Northwest Federal Credit Union won a 3rd Place Award in the state 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 more than 2,300 students at local elementary and high schools with lessons on personal finance basics. The credit union and its charitable foundation also created a program in partnership with local troops of the Girl Scouts and Boy Scouts of America to aid young people in earning their "Money Manager" badges, which signify the Scouts have received classes in how to spend wisely, build their savings and manage their money.
The credit union's youth clubs also incorporate money management concepts, teaching pre-Kindergarten youths through teens how to save, spend and share money.
"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.
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).