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Michigan Credit Union League

Honor and Financial Plus Partner with Zogo’s Financial Literacy App

Honor Credit Union and Financial Plus Credit Union have recently partnered with Zogo, a leading financial technology company, to bring Zogo's app to account holders and families. The app, developed by a group of Duke University students, guides users through 400+ bite-sized financial and educational modules.

According to a study by Junior Achievement, 84% of teens say they look to their parents for information about money. However, T Rowe Price’s 11th Annual Parents, Kids and Money Survey found that nearly half of parents said they miss opportunities to talk to their kids about money. And a quarter said they are very reluctant to discuss financial topics with their kids. However, the same report found that three out of four parents think financial apps are a good way to teach about financial matters.

All of Zogo's content meets the national standards for financial literacy, and as users successfully answer questions, they will accumulate points they can redeem for gift cards (and other rewards).

“Zogo offers a fun, gamified approach to learning about financial literacy from the convenience of our members’ cell phones and at their own pace,” said Honor Product Manager Steve Juodawlkis. “Studies have shown that financial wellness and financial literacy go hand-in-hand. The earlier you learn about financial concepts, the better-informed money decisions you can make later in life. And while Gen Z and Millennials are a focus for such a tool, we’re finding that individuals of all ages can benefit from the learnings that Zogo provides while also having a little fun along the way.”

Honor expanded their financial education and financial services with the Zogo App and the Zogo classroom program with the help of a grant from the Michigan Credit Union Foundation.

“We are very excited to offer our members this fun and engaging resource to gain financial knowledge. This is just the beginning of our commitment to bring financial wellness to our members, communities, and employees. Zogo is a great resource because it offers a variety of relevant modules and topics. With our access code, students can learn how to save money and open a bank account, while those in a different stage of life can explore skills on investing and retirement,” said Financial Plus VP of Operations Michelle Thompson.

"Growing up, we didn't have good experiences learning finance" added Bolin Li, CEO/co-founder of Zogo. "With Zogo, we wanted to create a financial education experience our peers would actually use."

All of Zogo's content meets the national standards for financial literacy. As users successfully answer questions on the Zogo app, they will accumulate points that they can redeem for gift cards and other rewards.

The Zogo app is now available to account holders of Honor Credit Union at no cost on both the Apple App Store and Google Play Store.

MCUF Community Enrichment Grants can help credit unions launch new financial education programs and initiatives like a Zogo partnership. Find more information here.

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2022-09-15 00:00:00