Financial Education Is More Than a Service — It’s a Strategic Member Growth Tool
- Jennifer Vickery
- Jul 1
- 5 min read
Guest Editorial by Jennifer Vickery, Founder & CEO of National Strategies Public Relations
Credit unions have a distinct competitive advantage that national banks and fintech companies cannot replicate: a strong, mission-driven commitment to their members. At the core of this commitment is financial education, which is not treated as a secondary service or merely a checkbox for community outreach. Instead, it serves as a fundamental growth strategy that promotes member acquisition, retention, and long-term loyalty.
Too often, financial education is treated as a “nice to have.” A quarterly workshop here, a budgeting handout there. But when integrated thoughtfully, it becomes a powerful lever that touches every aspect of the member lifecycle. Moreover, it is one of the most compelling and authentic messages that credit unions can promote in their communications and branding efforts, offering a clear competitive advantage.
The Real Competitive Advantage
Credit unions compete not based on their size or marketing budgets but on their purpose. Their not-for-profit structure and member-first approach are often highlighted as core values, and financial education exemplifies this commitment. When a credit union teaches individuals how to build credit, prepare for homeownership, or manage debt, they are doing more than just providing information; they are caring. They are walking alongside their members, offering support and guidance rather than acting solely as lenders or account holders focused on earning commissions from products.
From a public relations standpoint, this is gold. Financial education stories are inherently human. They showcase transformation, empowerment, and community impact. These narratives resonate with both local media and broader audiences, allowing credit unions to reinforce their mission while building brand visibility. Plus, these stories help differentiate them from profit-driven institutions that might offer financial education content but lack the authenticity to make it meaningful.
The Elusive Younger Member
Today’s financial consumers — especially younger generations — don’t just want a place to put their money. They want financial partners who help them grow, plan, and succeed. Credit unions that lean into this demand with robust, accessible education programs are positioned to become the go-to resource for these members.
But the value isn’t limited to initial engagement. Financial education also builds “stickiness.” Members who feel informed and supported are more likely to deepen their relationship with the credit union. They’re more inclined to open additional accounts, seek financial advice, or return for future loans (and tell their friends) — all key drivers of lifetime member value.
While many credit unions primarily serve a member base that consists of Millennials and older generations, future growth will depend on their ability to understand and engage with Gen Z and even Generation Alpha. These younger generations are focused on establishing good habits, building credit, making informed decisions, and aligning with organizations that reflect their values and purpose. They also expect easy access and the latest technology. That’s another large reason financial education is so important.
Informal Is Important
Financial education doesn’t have to be formal to be transformative. Yes, workshops, seminars, and digital tools play a valuable role — but some of the most powerful moments happen across the teller window or during a quick phone call. When a credit union’s staff is trained and empowered to look out for members’ financial wellness, education becomes a daily practice, not a scheduled event.
One of our clients recently shared a story that perfectly illustrates this. A member had been coming into the branch every week to make payments on his personal loan. Week after week, staff processed the transaction (thinking this was likely predatory lending) — until one employee finally asked, “Why are you making weekly payments in person?” That question opened the door to a much larger conversation.
The employee took time to explain how the member could reduce their interest burden, switch to a more manageable monthly payment schedule, and ultimately owe less over time (the member was paying without making a dent in their debt – week after week). With just a few minutes of personalized guidance, the credit union helped the member restructure a new loan in a way that worked better for their life. There were no seminars or webinars involved—just genuine concern and smart financial advice, which ultimately changed the member’s financial trajectory.
This is what financial education looks like in action. It’s not just a department. It’s not just content. It’s a mindset embedded in the credit union’s culture; one that says, we’re here to help you succeed financially, every day, in every interaction.
When members feel that kind of care, when they know their credit union sees them as a whole person and not just a loan number, loyalty follows. These micro-moments become one of its most effective tools for long-term member growth and retention.
Taking Action
For financial education to become a true growth tool, it can’t sit on the sidelines. It must be woven into the credit union’s strategic plan, marketing efforts, and member experience design. That might look like:
Embedding financial literacy resources into digital banking platforms.
Training frontline staff to offer budgeting or credit tips during member interactions.
Hosting workshops in partnership with local schools, employers, or nonprofits.
Creating compelling content, such as blogs, videos, or social media posts that answers members’ real questions.
Sharing real member success stories in media pitches to show the impact of educational efforts.
Credit unions doing great work in financial education must also tell that story clearly and consistently. Too often, these efforts fly under the radar because they’re treated as community outreach rather than strategic messaging. A well-executed PR strategy can elevate financial education from a side project to a front-page feature. Local media love stories about impact and empowerment, and few institutions are better positioned to tell those stories than credit unions.
It’s also crucial to share outcomes, not just activities. Instead of saying, “We hosted three workshops,” say, “Eighty percent of attendees reported feeling more confident about managing their debt.” Show transformation. Quantify impact. Highlight the human side of financial literacy, and connect it back to the credit union’s core values.
As the cost of living continues to increase and consumer skepticism rises, trust will become increasingly important. Financial education helps build this trust. It demonstrates that a credit union is not merely focused on selling products; it’s committed to supporting members in navigating life’s challenges and opportunities with knowledge and confidence.
Credit unions that view financial education as a strategic growth engine and invest in both the delivery and the storytelling will position themselves not just as financial institutions, but as indispensable allies in their members’ financial journeys. That’s a differentiator big banks simply can’t match.