Salt Lake Community College Partners with Cyprus Credit Union to Launch Financial Wellbeing Program

Salt Lake City, Utah, December 16, 2024

Today Salt Lake Community College announced an exclusive partnership with Cyprus Credit Union to offer a comprehensive Financial Wellbeing Program aimed at helping SLCC students make informed financial decisions both during their time in college and in their future endeavors.

The Financial Wellbeing Program will equip students with essential knowledge on personal finance, budgeting, saving, credit management, and debt management. This initiative, finalized this fall, marks a significant step in providing financial education to a diverse student body.

Cyprus Credit Union will support the program financially over the next five years. The initial launch will introduce financial principles to incoming freshmen participating in SLCC’s Summer Bridge Program. Additionally, workshops, events, and services will be offered through various departments including Financial Aid, the Office of the Bursar, Student Clubs, and the West Valley Center. The program will also be integrated into the curriculum for certain courses in the Gail Miller Business School.

“We are deeply committed to our collaboration with SLCC,” said Amanda Morton, Vice President of Relationship Development at Cyprus. “The diverse student body here, representing individuals at various life stages and with an incredible eagerness to learn, stands to gain significant benefits from access to robust financial education. Understanding personal finances is a powerful tool that can not only transform an individual’s financial wellbeing but also positively influence their families and strengthen their communities.”

SLCC recognizes financial wellbeing as a crucial component of the holistic support it provides its students. “It doesn’t take much for our students to quickly snowball into a bad financial situation that can impact their mental and physical health and, of course, their academics,” said Jose Rodriguez Hernandez, a Student Support case manager in the Dean of Students Office and chair of the Financial Wellbeing Committee. “Learning to budget for and manage such emergencies can provide students with peace of mind, allowing them to focus on school, their jobs, and families.”

The diverse student population at SLCC, including first-generation college students, overwhelmed parents, immigrant and international students, undocumented students, and those living on their own for the first time, stands to benefit significantly from this program.

“I can’t say enough good things about the expertise Cyprus Credit Union brings to this collaboration—it speaks volumes about how deeply invested they are in helping us build a robust financial wellbeing program to serve and prepare our students for their lives,” added Rodriguez Hernandez.

While Utah high schools are required to provide a financial literacy class, Morton explains that creating an “ecosystem” around financial education is essential. “Anything you’ve mastered in life did not happen in a class you took for four months—especially as a 16- or 17-year-old.” College students, who may now be paying their own bills, have a different mindset than they had living at home during high school. Some students attended high school in states where such classes are not required.

“It is never too early or too late to develop a deep understanding of financial wellness, even if something has happened in your past, it is fixable, and everyone can get to the place they want to be,” said Morton. “This collaboration provides students with people who are willing to support them in finding the best financial path possible.”