DuPont Community Credit Union Wins State, National Awards for Youth Financial Education Programs

• by Virginia Credit Union League

WAYNESBORO, VA (11/05/2009)(readMedia)-- Waynesboro-based DuPont Community Credit Union has won a 1st Place state-level award and Honorable Mention national award in the Desjardins Youth 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 to young people.

The credit union's award-winning entry featured its innovative MileStones program, an incentives-based financial education program that encourages young people to save and develop responsible money management skills. The program provides young members the opportunity to build their own credit history in a responsible way by offering small loans to those 16 years of age and older, after completion of the required financial education courses. More than 1,400 young members are enrolled in the program, and 17 young people have obtained their first loan from the credit union for a total of more than $76,000.

The credit union also partnered with 34 schools and 18 other organizations during the 2008-2009 school year to offer training in basic money management concepts. The credit union reports having reached 7,398 individuals through these presentations. It marketed its services to schools and community groups through a unique DVD that showcases the credit union's philosophy and accomplishments.

"I'm proud of the work our credit union has put into creating the MileStones program. Our goal is to help young people not only think about using money responsibly and learn how to budget and save, but to actually put those skills to practical use," says DuPont Community Credit Union President/CEO Gerald Hershey. "We're working to change what many see as a financially unprepared generation by offering young people the knowledge they'll need to navigate an increasingly complex financial services landscape."

DuPont Community Credit Union is a not-for-profit, full-service financial cooperative organized to serve the ever changing financial needs of all the members who own it. For more information visit the website at www.mydccu.com.

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).