Langley Federal Credit Union Captures State Financial Education Award for Youth Programs

NEWPORT NEWS, VA (11/06/2009)(readMedia)-- Langley Federal Credit Union has won a state-level Honorable Mention 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.

Langley Federal Credit Union was recognized for a wide-ranging financial education program covering all ages. It provides an in-school "mini savings branch" program at a half-dozen elementary schools, teaching young people the importance of savings, and its Constellation Club program teaches financial responsibility and the importance of saving. Programs such as the High School Financial Planning Program, reality store budget simulations and its Financial Learning In Progress (FLIP) program are reaching teens and college-aged consumers with lessons on personal finance basics.

In addition, the Langley Saves Share Account offers younger and lower-income members the opportunity to build their savings in high-yield, low-balance savings accounts. A state-of-the-art Member Education Center is also enabling the credit union to host a variety of personal finance workshops for members of all ages.

"We're never too young or too old when it comes to financial education," says Jean Yokum, President/CEO of Langley Federal Credit Union. "We'll be managing our finances every day of our lives, and it's vital that we educate ourselves about budgeting and using credit wisely. Our credit union views financial education as an integral part of our mission, because we understand our responsibility to help our members achieve their financial dreams and plan for the future."

Langley Federal Credit Union is a $1.5 billion member-owned, not-for-profit financial cooperative based in Newport News. Learn more about the credit union online at www.langleyfcu.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 children to save, and he promoted the idea of in-school savings programs (caisses scolaires).