We spoke with Mary Greco, President of Clackamas Federal Credit Union and her two staff members, AVP of Marketing,Luke McMurray, and Administrative Assistant Jennifer Kraxberger to discuss financial literacy.

Can you tell us a little about Clackamas FederalCredit Union?
57 years ago citizens in Clackamas County created the credit union to serve workers and public service employees. The Credit Union is still headquartered in Clackamas and has grown to more than 25,000 members, served by 84 employees in six branches.

What makes Clackamas Federal Credit Union special?
Our mission is taking pride in making a difference by supporting the financial success of our members. We also strive to support the communities we serve.

Why does Clackamas Federal Credit Union support Financial Beginnings? Why is financial education important to your company?
We believe that everyone needs to understand how to prepare financially for the future. When people borrow money, we want them to understand everything about the loan – how they are being charged and what the requirements are. I personally believe that financial literacy is very important and should be taught from first grade through college.

Why did you decide to partner with Financial Beginnings?
Financial Beginnings will help us reach our members and people throughout the county. We want people to learn how to save and make their lives better. Saving is the first step to a successful future. The Financial Beginnings curriculum provides the consistent and unbiased message to students that we think is critical.

In addition to supporting Financial Beginnings, does Clackamas Federal Credit Union have any current or planned programs,initiatives, or resources to increase financial literacy?
We provide workshops throughout the year. And we are going to be teaching classes at Clackamas Community College using the Financial Foundations curriculum created by Financial Beginnings.

In your opinion, what is currently the most critical finance-related topic that needs to be addressed through education?

Mary: Saving is the most important. People don’t know how to save. They seem not to understand that they can start small and build. Instead, they set a goal beyond their means and then become discouraged.

Luke: Budgeting is critical. People need to have a plan and follow it.

Jennifer: I think people need to understand how to live within their means and not try to keep up with their neighbors. Saving and budgeting – those are the most important elements in financial literacy.