Credit unions are deeply committed to promoting financial literacy and enhancing financial wellness and capabilities within the communities they serve, and, each April, Financial Capability Month serves as a reminder of this. But what does financial capability mean? Quite simply, it's the ability to put financial knowledge and skills to work to help people better manage and protect their money, learn and build healthy financial habits and move closer to achieving their financial goals.
Despite the importance of financial literacy, many lack access to the educational pieces and resources needed to learn more and move forward. Moreover, admitting a lack of financial knowledge or past issues can be difficult, and, because of that, individuals may hesitate to seek assistance.
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