Financial Confidence Starts with Conversation

As you may know, Financial Literacy Month takes place in November each year. Throughout this month, the CUA team is encouraging individuals, businesses and community organizations to reflect on their financial well-being. This year, the Government of Canada’s theme is “Talk Money” in an effort to break the stigma on discussing finances. Money is not an easy subject to bring up with others, but research shows that talking about money can boost financial confidence and CUA is always here to help.

Strengthening financial literacy helps reduce uncertainty around money and empowers people to make informed, confident financial choices. We know that talking about money isn’t always easy so this month’s CUAdvice article shares 20 thoughtful financial questions to help guide personal finance discussions, making them more open, productive, and free from shame. The key takeaway is personal finance is exactly that—personal. There’s no one-size-fits-all approach, as everyone’s financial goals and circumstances are unique.

Improving financial literacy results in better financial health. At CUA, we are a leader in financial literacy and I want to share some of the resources we have available on our website: CUAdvice articles cover a range of topics like budgeting, debt repayment, and investing 101; the Money Matters Glossary defines banking and financial words or phrases; It’s a Money Thing videos are short cartoons that teach children and young adults important concepts about personal finance; and, tools like the Financial Health Index and the Goal Planning System (GPS) help you measure your current financial situation. We also offer in-person or virtual financial literacy sessions on important financial topics, such as buying a home, managing credit cards, planning for retirement and saving for education. These sessions are free and can be tailored to the needs and interests of different groups.

Before I wrap up, I wanted to thank all our members who took part in online and in-branch festivities as we celebrated our annual Member Appreciation Day on November 6. We selected 10 lucky winners, each of whom took home a wonderful prize, including the grand prizes of $1,000 cash and an Apple iPad. We also had three more surPrizes up our sleeves and I had the pleasure of presenting a $100 youth banking, a $300 emergency fund and $500 mortgage payment to three of our great members. Congratulations to all of the winners and thank you to everyone who participated. We look forward to celebrating with you again next year.

I hope you take time to explore some of our financial literacy resources and have a positive conversation about finance with your friends or family this month. If you have questions, please connect with one of our financial advisors who can provide guidance to help you make decisions around your individual needs and circumstances. Please reach out to a member of our team at 902.492.6500 or info@cua.com.

Your CEO,