Mountain CU Partners to Provide Financial Literacy Classes
September 13, 2019
Waynesville, NC – Mountain Credit Union has partnered with The Rotary Club of Haywood County to provide financial literacy classes in Canton, NC. The hope is to provide incentives for local, lower income families to start a savings habit, learn basic budgeting strategies and become educated on the financial service options in their community.
Once certain requirements are met, including attending the classes, scheduling one on one financial counseling sessions and establishing a savings account at the credit union, a financial incentive will be deposited into the participant’s new account. While Mountain Credit Union is providing the educational materials, the financial counselors, as well as the savings account, the Rotary Club of Haywood County is providing funds for a savings match program that will deposit $2 for every $1 that participants save over a six-month period. The maximum that can be earned is $600 per individual.
Participants in the program must fall into certain income guidelines to qualify. A single person household can earn up to $35,000 annually; two in the family can earn up to $42,000; three, $52,000; four, $60,000; five, $70,000 and six up to $80,000. Minimum annual incomes range from $13,000 for a single person household to $33,000 for a family of six. Classes began on September 5, 2019 at The Colonial Theater in Downtown Canton and will continue every Thursday evening throughout the month.
“This partnership was a natural fit and a great opportunity for us to make an impact within the Haywood County community,’” says President & CEO, Patty Idol. “One of our missions is to be a financial partner to those who may need an extra push to begin their journey to financial freedom and we are happy that the Rotary Club of Haywood County shares similar objectives.”
The Rotary Club of Haywood County is celebrating its 40th anniversary and serves the eastern part of the county. The club has set aside $10,000 for this adult literacy and savings match program, along with other financial literacy courses they will be sponsoring in local high schools.
Mountain Credit Union currently has eight branch offices located throughout Western North Carolina and serves anyone who lives, works, worships or attends school in Buncombe, Cherokee, Clay, Graham, Haywood, Henderson, Jackson, Macon, Madison and Swain Counties of North Carolina. For more information, please visit www.mountaincu.org