For the second year in a row, CommonWealth One Federal Credit Union has won first place in the Desjardins Financial Education Awards program in the youth category.
“We are honored to be recognized two consecutive years for our efforts to provide financial education to students in our communities,” said Charlotte Cash, President and CEO of CommonWealth One. “Helping students develop an understanding of financial tools and management skills will prepare them to make sound financial decisions in the future.” CommonWealth One was honored for its ongoing efforts to educate youth about responsible personal financial practices.
CommonWealth One is an Alexandria City (Virginia) Public Schools Community Partner, offering seminars at local schools, community centers, libraries and business centers with financial literacy materials developed primarily in-house. In addition, the credit union offers monthly Credit Union (CU) Days at select Alexandria City public elementary schools, which are deposit-only savings days that give students a chance to save for a better future during school hours.
CommonWealth One is also a partner of The Centsables Youth Program, the Banzai Financial Literacy Program and offers youth accounts that come with educational programs targeted at certain ages. The credit union is also the only on-campus credit union at James Madison University in Harrisonburg, Virginia.
This summer, CommonWealth One also started the youth Home Run Reading Challenge, rewarding local youth with cash for reading books with themes around responsible spending and saving.
The Credit Union National Association (CUNA) created the Desjardins program as a way to honor credit union leaders working to educate members. The award was named for Alphonse Desjardins, who founded the first credit unions in the United States and Canada, and was a champion of financial education, youth savings clubs and school-based “banks.” CommonWealth One was honored for its ongoing efforts to educate youth about responsible personal financial practices
This is the second year in a row CommonWealth One has won first place in the Desjardins program for its youth education programs.