Teachers Federal Credit Union Wins Youth Financial Education Award

ALBANY, NY (11/13/2008)(readMedia)-- Teachers Federal Credit Union of Farmingville has been honored with the Desjardins Youth Financial Education Award. The award, sponsored by the New York Credit Union Foundation and the Credit Union National Association (CUNA), recognizes leadership and commitment within the credit union movement on behalf of financial education. Accepting the award was President/CEO Robert Allen.

The credit union's winning entry will now advance to the national competition, where it will compete with youth financial education projects from credit unions in other states.

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 scolaries).

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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