National Award Given To Maine Credit Unions For Youth Financial Literacy

Diana Roberts, CUNA Awards Committee Chair, and Maine CU League President, John Murphy.

     The Maine Credit Union League and Maine's credit unions continued to build on their own record by receiving a fifth consecutive Desjardins Youth Financial Education Award from the Credit Union National Association (CUNA). At a recent dinner in Washington, D.C., the Maine CU League was recognized with a first-place Desjardins Award for its leadership in youth financial education and providing money management skills to children. No other CU Movement has received more than three awards and none have accomplished that feat in consecutive years.

News of the award comes as Maine credit unions prepare to coordinate the 6th Annual Maine Credit Union Youth Week (April 22-28), which focuses on initiatives to build awareness with children and parents about the value of saving, money management and personal finance. Recently, Governor Baldacci proclaimed April as Financial Literacy for Youth month in Maine, a proclamation which commended Maine's credit unions for "their significant role in helping Maine children have a better understanding of personal finance."

"The Maine Credit Union League and Maine's credit unions continue to be an outstanding example of what can be accomplished in the area of youth financial education. Maine's credit unions remain committed to helping to create opportunities for children to gain a better understanding of personal finance and money management. Through a concerted and coordinated effort, Maine's credit unions are heightening awareness with children and parents throughout the state about the value of youth financial education. Thanks to the efforts of the League and Maine's credit unions, more Maine children are being exposed to financial education at an earlier age and, thus, are more likely to become fiscally responsible adults," wrote the Awards Committee at the presentation ceremony. The Committee also called the unique partnership between the Maine Credit Union League, the Maine Council on Economic Education and the Maine Jump$tart Coalition "a model of what organizations achieve when they work together to make a difference on an issue. This partnership is having a positive impact on the level of understanding and, more importantly, awareness about the need for financial education on the part of both youth and parents."

The Maine CU League and a number of credit unions are major contributors to the Council and are involved in schools throughout the State helping Maine children develop a better understanding of financial concepts, such as balancing a checkbook, budgets, developing savings plans, credit cards and debts. In 2006, this partnership helped to expose more than 7,000 Maine children to youth financial education.

During Maine Credit Union Youth Week (April 22-28, 2007), a number of Maine's credit unions, working with the Maine Council and Maine Jump$tart Coalition, will promote youth financial literacy to parents and children through the distribution of various materials and other special events and activities. Maine credit unions will also be hosting the fourth annual Youth Savings Challenge, a weeklong initiative aimed at encouraging youth to open a savings account and to educate youth about the value of savings. In 2006, Maine credit unions encouraged youth members to make more than $40,000 in deposits during the week.

The Desjardins Award is named in honor of Alphonse Desjardins, the founder of the North American credit union movement. It considers all activities supporting the personal finance education of young members and nonmembers, including, but not limited to, face-to-face teaching, publicity, lobbying for curriculum requirements, teacher and volunteer training, and promotion and use of the as well as use of the NEFE High School Financial Planning Program.