Empowering the Next Generation with Financial Literacy Resources

Affinity Federal Credit Union Teams Up with Greenlight

Affinity Federal Credit Union has recently embarked on a significant partnership with Greenlight Financial Technology, Inc., aiming to enhance financial literacy for families and empower the younger generation. By providing Affinity members with free access to Greenlight's innovative family finance app, the credit union is committed to equipping children and teens with essential financial skills necessary for future success.

Understanding the Need for Financial Education

A survey has revealed that a staggering 91% of kids and teens recognize the importance of financial knowledge to realize their life goals. Moreover, 94% of parents share this sentiment. Despite this, the reality is stark; only a small percentage of states mandate financial education at schools, leaving many young individuals without the tools they need to make sound financial decisions. The National Financial Literacy Test indicated that teens are falling short, scoring an average of just 64%, evidencing the need for accessible financial education resources.

Challenges Parents Face

Parents face many challenges when teaching their children about finances. Over 81% express that these lessons are the most difficult to impart. They long for more effective educational tools and resources to aid their children in becoming financially proficient. Affinity's collaboration with Greenlight seeks to address this gap effectively.

Features of the Greenlight App

The Greenlight app is designed to make financial education engaging and practical. It offers a debit card specifically for children and teens, promoting earning, saving, giving, and spending wisely, all under parental guidance. Parents can leverage the app's functionality to send money instantly, automate allowances, manage chores, and set spending limits, all while receiving real-time notifications of their child's transactions.

Transformative Learning Through Gamification

Greenlight’s Level Up™ feature further enhances the learning experience, providing an engaging in-app financial literacy game. This feature delivers a structured curriculum, educational challenges, and rewards to keep children motivated and eager to learn more about managing their finances effectively.

Empowerment and Financial Confidence

“Empowering children and teens with financial knowledge goes beyond merely understanding money; it is about instilling confidence, enabling informed decision-making, and laying the groundwork for long-term success,” remarks Grant Gallagher, AVP of Financial Wellbeing and Brand Communications at Affinity Federal Credit Union. By offering these resources at no cost, Affinity aims to help families together build pathways to achieving financial wellbeing.

Affinity members can easily access their free Greenlight subscription by registering through the appropriate channels and linking their accounts for funding.

About Affinity Federal Credit Union

A leader in providing comprehensive financial services, Affinity Federal Credit Union operates with a dedication to member needs and community enrichment. As the largest credit union based in New Jersey and ranking within the top 2% nationally in asset size, Affinity is focused on creating financial solutions that help individuals realize their dreams.

For detailed information on services, members can visit Affinity’s official website.

Frequently Asked Questions

What is the partnership between Affinity and Greenlight?

Affinity Federal Credit Union has partnered with Greenlight to provide members with free access to a family finance app designed to enhance financial literacy among children and teens.

What features does the Greenlight app offer?

The Greenlight app allows parents to send money, automate allowances, manage chores, and set spending limits while providing children with a debit card and educational resources.

Why is financial education important for kids?

Financial education is vital for children as it prepares them for future responsibilities and helps them develop necessary money management skills.

How can Affinity members access the Greenlight subscription?

Affinity members can register for their free Greenlight subscription online by linking their Affinity accounts.

What does Affinity Federal Credit Union do?

Affinity Federal Credit Union is a community-focused financial institution that provides comprehensive services and promotes the financial wellbeing of its members.

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