URW Community Federal Credit Union won 2nd Place in the state-level 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.
The credit union was recognized for its work with teens at the Virginia Workforce Center. In a program designed to aid teens in landing their first jobs, the credit union was able to provide the 12 16- to-18-year-olds with real-world lessons in the importance of managing their money, writing checks and avoiding debt.
"Making smart financial decisions requires a basic understanding of personal finance and our goal was to provide these young job seekers with the tools they needed to manage their money wisely and prepare for real-world financial tasks, like balancing a checkbook," said URW Community Federal Credit Union CEO Cheryl Doss.
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 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).