Local Credit Union Recognized For Youth Financial Education
December 10, 2018
National recognition has been bestowed on a local financial institution.
In November, LOC Federal Credit Union was named the 2nd place winner of the Desjardins Award by the Credit Union National Association for its asset category. Officials say the award honors leadership within the credit union movement on behalf of youth and adult financial literacy and is named after Alphonse Desjardins, a credit union pioneer known for introducing youth savings clubs and in-school "banks.”
In order to be considered for the national award, LOC first won at the state level in its asset category. This was the second consecutive year LOC received a first-place state award. LOC’s award entry this year highlighted several factor, including growth in its 21-branch student-run credit union program that saw a 36% increase in dollars saved and a 44% increase in new accounts compared to the previous year. LOC also held eight financial reality fairs over four school districts impacting 1,400 students (pictured is one from Howell High School in October) and partnered up with local libraries for financial education programming during summer recess. LOC will be formally recognized at the CUNA Government Affairs Conference in March. (JK)