannot access the funds until after high school. If a student leaves the district, their account remains open and they can access the funds after graduation, but they do not receive additional contributions during the years they are no longer in the district. Following graduation, all student accountholders must submit a request for the funds. And when it comes to those annual deposits from the endowment, the program’s founding documents allow the partners to increase contributions over time as the endowment grows.

“If there’s more interest funds to contribute a higher amount, they have the freedom to up that,” Purman says.

For now, the program partners decided the initial deposit of $100 was meaningful but also preserved long-term sustainability.

“They wanted it to be enough that it felt like it was something,” Purman adds. “$100 felt like a good starting point. One hundred dollars is something to everybody.”

Students, families, and community members can make additional contributions at any time by visiting Frankenmuth’s Harbor Beach branch. Making a deposit requires only knowing a student’s name and grade.

Purpose Over Profit

For students who can’t make it to a branch, Frankenmuth and Harbor Beach Community Schools also host in-person Deposit Days on campuses twice a year.

“On the very first deposit day, there was a young man who had some pocket change he was counting,” Purman says. “The superintendent saw him, got a couple bucks out of his own wallet, and told us to put that in the student’s account, too. It wasn’t a significant contribution, but I thought that was a neat gesture.”

That first event in January 2025 generated $116.87 in CSA savings. The most recent deposit day totaled $2,536.

“It started with kids saying, ‘Hey, I’ve got a nickel in my pocket,’ and now we’re seeing much more meaningful participation,” Purman says. “There are a couple of things happening that show the program is taking hold in the community.”

For example, program leaders have scheduled a deposit day to coincide with a Grandparents’ Day in April to encourage multigenerational involvement. Program leaders are also talking with local businesses, encouraging them to contribute small amounts to student accounts. Over time, leaders hope the program will continue to bring people together to invest in Harbor Beach’s next generation.

So far, multiple students have opened personal accounts through Frankenmuth alongside their CSA. According to Purman, because this program is primarily purpose-driven, not balance-sheet-driven, it’s difficult to quantify program-related growth and activity. However, that doesn’t mean there’s not a clear return.

“You don’t know if people do their other banking with us because of doing something like this, but you don’t have to go far for the ROI to be there,” he says. “I always tell people that if we have just one student who ends up doing their banking with us for life, if one good relationship comes from it, that’s enough to cover it.”

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New data from Vanguard shows retirement readiness actually declines by generation, with baby boomers being the least prepared. That’s a troubling trend for credit unions serving older members. Meanwhile, younger workers are pulling ahead thanks to smarter plan design, escalating savings rates, and earlier access to quality investments.

RETIREMENT READINESS BY GENERATION
FOR U.S. HOUSEHOLDS|DATA AS OF 11.04.2025
SOURCE: VANGUARD U.S. RETIREMENT OUTLOOK

Strategic Insights

• Just 40% of baby boomers are on track to maintain their standard of living in retirement. For those who fall short, the gap averages $9,000 a year, which represents nearly a quarter of retirement spending needs.
• By comparison, 47% of Gen Z is on track to maintain their standard of living in retirement. That gap is $3,000 a year.
• It’s a worrying sign that no cohort has a majority of members ready for retirement, pointing to a systemic readiness gap rather than a planning issue prevalent among individual generations or people.

Credit Unions And Retirement Support

• Helping baby boomers, and the generations that follow, with financial planning and education can go a long way toward moving the needle of retirement preparedness. Specially designed products and services don’t hurt, either.
• In 2022, InTouch Credit Union($808.5M Plano, TX) expanded services for those nearing or in retirement. “A common misunderstanding is that financial planning for retirement ends the day you stop working,” says CEO Kent Lugrand. “In reality, it continues long after.”  The credit union uses a variety of channels — such as seminars, one-on-one counseling, and digital resources — to deliver information in a way that works for all members. Read more.
• In 2025, Golden 1 Credit Union ($21.1B, Sacramento, CA) was named No. 1 on Money.com’s “Best Banks and Credit Unions for Seniors.” Its Golden Prestige package for members 62 and older includes free checks, no monthly maintenance fees, up to 10 free cashier’s checks a month, access to a notary, and 30,000 surcharge-free ATMs. Read more.
• Michigan Legacy Credit Union ($214.4M, Wyandotte, MI) works to make sure members keep their hard-earned savings with a program that helps spot potential for financial exploitation before fraudsters can wipe out accounts. Read more.
• Hanscom Federal Credit Union ($1.8B, Hanscom AFB, MA) offers fun, free interactive challenges via an escape room concept that bring financial concepts, like how to plan for retirement, to life. Read more.

Don’t stop here. Retirement readiness isn’t just about saving more, it’s about helping members feel supported and confident in the decisions they make over time. The Member Engagement & Financial Wellbeing Consortium, powered by Callahan & Associates and Gallup, equips credit unions to take mission-aligned, data-informed actions that change member perceptions and behaviors — driving stronger member financial wellbeing and sustainable, profitable growth for the credit union. Schedule a conversation with Callahan’s program facilitators to learn more. Request a conversation.

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