Virginia Credit Union Honored for Work with Schools, Teachers on Financial Education

LYNCHBURG, VA (10/22/2010)(readMedia)-- Richmond-based Virginia Credit Union has won a Third Place 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.

Addressing a new state initiative to teach personal finance in public schools, Virginia Credit Union equipped educators with resources necessary to meet the challenge. Virginia Credit Union organized a day-long educational opportunity for 90 Richmond-area public school teachers called "Real Money," which presented several different financial education curricula to teachers and offered training to help them meet the new requirements with their students. The Real Money workshop concept has since been repeated with educators in Northern Virginia and Hampton Roads.

Using the Smart Start financial education curriculum it developed, the credit union was able to reach almost 5,000 students and 200 teachers through its financial education programs during the 2009-2010 school year. The credit union was also recognized for efforts in meeting with lawmakers to promote financial education in schools.

"Challenging economic times like these underscore the importance of making smart financial choices. Even the most basic lessons in personal finance we receive as young people influence the way we manage and use money," said Jane Watkins, President/CEO of Virginia Credit Union. "It's critically important that we educate young people on how to manage their finances for a lifetime."

Virginia Credit Union is a not-for-profit financial cooperative owned by its more than 200,000 members. The Credit Union provides a variety of affordable consumer services and financial education resources with the sole purpose of helping people grow financially. Learn more online at www.vacu.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).