ONTARIO, Calif. (9/10/13)--The California and Nevada Credit Union Leagues recognized three credit unions with financial education awards.
The Golden 1 CU and Silver State Schools CU were honored with first-place state awards in the Louise Herring for Philosophy in Action Award program. Silver State and Mendo Lake CU received first-place honors in the state Desjardins Financial Education Awards.
The Golden 1 CU, Sacramento, Calif., won a first-place Louise Herring Award in the $1 billion-plus asset category for its college scholarship program for credit union members and their dependents. In its first year, the credit union awarded amounts of $1,000, $2,500, and $5,000 in renewable scholarships (covering up to four years of college) to 33 students, for a total award amount of $320,000.
Las Vegas-based Silver State Schools received a first-place award in the $250 million to $1 billion asset category for its Piggy Bank Project, a collaborative effort between the credit union, Bracken Elementary School, The United Way of Southern Nevada, Young Philanthropist Society, Junior Achievement, and Andson Foundation. The project is a combination of an on-campus bank, financial literacy in the classroom, and student homework designed to include parents. In the first year, students saved more than $18,000.
The Piggy Bank Project also earned Silver State a first-place Desjardins Youth Financial Educational Award in the more-than-$500-million-asset category.
Mendo Lake CU in Ukiah, Calif. received a first-place Desjardins Youth Financial Educational Award in the $50 million to $150-million asset category for its National Endowment for Financial Education (NEFE) financial curriculum and its Money Wise and Banzai programs.
The Banzai program, the newest component of MLCU's Community Financial Literacy Initiative, resulted in three classroom presentations and numerous teacher contacts made. MLCU has 183 students participating in the Money Wise program with a total of more than $22,500 in their savings accounts. In addition, MLCU's Harbor on Main partnership for the NEFE program earned the credit union an invitation to be a founding member of the Lake County Youth Coalition, whose goal is to provide access to resources focused on health, wellness and career opportunities for Lake County youth.
Each awards program is administered at the state level by the California and Nevada Credit Union Leagues, and nationally by the Credit Union National Association. Entries were submitted to the leagues and judged by a committee from the Mountain West Credit Union Association.
Each first-place winner's entry progresses to the Credit Union National Association's national award competition. The winners are honored at the 2014 CUNA Government Affairs Conference in Washington, D.C.