URW Community Federal Credit Union won 1st Place in the state-level Louise Herring Award for Philosophy in Action competition. The competition honors credit unions for their practical application of the “People-Helping-People” philosophy that is the hallmark of the credit union movement. It is sponsored by the Virginia Credit Union League and the Credit Union National Association (CUNA).
The award-winning entry highlighted the credit union's Top Dawg Kidz Club, a unique savings club for kids featuring Dollar, the program's bulldog mascot. The program is heavily focused on providing a personalized experience for participants, with customized newsletters and phone calls from Dollar on each child's birthday.
More than 600 young members have deposited almost $384,000 in their credit union accounts.
"Encouraging young people to save for the future is incredibly important," said URW Community CEO Cheryl Doss. "If saving money becomes a lifelong habit, our young people will be better prepared for financial emergencies and in a much better position to fulfill their financial goals. Our hope is that our savings club sets our youngest members on a path to success."
A member-owned financial cooperative with more than 15,000 members, URW Community Credit Union provides a variety of affordable banking services, loans, checking and savings products, and was recently recognized as Credit Union of the Year by the National Association of Federal Credit Unions. The credit union is federally insured by NCUA. For more information, visit www.urwfcu.org.
The competition is named after Louise McCarren Herring, a credit union pioneer, who believed that the operational application of credit union philosophy helped better people's lives.