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Langley FCU Captures Award for Financial Education Program Geared Toward Women

Feb 20, 2013 by Lewis Wood

Langley Federal Credit Union has won a 1st Place Award in the Desjardins Adult Financial Education program for series of financial workshops for women.

Langley Federal Credit Union has won a 1st Place Award in the Desjardins Adult Financial Education program. The Desjardins Award is sponsored by the Virginia Credit Union League and the Credit Union National Association and honors credit unions for their commitment to teaching personal finance basics in local communities.

The award is named in honor of Alphonse Desjardins, the founder of the North American credit union movement, who established the first “caissepopulaire” (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 individuals to save, and he promoted the idea of in-school savings programs (caissesscolaires).

LFCU was recognized for its "Taking Control" program, a series of financial management workshops for women. This intensive program features three two-hour sessions over a three week period, and covers financial literacy basics like cash management plus more complex topics like annuities, wills, trusts, divorce and Social Security.

Women can expect to live 20 years after traditional retirement age, and that longer life expectancy coupled with generally less earnings power compared to men, the impact of divorce, and sometimes long stretches outside the workforce to care for their families mean women must take special care in managing money and planning their retirement.

"Women have unique financial challenges and our 'Taking Control' workshops seek to arm them with the basics in achieving a secure financial future," says LFCU President/CEO Thomas Ryan. "Research shows that women want help in planning for retirement and in ensuring they are making the right financial choices for themselves and their families," concluded Ryan.

Ranked as one of the Top 100 largest credit unions in the country, Langley Federal Credit Union has over $1.7 billion in assets and serves more than 167,000 active members with 19 branches in Hampton Roads.

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