BayPort Credit Union Recognized for Financial Education Initiatives

NEWPORT NEWS, VA (12/22/2011)(readMedia)-- BayPort Credit Union has won 1st Place in the Desjardins Adult Financial Education Awards for credit unions. The Desjardins Awards, sponsored by the Virginia Credit Union League and the Credit Union National Association, honor credit unions for their commitment to teaching personal finance basics within their communities.

The credit union's award-winning entry highlighted several initiatives, including personal finance workshops in partnership with various organizations, including Head Start, the Isle of Wight County Department of Social Services and local businesses.

The credit union also introduced the innovative Money Coach, a powerful interactive online tool which gives employees and members the ability to build a personalized financial lesson plan in three simple steps. Money Coach allows individuals to clarify their financial goals and set priorities; select specific lesson plans based on their unique life stages and needs; and develop a personal financial action plan; and track their progress toward their financial goals.

BayPort also continued its commitment to helping local teachers present financial education concepts in the classroom by sending 18 local educators to the Jump$tart Coalition for Personal Financial Literacy's National Educator Conference in Washington, D.C. This unique conference is devoted entirely to how best to teach money management and personal finance in the classroom.

"The economic hardships of the past few years have shown families the importance of having their financial houses in order," said George Dudley, president/CEO of BayPort Credit Union. "There is real interest in budgeting, in saving for the future, and in using credit wisely. We are proud to offer resources that teach people how to get ahead financially and make smart choices when it comes to managing their personal finances."

BayPort Credit Union is a member-owned financial cooperative headquartered in Newport News, with $1.1 billion in assets and more than 92,000 members. Learn more about BayPort Credit Union online at www.bayportcu.org.

The award is named in honor of Alphonse Desjardins, the founder of the North American credit union movement, who established the first "caisse populaire" (people's bank) in Quebec in 1900, and helped establish the first American credit union in New Hampshire in 1909. Desjardins was an ardent believer in the value of teaching individuals to save, and he promoted the idea of in-school savings programs (caisses scolaires).