Financial Literacy Essay

As the proclaimed “Melting Pot'' of the world, Americans are consequently united in a variety of fashions. However, none take precedence quite like their ceaseless pursuit of applicable skills to not only further their own individual advancement but their family and descendants for generations to come. We attain hundreds if not thousands of skills and tricks to elevate our trade. We learn languages, programming codes, and complex algorithms for the facilitation of progress. Unfortunately, in pursuit of these abilities, we often lose sight of a skill just as significant. Financial Literacy.

Financial Literacy is defined as the ability to understand and effectively use various financial skills, including personal financial management, budgeting,

The first and most significant attribute that elevates a credit union to this position is that credit unions are not for profit while banks and other financial institutions are for profit. While a credit union does and still wants to make a profit, they are not dazzled by the “almighty buck” the same way the owner and stockholders of a for-profit institution may be. This greed causes your rates to increase and can also make getting a loan more difficult. The credit union is not for profit allowing them to give you not only better rates on loans but also higher deposit rates on things such as a Certificate of

Burns” type figure controlling every little detail and rate the way a for-profit financial institution does. These members are able to not only elect board members to represent the credit union and members but also run for these positions as well. Credit unions such as the Public Safety Credit Union wouldn’t be as efficiently run as member-owned financial institutions without their membership qualifications. For the Public Safety Credit Union, this is to either be or be a family member of a first responder such as a police officer, firefighter, dispatcher, and other related units. First Responders are an extremely tight-knit group welded together with a multitude of shared experiences that most cannot begin to fathom. The Public Safety Credit Union does understand this experience and strives to be member-oriented with a people-helping-people philosophy. Being a smaller institution that serves a select demographic allows for every member to not just feel, but be a priority to the Public Safety Credit Union. There is no bank in the world no matter how far you walk, fly, or sail, that can give you the personalized service and empathy that suit your circumstances the way a credit union