Wednesday, July 06, 2011 10:23:00 AM
NEW YORK - Thanks to New York University Federal Credit Union's "Making Ends Meet" financial education program, low-wealth students of New York University are better equipped to reach life-changing goals. Since starting the program in the 2010-2011 school year, over 5,000 students have attended one of the credit union's seminars. New York University FCU (NYUFCU) has also seen their delinquency and overdraft fees decrease as a result of the program.
NYUFCU received a grant from the National Credit Union Foundation (NCUF) last year to launch their "Making Ends Meet" initiative. The New York Credit Union Foundation also helped fund NYUFCU's program. "Making Ends Meet" leverages targeted group financial education using National Endowment for Financial Education (NEFE) curriculum.
"Ironically, few college students receive good financial education," said Christopher Morris, NCUF Director of Communications. "Credit unions are the ideal institution to help students achieve financial freedom and NYUFCU's program is evidence of that."
The "Making Ends Meet" program helps students continue their pursuit of higher education and develop financial skills that produce behavioral change to reduce and prevent account overdraft and loan payment delinquency. This also helps mitigate risk at the financial institution.
NYUFCU's innovative program is one of the first to include classroom style learning and one-on-one coaching in tandem with waived fees for participation, while working within the lifestyle of the college student. Finally, by working with NYU, the program helps thousands of students keep from obtaining high-interest debt and credit cards and being forced to drop out of school.