April 24, 2008 The Maine Credit Union League and Maine's credit unions continue to go where no others have gone by receiving an unprecedented sixth 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 celebrate the 7th Annual Maine Credit Union Youth Week (April 20-26), 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 "being proactive in helping Maine children better understand money management and personal finance."
"The Maine Credit Union League and Maine's credit unions are applauded for taking a leadership and visionary role for their youth financial education outreach initiatives and efforts. Part of youth financial education involves awareness and Maine's credit unions do an outstanding job of raising awareness about how important it is for children to better understand personal finance across Maine with parents, teachers and children. Because of what the Maine Credit Union League and Maine's credit unions are doing, 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 Maine CU League and a number of credit unions coordinate Financial Fitness - Money Management Experience Fairs, which are similar to an interactive game of life and gives high school students participating an opportunity to gain some 'real' world understanding of money management. There are now four major fairs in northern, eastern, central and southern Maine as well as several smaller ones in various parts of the state. Maine credit unions are also actively 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 2007, this partnership helped to expose more than 8,000 Maine children to youth financial education.
During Maine Credit Union Youth Week (April 20-26, 2008), a number of Maine's credit unions, will promote youth financial literacy to parents and children through the distribution of various materials and other special events and activities. Maine credit unions are 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.
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.
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