Partnership with My First Nest Egg will give Holy Rosary Credit Union’s members and partner schools access to a new financial education platform
PHOENIX, AZ (August, 2022) — My First Nest Egg, a new digital financial literacy system that gamifies healthy financial habits for kids ages 3-12, and Holy Rosary Credit Union, a CDFI credit union based in Kansas City, MO, have partnered to provide Holy Rosary’s youngest members and students in its partner schools a fun way to earn, save and be generous. The app not only operates as a chore and award management system for families, but also provides an age-appropriate financial literacy curriculum for kids based on national standards.
A custom co-branded version of the My First Nest Egg app and content will be made available to Holy Rosary’s members and students at its partner schools at no cost to the families. This partnership is instrumental in realizing the mission of both parties in spreading financial wellness to their communities.
My First Nest Egg enlisted the help of a child psychologist to design a unique product which puts the mental wellness of children first. The app makes learning healthy money habits fun with earning puzzles, leaderboards, and a robust financial curriculum. Money habits are set as early as age 7, but most kids lack exposure to even basic money concepts during these early years. This lack of early education has caused a financial literacy epidemic, and is a key driver of poor mental health in adulthood. 64% of adults identify money as a significant stressor in their lives. Money is more about the mind than it is the math, and My First Nest Egg seeks to instill good habits in childhood to enhance financial outcomes and decrease financial stress in adulthood.
My First Nest Egg’s co-founder and COO, Annie Shoen, has summed up their mission as the eradication of financial illiteracy. “We are moms in the trenches who live the daily challenges facing children and families. As such, we are uniquely positioned to tackle this problem. We believe our mission is as lofty as it is achievable.”
While the My First Nest Egg app is available to the public for purchase through the Apple and Google Play stores, a major aspect of the company’s efforts to improve financial literacy is facilitating partnerships with trusted institutions who are already committed to giving their customers the tools to achieve financial success.
Nicolle Hood, My First Nest Egg’s co-founder and CEO, said: “We believe that financial literacy is key to reducing income inequality. When Carole Wight, Holy Rosary’s CEO, explained that their mission is to work together to create a world without poverty by providing economic opportunity, we knew we wanted to be a partner in their good work. By offering a fun, safe, and easy way to integrate much needed financial literacy education into their services, we are thrilled to be helping financial institutions like Holy Rosary create meaningful impact on the communities that matter most to them.”
“Holy Rosary Credit Union is excited to provide our young members with a foundation for good financial habits using My First Nest Egg,” said Holy Rosary’s CEO, Carole Wight. “Many money habits are ingrained at a young age, so teaching our children to save, invest, donate, and spend carefully will help them carry those habits into adulthood. Investing in children today promises a tomorrow with a stronger economic future for all.”
Holy Rosary will be rolling out the My First Nest Egg program to its members and partner schools in the Fall of 2022.
About My First Nest Egg
Co-founders, Nicolle and Annie, have been friends for years and have 3 and 4 kids respectively. Confined due to Covid lockdowns, they were desperate to motivate their children to do chores and schoolwork with fewer tears and were shocked to discover their kids did not understand the value of a dollar. These moms and former attorneys studied the chore apps and the debit cards for kids, but when they could not find an age-appropriate solution for their young children, they got to work. After consulting with child psychologists, financial experts, educators, and lots of parents, they created a cutting-edge financial literacy tool. Today, My First Nest Egg is helping families give their young children healthy financial habits with a system backed by behavioral psychology and kid approved fun.
About Holy Rosary Credit Union
Holy Rosary Credit Union, located in Kansas City, MO, is a low-income designated CDFI credit union, which serves a low-income population comprised largely of immigrants, people of color, disabled low-income seniors and other financially underserved populations.