Age-Friendly Financial Literacy Programs: AARP-NCUA Case Study

In one of the latest large scale efforts to develop and roll out age-friendly financial literacy programming, AARP announced that it is joining forces with the National Credit Union Administration to design and offer a range of programs that will help individuals and families gain broader access to financial services and realize financial security.

Financial literacy professionals are voicing their intrigue with respect to the range of initiatives being tackled by these organizations. Specifically, AARP and NCUA will share financial education resources and tools, co-develop and co-host events online and in communities, and participate in working groups focused on increasing the awareness of and access to important financial education resources.

One of the most interesting elements of the partnership is the emphasis that both entities are placing on age-appropriate resources, which is consistent with the mission and past practices of both AARP and NCUA. In spearheading the launch of this partnership, the staff of NCUA participated in AARP’s Ideas@50+ national event in San Diego, California earlier this month, where they provided key information and materials to the fifty-year-old-plus participants. The information covered such themes as elder financial abuse, retirement savings, and credit union services for senior citizens.

Industry observers are watching this partnership closely as a bellwether regarding the focus of financial education providers on age-specific populations, given the recognition that individuals comprising different age categories have special needs with respect to their personal financial affairs. The AARP-NCUA alliance should pave the pathway for other age-friendly financial literacy initiatives to be developed and launched in the months and years ahead.