Federal Credit Union Is Inspiring Students About The ‘Bottom Line’

Keith Gallen once bought a pair of new jeans at the mall. He thought the easy buy now and pay later offer sounded great. He took it and ended up falling behind in his monthly payments. His $127 pair of jeans ended up costing him much more in the end.

Gallen is now a educational development specialist with  Inspire Federal Credit Union in Bristol. He, along with other friendly faces from Inspire FCU, have committed to weekly lessons at Harry S. Truman High School in Levittown recently to help educate soon-to-be adults about finances.

“I want to teach them not to make the same mistakes I did,” Gallen said.

Inspire FCU, formerly Bucks First Credit Union, decided a name change was in need for the Credit Union that started its life serving teachers and other educational endeavors. The new name is expected to spur on the community when it comes to their bottom line.

Hilary Reed, senior vice president of Inspire FCU, said with the majority of the Credit Union’s members being teachers in Bucks County, the credit’ union’s management and board of directors decided on changing the name to a word that capsulized the school communities of Bucks County. According to  the credit union, Inspire is just what they want to do for their members.

Inspiring financial responsibility for students coming of age and those looking to establish themselves financially has been a major initiative undertaken by Inspire FCU, Reed said. She added the Credit Union is accomplishing this goal.

Inspire FCU has established student-run banks within local school districts, including Palisades, Neshaminy, and Bristol Township School Districts, and is planning the same for other high schools within the county in the very near future, Reed said.

“The importance of teaching and educating students now about financial literacy is an essential key to success and we want to Inspire students to achieve their future goals,” Reed said.

A student-run branch recently opened inside Truman. The branch is lead by Gallen with a staff of students who help student and staff Credit Union members.

“Financial education and hands-on learning is at the foundation of our brand. We want to be recognized in the community as not only a great place to bank, but a financial institution who cares about the community and is dedicated to educating the youth. It makes us different from other banks and allows us to impact the community” Jim Merrill, CEO of the Credit Union, said.

Inspire FCU emphasizes helping members prosper over increasing their own bottom line.  Since they’re a Credit Union rather than a traditional bank there are less fees, more personalized service, and a true commitment to the community it serves. Dedicating time and resources to honor Bucks County’s Teacher of the Year is just one of the programs that set Inspire FCU apart.

The name change and rebranding strategies offers the Credit Union the opportunity to get back to its original roots from 1936 – school communities.

“We really wanted to capture the essence of our members. We assessed our member base and thought of a name that exemplified the unique qualities of our members as well as the direction of the Credit Union. The new name emphasizes our unique educational heritage as well as our future community efforts” said Chichi Ahia, board chairman of Inspire FCU.

During a class at Truman, Inspire FCU staff used games, student participation, and real-life stories to educate students about finances and how to keep themselves away from the debt that many young people find themselves accumulating. The outreach program is provided at high schools across Bucks County.

Gallen said the goal is to create a generation of financially educated students now as opposed to his experience with the pair of jeans he purchased.

If you’re a parent, teacher, or student and would like more information about bringing financial literacy to your classroom, CLICK HERE.

Inspire Federal Credit Union

215-788-5270 | 2104 Bath Rd Bristol, PA 19007 | ‘Like’ Inspire FCU on Facebook