The Wrap: CU FinHealth24

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CU FinHealth 24: Empowering Credit Unions for Financial Well-being

The eighth annual CU FinHealth24 event, held April 29 to May 1 at the Gaylord Rockies Resort and Convention Center in Aurora, Colo., brought together nearly 200 financial education practitioners from credit unions and partner organizations nationwide.

The event was co-hosted by the Cornerstone Foundation, California and Nevada Credit Union Leagues, and National Credit Union Foundation.

Over three days, attendees delved into strategies for improving financial well-being at the individual-member level, reflecting the credit union movement's evolving philosophy. The conference provided a platform for practitioners to share insights, explore innovative approaches, and engage in meaningful discussions about financial health.

Commitment to Helping Credit Unions Level Up

Credit unions have been committed to financial health goals for years, continuously assessing their impact, addressing specific financial well-being issues, and taking measurable actions. The progress made in this area was highlighted throughout the event, showcasing the importance of a holistic approach to financial health that includes economic, lifestyle, and health considerations.

Attendees learned the significance of integrating financial well-being into credit union services, emphasizing the need for a comprehensive understanding of members' lives. The conference underscored the ongoing responsibility of credit unions and their partners to cultivate financial health at a micro level, benefiting individual members and communities.

Cornerstone Foundation Executive Director Courtney Moran said it was “incredibly inspiring” to be among so many credit union professionals who share the same passions.

“From understanding how to successfully mine your data to sharing meaningful financial coaching tips and techniques, the event offered crucial takeaways for credit unions in various stages of their financial wellness journeys,” Moran said. “I am honored to be part of an event that ignites such passion.”

Innovative Strategies and Collaborative Efforts

CU FinHealth24 featured a range of breakout sessions, panel discussions, and interactive activities designed to equip attendees with practical tools and knowledge. Key sessions included topics such as leveraging data to convince credit union leadership of the return on investment in financial well-being, understanding the link between financial health and demographics, and developing financial well-being initiatives from the ground up.

One session from day two, "What Do Small Dollar Loans and Nuclear Submarines Have in Common?" led by QCash CEO Seth Brickman, explored how credit unions can use technology to support financially distressed members. This session highlighted the importance of providing accessible financial solutions for members facing unique challenges.

Fostering Inclusion and Empathy

The event also emphasized the importance of inclusion and empathy in financial services. An inclusion exercise led by Samira Salem, vice president of diversity, equity, and inclusion for America's Credit Unions, and Zach Christensen, executive director of CU Pride, encouraged attendees to develop solutions for diverse member needs. Participants explored ways to ensure economic security and financial access for various member groups, including single-women households and gig workers.

A panel of college students discussed the role of credit unions in educating younger generations about financial literacy. The discussion highlighted the potential of credit unions to provide financial education through innovative methods such as app gamification and summer programs.

Taking Action and Building Community

The final day of CU FinHealth24 focused on translating ideas into actionable strategies. Attendees shared examples of successful financial well-being initiatives and discussed the importance of collaboration and support from leadership. Emphasizing the need for achievable financial health goals, participants explored ways to build member rapport and engage hard-to-reach populations.

The event concluded with a call to action encouraging credit unions to leverage resources like the National Credit Union Foundation's FinHealth Hub to implement financial well-being strategies effectively.

Thank You to Our Sponsors

The success of CU FinHealth24 was made possible by the support of various sponsors. Presenting sponsors included Attune and VISA, while focus sponsors were the Community Impact Fund, PSCU + Co-op Solutions, iGrad Enrich, and Zogo. Educational sponsors included Knowledge of Financial Education (KOFE)/Consolidated Credit, Green Path, Credit Mountain, and Cashy. Balance, Broke to Blessed, Far Well, Integra, Life Cents, Salus, TruStage, and Zest were contributing sponsors.

CU FinHealth24 demonstrated the credit union industry's collective commitment to enhancing financial well-being for all, inspiring attendees to continue their efforts in driving positive change within their communities.