Chris Holman welcomes back Shelia Scott, Community Financial Education & Business Development Officer LAFCU, Lansing, MI.
Watch Shelia and Chris discuss LAFCU's Pathway to Financial Transformation: an 8-month free course in Michigan to improve financial literacy, budgeting, and long-term financial stability in the YouTube video shared below:
Shelia's on hand this time around to discuss LAFCU's Pathway to Financial Transformation Course. Shelia facilitates this course. Deadline to enroll for 2024-2025 cohort: Sept. 8, 2024
Q1. Tell us about LAFCU's Pathway to Financial Transformation course.
A. Absolutely! LAFCU's Pathway to Financial Transformation is a comprehensive, eight-month personal finance course designed to help adults budget, save, and build financial stability. It helps with financial literacy so everyone can get on the path to a better financial future.
Enrollment is FREE and open to all Michigan residents through Sept. 8th, and we're very excited about the positive impact this course has had on our community. This will be LAFCU’s fourth cohort.
Q2. What does the course entail, and how is it structured?
A. The course is held virtually every other Thursday from 6 to 7 p.m., starting Sept.12th and running through April 6th. We also offer the opportunity for participants to attend an in-person class at our headquarters in Lansing to connect with each other and with LAFCU staff. We end with a celebratory in-person graduation ceremony, complete with caps and gowns, to recognize the participants' achievements.
Q3. Why is the course duration eight months?
A. The eight-month duration is intentional. It provides participants ample time to implement the lessons they learn into their daily lives.
This extended period helps them witness the real impact of small, consistent behavioral changes on their finances, leading to meaningful and lasting financial transformations.
Q4. What topics are covered in the course?
A. We cover a broad range of topics essential for achieving financial stability. These include budgeting, investing, home and automobile ownership, managing financial stress, enhancing credit scores, retirement planning, and addressing barriers to financial resource access. The course is very comprehensive, aiming to provide participants with a well-rounded understanding of personal finance.
Q5. This is LAFCU’s fourth year of the program, what have participants gotten from the course?
A. We've seen participants achieve remarkable results.
Some have increased their credit scores by over 100 points, others have paid off more than $20,000 in debt. A recent graduate mentioned how the course helped her understand the importance of retirement planning—something she didn't understand before.
Q6. How can someone enroll in the Pathway to Financial Transformation course? [By Sept. 8!]
A. Enrolling is easy! Just visit our website: lafcu.com/pathway. The course is free and open to both LAFCU members and non-members across Michigan but remember to sign up by Sept. 8th.
We encourage everyone interested in improving their financial literacy and stability to take advantage of this great opportunity because we know thriving individuals contribute to a vibrant community.
At LAFCU, we are deeply committed to enhancing the financial futures of all Michigan residents. This course is a big part of that commitment. By providing these valuable skills and knowledge, we're not just helping participants today—we're setting them and future generations up for long-term financial success.
----
LAFCU also shared more information about the program:
Comprehensive course helps adults budget, learn to save, build financial stability
LANSING, Mich. — LAFCU is excited to announce that enrollment is open to all Michigan residents for its acclaimed and transformational personal finance course through Sept. 8.
LAFCU's Pathway to Financial Transformation course will be held virtually every other Thursday from 6 to 7 p.m., starting Sept. 12 through April 6, excluding holidays. Each semester, participants will be able to attend one in-person class at LAFCU headquarters in Lansing to connect with fellow Pathway participants and LAFCU staff. The course will culminate in a celebratory in-person graduation ceremony, complete with cap and gowns.
“The eight-month duration of the course is intentional as it allows participants to witness the real impact of small, daily behavioral adjustments on your finances,” said Shelia Scott, LAFCU community financial education and business development officer, who leads the program. “With plenty of time between sessions, participants can implement what they’ve learned into their daily lives, setting the stage for meaningful financial transformation.”
Former participants have reported impressive financial gains and tangible improvements while taking the eight-month course. These achievements range from credit score increases of over 100 points, repayment of more than $20,000 in debt, setting up savings accounts for their children and moving away from living paycheck-to-paycheck.
"I moved from Mexico in 2011, intending to stay just five years, but our circumstances changed," said Maria Espinosa, a recent graduate of the Pathway to Financial Transformation course. "The culture of retirement and savings differs greatly between Mexico and the United States. In Mexico, living paycheck to paycheck is the only way of life – no designated savings or long-term thinking. The Pathway course has helped me understand the importance of planning for retirement. I'm so grateful to Shelia and LAFCU for helping me navigate this next phase of life."
The bi-weekly, one-hour classes cover essential topics for achieving financial stability, including budgeting, investing, home and automobile ownership, managing financial stress, enhancing credit scores, retirement money management, and addressing barriers to financial resource access.
The course features insights from LAFCU experts in collections, lending, investments, insurance, and diversity, equity, and inclusion, as well as guest speakers specializing in financial counseling, auto lending and maintenance, mortgages, and health and wellness coaching.
The Michigan credit union is committed to enhancing the financial futures of all Michigan residents and continues to expand access to this acclaimed course, which is now in its fourth year. Participation is open to both members and nonmembers across Michigan.
“I truly believe that this course is one of the best things we as a credit union do annually,” said LAFCU CEO Patrick Spyke (left). “We’re able to ensure those in our community have the tools and skills to make smart financial decisions and not only set them up for success but ensure their children and children’s children can benefit from the lessons learned and information gained in this course.” To enroll in LAFCU’s free, comprehensive personal finance course, visit www.lafcu.com/pathway by Sept. 8.
To get a flavor of the pride program participants feel after participating, watch the Pathway graduation ceremony from this recent Spring.
About LAFCU
Founded in 1936, LAFCU (pronounced laugh-cue) is a not-for-profit, member-owned credit union open to all who live, work, worship or attend school in Michigan, and to Michigan businesses. LAFCU serves more than 74,000 members and holds over $1 billion in assets. With a particular focus on serving people of modest means, LAFCU is committed to enhancing its members' financial well-being and creating long-lasting positive change across generations. Awarded the prestigious Dora Maxwell Social Responsibility Community Service Award, LAFCU is known for its people-helping-people mission, which has led to award-winning financial literacy programs for all ages. Twice honored as a national ‘Best Credit Union to Work For’ and recognized globally for its diversity, equity, and inclusion initiatives, LAFCU stands out for its commitment to creating an inclusive workplace. Learn more at www.lafcu.com.
# # #
Photo captions
1-LAFCU Pathway to Financial Transformation Graphic.jpg — Topics in LAFCU’s upcoming personal finance course range from home and automobile ownership to dealing with financial stress.
2-LAFCU Shelia-Scott.jpg — Shelia Scott, LAFCU's community financial education and business development officer, leads the eight-month personal financial course.
###
» Visit MBN website: www.michiganbusinessnetwork.com/
» Watch MBN’s YouTube: www.youtube.com/@MichiganbusinessnetworkMBN
» Like MBN: www.facebook.com/mibiznetwork
» Follow MBN: twitter.com/MIBizNetwork/
» MBN Instagram: www.instagram.com/mibiznetwork/
