Credit Union Association of New York Wins National Recognition

ALBANY, NY (12/03/2008)(readMedia)-- The Credit Union Association of New York, in partnership with the New York Credit Union Foundation, has been named a first-place winner of the 2008 national Desjardins Youth Financial Education Award by the Credit Union National Association (CUNA).

The Association was honored for its compendium of Foundation programs supporting youth financial education. The programs incorporate: teacher and volunteer training, classroom teaching, collaborations and the promotion and use of the High School Financial Planning Program created by the National Endowment for Financial Education.

Program highlights include:

• Kids Cash Kit & Caboodle - Through the program, nearly 11,000 hands-on educational kits that teach children the basic concepts of saving, spending & sharing were distributed to children ages 5-12.
• LifeSmarts...the Ultimate Consumer Challenge - This program, established by the National Consumers League and coordinated in New York State by the Foundation, is a game show-style competition for teenagers that prepares them to be responsible consumers in today's marketplace. 2,100 students participated in the 2007/2008 competition.
• brassïStudent Program - With co-sponsorship from 19 credit unions, the Foundation provides high school students with access to brassïMAGAZINE (a personal finance publication written by young adults), an online resource center for teachers and students and a searchable college scholarship database.
• Biz Kid$ - The Foundation is one of a number of entities that helps to underwrite the national production of the 30-minute PBS television series Biz Kid$.

The Association also works to inform elected officials, the press and the public about the problem of youth financial illiteracy, and lobbies to make youth financial education a mandatory curriculum requirement.

"We are honored to receive this award in recognition of our strong commitment to advance financial education initiatives in New York," said William J. Mellin, president/CEO of the Association. "We believe it is crucial for today's youth to be well-educated on the financial front so they can build healthy habits, which will positively empower them throughout their lifetime."

The Desjardins award is named in honor of credit union pioneer Alphonse Desjardins, who was instrumental in forming the Canadian and North American credit union movement. He established the first "caisse populaire," or 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 pioneered the idea of in-school savings programs known as "caisses scolaires."

The Credit Union Association of New York has served as the trade association for the state's credit unions for 91 years. It is the fifth largest league in the country. New York credit unions have assets of more than $40 billion and 4.2 million members. To learn more about the Association, visit www.cuany.org.

-30-