Copy of Programs Promoting Youth Savings, Women’s Financial Well-Being Earn Virginia Credit Union State-Level Awards

Virginia Credit Union, a recognized state and national leader in financial education, has won two first-place Desjardins Financial Education Awards from the Virginia Credit Union Association.

The Association is the statewide trade association for the Commonwealth's credit unions. The organization's Desjardins awards are given annually to recognize credit unions' leadership, innovation, and creativity in offering programs and services focused on youth and adult financial education.

"Financial education is a pillar of our mission to serve members and our communities," said VACU Senior Vice President of Financial Education Cherry Dale. "Helping people live more confidently by providing education, tools, and resources that empower them to make informed financial choices is why we exist."

This year’s first-place Desjardins Awards add to an impressive run for VACU, which has earned 11 state and national financial education awards, including four national honors, since 2021.

VACU's first-place Desjardins Youth Financial Education Award recognized the credit union's "RPS Saves" program, an initiative to educate K-12 students about saving for the future. Participating students were allowed to open a savings account, incentivized with a $20 deposit from VACU. "RPS Saves" reached 5,805 students, representing 44 of Richmond City's 54 elementary, middle, and high schools.

More than 130 adult volunteers, including VACU staff and Virginia Commonwealth University college students, were enlisted to support the effort. The volunteers offered lessons on personal finance and money management basics.

In addition, VACU leveraged partnerships with other programs and organizations to promote and augment the success of "RPS Saves." Junior Achievement, Boys and Girls Clubs of Metro Richmond, and various Richmond City agencies were among the key partner organizations.

VACU's first-place Desjardins Adult Financial Education Award honored the credit union's Financial Success for Women Summit, which drew more than 250 participants for its first in-person event and featured award-winning personal finance columnist and author Michelle Singletary. Virginia First Lady Susan S. Youngkin shared opening remarks.?

The Summit was a platform for women to gain practical insights into money management and personal finance strategies, share experiences, and connect with peers and mentors who could guide them on their financial journeys. Research shows that women are falling farther behind men with regard to their "financial health."

Participants heard from keynote presenters and attended breakout sessions on a variety of financial education topics. The Summit was in partnership with the Federal Reserve Bank of Richmond and the VCU Financial Success Center by VACU , which was recently named the 2024 Outstanding Financial Counseling/Planning Center by the Association for Financial Counseling & Planning Education.

VACU will host two Financial Success for Women Summits in 2025. The Richmond event will be held April 15 at Hilton Short Pump. The Roanoke event will be held Sept. 22 at Hotel Roanoke. Look for registration details in the coming months.