MMFCU provides financial education

Mid Minnesota Federal Credit Union (MMFCU) recently promoted Nicole Pfeffer to community outreach manager as her role has expanded to lead all the financial education taking place in the communities served.

In 2023, MMFCU served more than 5,600 individuals through a total of 271 hours of financial education free of charge in the communities it serves. This is accomplished through seminars, classes, simulations and other educational opportunities by partnering with local communities, employers and schools.

“The financial world can feel intimidating. There’s a lot to learn and frequent changes and decisions that feel like high stakes,” said Miranda Anderson, senior vice president of strategy and marketing. “This is why MMFCU is passionate about helping our members and community build financial literacy. Nicole has applied her knowledge serving members for more than 20 years inside the walls of financial institutions to classrooms and training rooms in the community.”

Pfeffer has been in a variety of roles serving individuals’ financial needs and training teams over the course of two decades including as a customer service representative, loan processor, mortgage originator and branch manager. At the end of 2022, she transitioned to community outreach in specific communities which has evolved to MMFCU’s entire service area.

“Being able to extend my network while partnering with our community schools and nonprofits is an exciting venture. Then, taking my experience and helping others find their financial freedom has been rewarding,” said Pfeffer.

Financial topics often presented are money management, identity theft and credit reports. In addition, MMFCU offers two simulations that groups can experience:

• The Poverty Simulation Program is designed to help individuals better understand poverty by stepping into the real-life situations of others struggling with and living in, poverty. This helps to raise awareness and increase understanding of the challenges individuals and families living in poverty face each day.

• Mad City Money is a hands-on simulation that gives youth a taste of the real world – complete with career, salary, spouse, student loan debt, credit card debt and medical insurance payments. They select housing, transportation, food, clothing, child care – all while building their budget. Students experience unexpected windfalls and unplanned expenses, just like real life. Participants learn how basic personal finance skills can help them avoid financial problems in the future and gain a valuable new perspective on their choices with money.

For more information about financial education and how to arrange for an education event or simulation for students, employees or group call your local MMFCU office or visit www.mmfcu.org/community/financial-education/.