Royal Credit Union offers financial literacy program at Chippewa Valley Correctional Treatment Facility
CHIPPEWA FALLS, Wisconsin (WEAU) – The Royal Credit Union offers a financial literacy program at the Chippewa Valley Correctional Treatment Facility. The course is designed to help the CVCTF men prepare for their release from the institution. During the program, participants learn how to budget, pay their bills and know how credit works.
Darrin Cowser is in the Corrections Department at CVCTF. He attended and completed the Financial Literacy Instructional Program and believes it is a good tool to keep in your back pocket.
“Taking this program gave me a lot of information on how to budget money and create a credit history so I can have credit,” Cowser said. “Credit is just borrowing money, which I never knew. now i understand this so maybe it will help me with bigger purchases like a house, owning and owning a vehicle.
Brandon Riechers is the CEO and Chairman of RCU. On Wednesday he saw the class firsthand and had the chance to hear what the participants learned.
“What they’re going to support when they join the community, how will that impact how they can teach their families, I hear a lot about savings, a lot about how they will be able to read the credit card statements, understand what interest they are paying, ”Riechers said. “It’s very gratifying to hear that.
Wisconsin Department of Financial Institutions Secretary Kathy Blumenfeld and Corrections Department Secretary Kevin Carr were also in attendance for Wednesday’s instruction.
Blumenfeld says it was a touching experience to watch the participants learn.
“Seeing the knowledge imparted to these people helps strengthen their financial acumen, financial management and financial mindset so that when they live here they can enter the community on good feet and get started on the road. the road to financial well-being, ”says Blumenfeld.
Carr says the most memorable part of the experience for him was hearing the participants talk about how they could use what they learned in the future.
“When I heard how the people who benefited from this educational opportunity thought it would help them and their families when they returned to their community, it warmed my heart.”
Cowser believes this course can be useful for anyone looking to improve themselves or make better financial choices.
“It can still give you tools to help you save more money, do something with your money instead of just spending it on things you don’t need, but want,” said Cowser.
Riechers says the financial literacy program began in 2015 teaching at the Eau Claire County Jail. Since then, including the CVCTF, Barron and Dunn County Jails have also implemented the program. He says that with the data collected so far, the class has had a positive impact on those returning to their community.
“We saw statistics on how much it helped people once they got back into the community, so it’s very positive from that point of view,” Riechers said.
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