LoginMarch 31, 2021
Over the last 50 years, LUSO Federal Credit Union has advocated for the financial health and wellness of our members. To mark April’s designation as “National Financial Literacy Month,” we are highlighting the importance of financial literacy and teaching members of all ages how to establish and maintain healthy financial habits.
Financial Literacy for Local Youth
This commitment to helping members reach their financial goals starts with local youth. For over a decade, credit union staff have participated in school banking at the elementary and middle schools in Ludlow, Wilbraham and Hampden, encouraging young people in the communities to establish a strong financial foundation.
Even during the pandemic when most of the local area schools were closed, LUSO continued to encourage students to save regularly by stopping by one of our branch locations to make their weekly deposit. With St. John the Baptist still in school, we have been able to offer school banking to their students, although we’ve amended the program so there are no personal interactions with the students themselves.
Banzai Financial Wellness Center
In addition to its School Banking program, LUSO offers a digital Financial Wellness Center through a partnership with Banzai, to help individuals master strategies in investing, saving, credit, and more with interactive articles, coaches, calculators and online games. Visitors to the Financial Wellness Center will find an interactive library of topics to cover most pressing financial concerns, including life changes, budgeting and saving, housing, retirement, taxes, insurance, running a business and investing. The site also offers a “choose your own adventure” game that presents users with dilemmas and puzzles tailored to their age and situation.
"LUSO Federal Credit Union plays an important role in our community by ensuring that our members have access to financial literacy programs and information that provide the knowledge necessary to make responsible decisions about their personal finances," said Jennifer M.G. Calheno, president and CEO of LUSO. "Our goal is to provide members with the tools they need to build a strong financial foundation for their futures."
Within the next month or so, LUSO will launch Credit Sense, a free credit monitoring service that provides instant credit score access and improvement tips, savings opportunities, educational tools, credit report monitoring alerts, and more, all through LUSO’s online and mobile banking platforms. Access LUSO’s library of financial articles and interactive games or learn about our In-School Banking Program. For more information about LUSO Federal Credit Union or to become a member, call a member service representative at (413) 599-9966 or visit lusofederal.com.