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Langley FCU Wins Honorable Mention Award for Youth Financial Education Program

Feb 20, 2013 by Lewis Wood

Langley Federal Credit Union has won an Honorable Mention Award in the Desjardins Youth Financial Education program. The credit union was honored for a decade-long commitment to educating young people about personal finances.

Langley Federal Credit Union has won an Honorable Mention Award in the Desjardins Youth 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 to young people.

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 individuals to save, and he promoted the idea of in-school savings programs (caisses scolaires).

The credit union was honored for a decade-long commitment to educating young people about personal finances. LFCU partnered with eight elementary schools and one middle school in its popular Mini-Branch In-School Savings program during the 2012-2013 school year, encouraging students to develop positive financial habits. Student participants in the program made 653 deposits of more than $17,000, learning first-hand about the importance of saving for the future.

In addition, the credit union offered 40 grants of $250 each to educators who demonstrate creativity and innovation in incorporating personal finance topics into their lesson plans. The program encourages the sharing of best practices and resources with our schools in an effort to deliver personal finance training.

"The ability to make thoughtful and informed financial decisions has never been more important," said Thomas Ryan, the credit union's President/CEO. "We do today's youth a grave disservice if we fail to provide them the knowledge they need to successfully manage their finances.By partnering with local schools, we're also working to provide the resources our educators need to bring personal finance lessons to life in the classroom," Ryan concluded.

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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