CORE FCU Receives Financial Literacy Award

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With their 2010 Desjardins Youth Financial Education Award CORE staff (l-r): Jessica Burch, Karen Reardon, Melissa Cummings, and CEO Bill Sweeney.

ALBANY, NY (06/21/2010)(readMedia)-- CORE Federal Credit Union recently received the prestigious Desjardin Award for its work in promoting student financial literacy from the Credit Union Association of New York. The credit union was honored June 8th at the Association's Annual Convention in Cooperstown, N.Y. CORE received the statewide award for credit unions in the $35 to $75 million dollar asset size range.

Core's winning program, "Students as Educators," will advance to a national competition, where it will compete with youth education projects from credit unions across the country.

CORE opened the first student-run credit union in Central New York at ESM High School in 2005. The credit union operates an extensive financial literacy program that includes not only the student- run Spartan Branch program at ESM high school, but also a K – 8 school banking program, annual teen finance forums for area high school students, and adult education seminars.

Using the unique "Students as Educators" model, all of CORE's programs provide high school students the opportunity to learn about personal finance, teach their peers, serve as mentors and role models for younger students in the school district, and team-teach adult education sessions with school board members and credit union personnel.

CORE presented the "Students as Educators" program nationally in 2009 and 2010 at the Education Credit Union Council's Annual conventions, and actively works with other credit unions and school districts throughout Central New York to assist them in enhancing their own student financial literacy programs.

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 children to save, and he promoted the idea of in-school savings programs (caisses scolaires).

CORE Federal Credit Union is a $68 million dollar not-for-profit financial institution headquartered in East Syracuse, N.Y. and recently celebrated its 50th anniversary of serving its members and the Central New York community. They have offices in East Syracuse, North Syracuse and a newly opened location in Morrisville, N.Y.

The Credit Union Association of New York has served as the trade association for the state's credit unions for 93 years. New York credit unions have assets of more than $50 billion and 4.4 million members. To learn more about the Association, visit www.cuany.org.

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Editors Note: If you wish to reach a representative of CORE FCU directly for more information, please contact CEO William Sweeney or Marketing Director Jessica Burch at 315-656-8220.