Financial Literacy is extremely important to Silver State Schools Credit Union (SSSCU) and are committed to providing free financial education for all members as well as the community. SSSCU believes, when Financial Literacy is taught at an early age, positive financial habits can be both formed and fostered. With financial education knowledge, individuals can gain a much better understanding of their complete financial picture. This includes having adequate savings dollars in their accounts, ensuring they obtain and build the proper credit profile, and building a proper investment portfolio. The end goal is to achieve financial success.
“Silver State Schools Credit Union helps members navigate their life’s journey with financial solutions–at every stage of life,” said Scott A. Arkills, president and CEO of Silver State Schools Credit Union. “Credit unions are essential for the community and the community they serve. What ultimately makes credit unions different, though, is our dedication to member service and to fulfilling our social purpose of ‘people helping people.’ Our valued members are the heart of everything we do and it is rewarding to grow with their families, and to share savings and spending habits to the next generation.”
Our members’ financial journey begins with a “Junior Account.” Once a child has been issued a social security number, a parent or guardian may open an account in their child’s name. This is important as parents can establish their child’s primary savings account at an early age, begin saving for their child’s higher education needs, and as the child grows, establish solid financial habits.
Adult membership options include Regular Membership or the “MYAccount Savings and Checking,” which is designed for young adults aged 18 to 25. For young adults, having access to funds that allow them to pay for college expenses, living and transportation costs, and/or day-to-day activities is important. Young adults should consider short-term goals, such as buying their first home or paying off college debt, as well as long-term goals, such as planning for retirement.
Silver State Schools Credit Union understands the value of being well informed regarding financial literacy and providing that kind of information at an early age. That is why SSSCU offers financial literacy courses through its Money Moves program at various elementary schools, middle schools, and high schools in southern Nevada, as well as, providing in-person financial literacy lessons.
In April 2021, Arkills, presented a course on “The Importance of Savings,” to the Girls Athletic Leadership School (GALS). The course was dedicated towards teaching these sixth, seventh and eighth grade students the value of building early savings and earning compounded interest.
SSSCU has also partnered with the Clark County School District (CCSD) and opened an in-school branch at Southeast Career Technical Academy (SECTA). The SECTA “Roadrunner Branch” opened in September 2021 allowing students, faculty, and staff a place to manage their banking needs, as well as teaching eight selected students about a career in the banking industry. This integration allows SSSCU to reach youth and guide them on the path to financial success.
SSSCU is also working on developing financial literacy courses for higher education institutions in southern Nevada directed towards graduating seniors, to prepare them for the various financial decisions they will face after graduation.
Silver State Schools Credit Union has also partnered with two financial literacy programs so our members can obtain the financial education they need. The “Money Moves” Financial Education Center is a free financial education program that provides an engaging learning experience through a series of online interactive courses. “BALANCE” financial education and resources provide members with free access to online financial courses, live webinars, and debt management courses, and access to confidential, no-cost financial counseling services, which are also available in Spanish.
In 2022, Silver State Schools Credit Union will continue to place emphasis on financial literacy both at the K through 12 level of education as well as to the higher education community. SSSCU will provide members with additional access to educational financial literacy webcasts on its website as it expands its offerings throughout the calendar year. One of the expanded goals of the in-school branch program is to provide increased financial literacy awareness to parents to help provide a solid foundation of financial literacy at home so parents can assist in ensuring good financial habits.
Through its relationship with Vegas PBS and the CCSD Partnership Office, Silver State Schools Credit Union will be providing financial assistance to educational programs for the purpose of increasing financial literacy awareness in southern Nevada.