Member Spotlight: Investing in Financial Literacy - How Baylands Family Credit Union Is Leading the Way

Baylands Family Credit Union, an esteemed member of the Virginia Credit Union League, exemplifies the ‘People Helping People’ philosophy that defines credit unions. This guiding principle has driven Baylands to develop robust financial education programs aimed at enriching both their members and the broader community. This year, they’ve placed a particular emphasis on two major initiatives: Youth Financial Education & Empowerment and Community Partner In-Person Education Seminars, aiming to enhance financial literacy and empowerment across diverse age groups.

Youth Financial Education & Empowerment

In April, Baylands presented “Let’s Talk About Loans” to Economics classes at Bruton High School. The combination consumer and mortgage lending presentation focused on giving students a fun and interactive overview of car and mortgage loans.

“It was a great experience getting to work hands-on with high school students, giving them a better understanding of their financial future!” noted Desiree, a representative at Baylands’ Norge branch.

Furthermore, Baylands partnered with the Virginia Cooperative Extension to provide the “Reality Store,” which gives youth a glimpse into what finances are like for adults with an emphasis on budgeting for expenses like housing, transportation, clothing, and more.

A representative from the West Point Branch, Melissa, reflected on this experience and remarked, “It is a great teaching tool for the students. I really enjoyed being part of the learning experience and watching the children’s reactions at the cost of living based on the choices they were making.” 

In only the first half of 2024, over 400 local youth have been impacted by the Baylands Youth Financial Education & Empowerment initiative. 

Community Partner In-Person Education Seminars

Earlier this year, Baylands forged a partnership with Thrive Virginia, a local community resource agency, to host a series of in-person financial education seminars.

The first of these was “The Keys 2 Homeownership Seminar.” It featured several local real estate experts and focused on helping those who had questions about the home-buying process.

“It was a pleasure to talk with a diverse group of people that are focused on moving toward a future goal of homeownership.  Hopefully, we answered some questions that will make the journey less stressful, and look forward to holding another class soon!” said Mortgage Lending Manager, Tina Trimmer.

The second seminar, “Credit Confidence,” will take place on July 13th at the Thrive King & Queen Family C.A.R.E Center. This session is designed to answer common questions about credit and guide attendees on their path to better credit and  achieving their financial goals.

Baylands Family Credit Union, a previous recipient of the Alexander Desjardins Financial Education Award, continues to showcase the power of the credit union difference—putting people before profits. As they forge ahead, Baylands remains committed to enhancing the financial literacy of their community with innovative programs that embody the core values of the credit union movement. Their initiatives not only prepare individuals for financial independence but also build a foundation of knowledge that benefits generations.