Work with Schools, In-School Branches Earns Financial Literacy Award for Langley Federal Credit Union

LYNCHBURG, VA (10/22/2010)(readMedia)-- Newport News-based Langley Federal Credit Union has won an 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.

The credit union's financial education work included reaching more than 2,200 students through 62 classroom presentations on money management basics during the 2009-2010 school year, covering all grade levels. Its innovative programs also include in-school "mini-branches" at a half-dozen area elementary and middle schools; its popular Constellation Club for members 18 years of age and younger, which teaches the importance of being financially responsible and the reward of saving; and a special program that provides 20 grants of $250 each for local schools to teach financial literacy in the classroom.

As part of its community and member education efforts, the credit union also invested in a state-of-the-art Education Center, with 1,000 square foot classrooms to host local school field trips and which also provides access to a full-service branch for tours.

"We view financial education as an important part of our credit union's mission," says Jean Yokum, President/CEO of Langley Federal Credit Union. "With innovative programs for our members and outreach efforts in our schools, we've worked to become an important financial education resource for our community. We believe that society benefits from citizens who can wisely manage their finances and make informed financial choices."

Langley Federal Credit Union will celebrate its 75th Anniversary next year. The credit union serves more than 178,000 members and has more than $1.6 billion in assets, ranking the financial institution as one of the top 100 largest credit unions in the nation. 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).