LI Credit Union Earns Statewide Recognition for Youth Financial Education Program

• by Credit Union Association of New York

ALBANY, NY (10/06/2009)(readMedia)-- Teachers Federal Credit Union recently earned statewide recognition for its youth financial education programs. The credit union received first-place honors in the national Desjardins Youth Financial Education Awards. The award recognizes leadership within the credit union movement on behalf of youth financial literacy and is given to credit unions by asset category. Teachers received the first place award in the $250+ million asset category.

"Teachers FCU impressed our judges with quality financial education programs that will help today's youth become tomorrow's savvy financial consumers," said Diane LaVigna-Wixted, executive director of the New York Credit Union Foundation. The Foundation administers the Desjardins Awards program on the statewide level.

The award is named in honor of Alphonse Desjardins, the founder of the North American credit union movement. Desjardins established the first "caisse populaire," or people's bank, in Quebec in 1900. He also helped found the first American credit union in New Hampshire in 1909. Desjardins was a dedicated believer in the value of teaching children to save and zealously promoted the idea of in-school savings programs (caisses scolaires).

Teachers FCU was founded in 1952. As of 6/30/09, the credit union had over $3 billion in assets and around 200,000 members.

The New York Credit Union Foundation serves credit unions, schools and community organizations that help improve the financial literacy and independence of New Yorkers and promote the credit union difference. For more information about the Foundation, visit www.nycuf.org.

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