Purdue Federal Credit Union is taking a proactive approach to financial education by launching the “Financial Foundation Series: Beyond Graduation.” The three-video series is designed to empower graduating high school students and their parents with essential financial knowledge. The series plans to make its debut in late May or early June.
“It is important for students to start a foundation of budgeting and understanding credit at a young age,” said Molly Milcarek, community relations specialist at Purdue Federal. “We are helping students establish good financial habits so that, no matter their career path, they know how to budget.”
The Financial Foundation Series will address misconceptions about three widespread topics: the importance of budgeting, understanding credit, and filling out the Free Application for Federal Student Aid (FAFSA). These topics were carefully selected to equip young adults with the tools necessary for navigating the complexities of personal finance. The videos in the series are like a casual fireside chat that aim to connect parents and students with a financial expert. The videos are only about 10 minutes in length and are designed to be easily understood by viewers.
“We know it’s hard to get the conversation rolling when it comes to finances between parents and students because parents don’t know exactly what to say,” said Milcarek. “We have noticed over the years that they are coming to college with their accounts established. With our relationship with the local schools, we have the perfect opportunity to teach and present financial information to students and parents alike.”
By partnering with educational institutions, the credit union aims to provide students with the resources necessary to make informed financial decisions and achieve their educational goals. Purdue Federal intends to place the series into the hands of parents and students in the fall and again in the spring to reaffirm their understanding of credit and budgeting.
“I have been working to coordinate with principals and teachers to ask them to help us with getting this information out,” said Milcarek. “There is a new financial literacy mandate in Indiana that has passed and we know financial education will be required in the future. My role is to offer these pieces to schools and expand ideas through the Financial Foundation Series.”
While Purdue Federal is based in the Greater Lafayette, Northwest Indiana and La Porte areas, it offers nationwide services and access throughout the United States.
“Students can start and establish their account here with us before they graduate, and they can take our resources and credit union network with them wherever they go,” said Milcarek.
The Financial Foundation Series is only the beginning for Purdue Federal’s continued commitment to financial education. Based on feedback from students, parents, and educators, the credit union plans to expand the program and add new topics to address the evolving needs of young adults. The Financial Foundation Series is a testament to Purdue Federal’s goal of empowering the next generation of fiscally-responsible community members.
For more information about the upcoming series, or additional information about Purdue Federal Credit Union, visit purduefed.com. Once live, the video series will be available at purduefed.com/BEYOND-GRADUATION.
