Northern Piedmont Federal Credit Union Earns State Financial Literacy Award

CULPEPER, VA (11/06/2009)(readMedia)-- Culpeper-based Northern Piedmont Federal Credit Union has won a 2nd Place Award in the state 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 was recognized for its financial education work and free financial literacy workshops in 10 schools and through various public service organizations. Its "Start Smart" workshops teach young people about budgeting, saving, credit reports, building credit, and understanding loans and loan terms. It also works with a Youth Advisory Board of teen account holders, ages 13 to 18, in researching and developing products and services that will appeal to teen members.

"Our credit union sees a real need in our communities for financial education and we're working to address that need," says Marsha Borland, President/CEO of Northern Piedmont Federal Credit Union. "Too many teens and young adults lack the personal finance skills they will need to successfully manage their finances and avoid the financial missteps that lead many to crippling debt."

Northern Piedmont Federal Credit Union is a $21 million member-owned, not-for-profit financial cooperative based in Culpeper. Learn more about the credit union online at www.npfcu.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).