In partnership with Visa Inc., the MSU Federal Credit Union will provide Michigan State University $250,000 in funding for the next eight years to underwrite the Financial Peer Education Program, which will be available to MSU students beginning in fall 2015.
MSUFCU will develop the financial education curriculum, which will include budgeting in college and after, understanding credit and identity theft. In addition, peer educators will provide one-on-one sessions to assist students in establishing their budgets.
“For most of our students, coming to college is an induction into adult independence and its responsibilities,” said MSU Provost June Pierce Youatt. “The opportunity afforded through this generous gift from Visa and MSUFCU will help students gain skills and understanding that will be invaluable to them, whether they are just beginning their college experience or getting ready to graduate and begin their professional careers.”
In addition to this new financial education program, MSUFCU also offers Financial 4.0, a financial website geared toward college-age students. The site houses blogs on financial topics, financial education videos, free financial resources and contests, providing students with the opportunity to improve their financial literacy.
“We’re very pleased to have the opportunity to enhance our partnership with MSU by creating a bigger financial education presence on campus,” said April Clobes, president and CEO of MSUFCU. “We are pleased to provide students with the financial knowledge and resources that will help them achieve their goals and dreams — during college and beyond.”
For 20 years, Visa has been a private-sector leader in developing innovative, free programs that help people effectively learn the fundamentals of personal finance, including budgeting, saving, responsible spending and the wise use of credit. Visa’s flagship financial literacy initiative, Practical Money Skills for Life, is a free program to help parents, teachers, students and consumers of all ages learn the essentials of personal financial management.
MSUFCU is the world’s largest university-based credit union, offering a full range of personal and business-related financial services to MSU and Oakland University faculty, staff, students, alumni association members and their families worldwide in addition to a variety of select employee groups. Founded in 1937 by a few MSU professors and employees, MSUFCU now has 14 branches, more than 197,000 members, more than $2.8 billion in assets and more than 642 employees.