Northwest FCU Wins State, National Desjardins Award for partnerships with local schools, providing lessons on personal finance basics
Northwest Federal Credit Union has won 1st Place State and 2nd Place National Awards in the Desjardins Youth Financial Education program. The Desjardins Award, sponsored by the Virginia Credit Union League and the Credit Union National Association, honors credit unions for their commitment to teaching personal finance basics to young people.
NWFCU was recognized for its work in reaching 1,000 students at two local elementary schools with lessons on personal finance basics. The credit union and its charitable foundation created an interactive school assembly program built around a financial education book it helped publish. Each child attending the assembly received a copy of the book, which also features tips parents can use to reinforce the personal finance lessons learned at the assembly.
The lesson of saving, spending and sharing money is also reinforced with each child writing their own story on how these concepts apply to their lives.
"Personal financial education has long been a focus of our credit union," said Northwest Federal Credit Union President/CEO Chris McDonald. "We believe that equipping young people to make informed choices about money will help them avoid financial pitfalls and set them on the road to financial security."
About Northwest Federal Credit Union
Northwest Federal Credit Union is a full-service financial institution ranking among the largest credit unions in Virginia and in the top 100 credit unions in the nation. Established in 1947 and headquartered in Herndon, Va., Northwest Federal is dedicated to providing financial services and education to its members and the community. The Credit Union currently serves more than 111,000 members and has assets in excess of $2.2 billion. For more information, visit www.nwfcu.org.
About the Desjardins Award
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).