SPC Credit Union Partners with Greenlight to Help Parents Raise Financially Smart Kids and Teens

(123rf.com Image)SPC Credit Union has partnered with Greenlight Financial Technology, Inc. (“Greenlight”) to better serve families and help the next generation build financial futures. Started in March, SPC Credit Union Members now have access to Greenlight’s award-winning family finance app, available through the Greenlight for Credit Unions program. According to a Researchscape survey by Greenlight, 91 percent of kid and teen respondents believed they needed financial knowledge and skills to achieve their life goals, and 94 percent of responding parents agreed. Only 35 states require a personal finance course for students, and teens score an average of 64 percent on the National Financial Literacy Test, showing a gap in financial education.From an additional Greenlight Researchscape survey of working parents whose children were 8-18, parents also ranked personal finance as 'the #1 most difficult life skill to teach their children', with 81 percent of respondents stating they 'wished they had more financial education tools and resources'. Greenlight offers a debit card and app that teaches kids and teens how to earn, save, give and spend with parental supervision. Using the Greenlight app, parents can send money, automate allowance payments, manage chores, set flexible spending controls, get real-time notifications of all transactions, and more. Kids get hands-on money management experience, along with access to Greenlight Level Up, an in-app financial literacy game with educational challenges and rewards. Caitlin Vance, SPC Credit Union’s Associate Vice President of Marketing & Community Development, says of SPC’s adoption of Greenlight, “We believe that fostering financial literacy from a young age is crucial for setting our Members up for future success. Greenlight provides an engaging and effective platform to make that happen.”