18 THE NAFCU JOURNAL JULY–AUGUST 2022 young adult population. Credit unions can look to the NCUA's YouTube channel for shareable videos that are short, to-the-point and provide actionable tips. “[Young adults] experience their first job or move away from home to attend college, and are making financial decisions for the first time,” he said. “If they know how to access financial institutions and know how to make these decisions, they’ll make fewer mistakes.” He added, “And, if they do make mistakes, they will be able to recover more easily, learn and make better decisions in the future.” NCUA Initiatives to Watch NCUA's Advancing Communities through Credit, Education, Stability and Support (ACCESS) initiative is one way the agency is working to assist credit unions on their quest to provide financial services and financial literacy resources to communities across the country. “Board Member Rodney Hood started the ACCESS initiative, the basis of which is focused on how to provide more services and better services to the unbanked and the underbanked.” Harper explains one of the goals of the initiative is also to help credit unions understand how they can remain competitive and to make a credit union charter easier to obtain. “We've just announced that we are shortening the amount of time and the number of steps it takes to get a credit union charter,” said Harper. “We're also looking at how to change field of membership rules to allow credit unions to serve more members.” NAFCU is supportive of legislative efforts to expand credit union field of membership to underserved areas and has urged Congress to act on it. NCUA Resources for Financial Literacy 1.The NCUA Financial Literacy Resource Center [https://www.ncua.gov/consumers/financial-literacy-resources] is a compilation of all resources and tools that credit unions can use to build financial literacy programs, provide community education or share with members who ask for information on specific topics. Two of the interactive financial education tools and games that appeal to young children are: ■ Hit the Road [https://www.mycreditunion.gov/financial-resources/hit-road-financial-adventure] is a cross-country trip with friends to collect experience badges and budget for gas, food, supplies and surprise expenses. ■ World of Cents https://www.mycreditunion.gov/financial-resources/world-cents is a fun and engaging, kid-friendly game for ages 5 and up designed to help teach the value of money through the concepts of earning, saving and spending money, while incorporating basic math concepts. 2.The NCUA consumer website, MyCreditUnion.gov [https://www.mycreditunion.gov/] includes information on home ownership, credit cards, going to college and other topics in an easy-to-read format. 3. A new Consumer Tips page [https://www.mycreditunion.gov/financial-resources/consumer-tips] offers short videos that answer questions most frequently asked of the NCUA Consumer Assistance Center. 4. NCUA’s YouTube Channel [https://www.youtube.com/user/NCUAchannel/playlists] includes a wide range of educational and NCUA news videos. 5. NCUA’s Advancing Communities through Credit, Education, Stability and Support (ACCESS) initiative. “Far too many Americans are unprepared for an emergency financial need,” said Harper. “As an agency, as a society, as a credit union system, we need to help Americans understand why they need reserves and help them to figure out how they can build them. Credit unions can help members get those basics for their financial lives and need to help them get it earlier in their financial life.” References 1. National Financial Educators Council National Financial Literacy Test Results. https://www.financialeducatorscouncil. org/national-financial-literacy-test/ 2. Smith KA. These States Now Require Students To Learn About Personal Finance. Forbes. April 1, 2022. https://www.forbes. com/advisor/personal-finance/statesmandating-personal-finance-in-school/ 3. Tallo. Tallo Data: Generation Z + Personal Finances. March 11, 2021. https://tallo.com/ blog/tallo-data-gen-z-personal-finances/
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