At a conference I was attending last year, the room was discussing financial literacy tactics and programs. Loyal CUSO Magazine readers will know that we celebrate Financial Literacy Month every April, so as someone always looking to hear more about credit unions and how they’re connecting with their members on the topic, my ears instantly perked up.

I’ve been a huge supporter of meaningful, relevant financial literacy programs throughout the years, and how credit unions can cultivate those programs with help from tools such as Zogo, Phroogal, Opportunity Knock$, Young Money University, etc. So imagine my horror when one credit union CEO raised their hand and proudly stated that their credit union’s one and only financial literacy effort was a “Financial Friday” social media post with content created by Chat GPT, copied and pasted into the post.

Now, to their credit, the CEO should be proud of having a consistent (posting every Friday) and modern (on social media) form of outreach relating to financial education for their members. However, they were treating financial literacy as simply a box to be checked off on a list of things all credit unions need to do. Make a social media post once a week, and there, you’ve completed your financial literacy requirement.

But that’s not the case. There’s no participation trophy for financial literacy. You don’t get a gold star simply for doing something—anything—related to the topic. There’s a reason education is listed as one of the seven cooperative principles. It’s a core element of who credit unions are and our mission to support our members’ financial well-being. If we prioritize selling and generating more loans while failing to invest in the member as a whole and their financial journey, we’ve missed the human element of our industry.

Speaking of, does your financial literacy have the human element? And not just in the program or the creation of materials, but on the front end as well? Can your members reach out to your staff for financial counseling? Do you offer educational classes? How can members connect with the humans in your institution on the topic of financial wellness? Or are you keeping the member at arm’s length by communicating with them solely through AI-generated content or a social media page that’s updated once a week?

An AI-generated tidbit to post on social media is devoid of the human element. It’s not going to help your members make real, significant changes to their money habits. For starters, at the bare minimum, these posts don’t typically offer real, relatable, actionable information, and don’t make members feel like you understand them or their financial needs and/or struggles. Or that you’re a financial partner who can help them on their journey to financial wellness.

That’s not to say social media is a worthless outlet. Last year, I talked about how critical TikTok has become in the conversation on financial literacy and how the app had become where many younger consumers—the same group credit unions claim they struggle to connect with—are getting their financial education. Yet, despite knowing where, when, and how younger groups like to receive their education and on what topics they need it, many are still throwing up an AI graphic on Facebook and patting their backs.

As Jamie Strayer, creator of Opportunity Knock$, even pointed out, these superficial acts of financial “education” can often feel patronizing and out of touch, leading to a loss of connection between your credit union and its members. Especially when you add in the AI element. AI doesn’t know what financial struggles your members are having. AI doesn’t know your community, its needs, or its demographics. It doesn’t know your field of membership. Why are you letting it be the mouthpiece through which your members and potential members hear from you? Why are you assuming the generic advice it spits out will be relatable to your members?

Effort and intention matter when it comes to creating financial literacy, wellness, and education materials and resources. It tells members you understand their needs and struggles and are there to support them in the way they need, where they are. So, as we continue to celebrate Financial Literacy Month, look at your credit union’s current offerings and ask yourself if they fit your members’ needs. Are they real, actionable, and relatable education and support resources that meet your members where they are? Or are they designed and thrown up on social media merely to check a box?

And if you need some help making a financial wellness program that connects with your members, we’ve featured a number of them in CUSO Magazine so far, and we have a few more coming this month, so keep your eyes peeled!