GAHANNA, Ohio–KEMBA Financial Credit Union has introduced a new education and awareness initiative called KEMBA Cares.
According to the credit union, Kemba Cares is a three-prong approach to empowering members, associates, and the general public with financial literacy resources, product knowledge basics and cyber security tips to help them make educated decisions regarding their financial well-being.
“Financial health is so important, and it doesn’t necessarily get the attention it should in the banking industry,” said Mark Decello, KEMBA’s president and CEO. “As a not-for-profit financial cooperative, we believe it’s in the best interest of our members, general public and associates alike to have tools at their fingertips to help make the best financial decisions, ultimately improving their quality of life.”
In announcing the program, KEMBA pointed to a recent Standard & Poor’s Global Financial Literacy Survey that found just 57% of U.S. adults are considered financially literate, along with a 2018 Northwestern Mutual study that found 44% of people surveyed cited money as their largest personal concern.
“We want to be the difference,” Decello said. “We want to do our part to help reverse these statistics so people feel comfortable taking control of their finances.”
KEMBA said it has partnered with two organizations on the initiative: GreenPath Financial Wellness, which is a nationwide financial counseling and education organization, as well as EverFi, an education technology company. As a result, various videos, worksheets and articles are available on KEMBA’s “Learning Station,” a portion of the CU’s website devoted to this initiative.
“The complimentary resources available range from budgeting tools and worksheets, to learning about specific products such as auto loans and mortgages, to differences between a bank and credit union, and everything in between,” Decello said.
In addition, KEMBA said it is committed to providing cyber security tips, such as teaching children to be safe online, how to guard against phishing attacks, protect one’s identity and more.
“It’s our goal to educate and inform so people don’t fall victim to cyber attacks that could result in financial difficulties for years to come,” said Ken Blevins, VP-information technology. “Each year scam artists and identity thieves steal billions of dollars from unsuspecting consumers, protecting KEMBA members is one of our top priorities.”
Tools For Employees
KEMBA said it has armed its 250 employees across Central Ohio with these tools to ensure their own personal financial success, as well.
“The financial health of our associates is a top priority for us as a management team of the credit union,” said Shernette Henry, VP-human resources. “In an era when credit card debt has reached all-time highs and student loan debt is ever- increasing, our goal is to lessen the stress on our employees with the resources available to them,” she added.