MADISON, Wis. (1/10/12)--Bill Cheney, president/CEO of the Credit Union National Association (CUNA), said the Wisconsin Governor's Council on Financial Literacy's naming of CUNA's Money Mission LLC as a recipient of the 2011 Wisconsin Financial Literacy Award points to the essence of credit unions' core principles.
"Financial education is a core operating principle of credit unions, and one that state and federal lawmakers pay close attention to," Cheney said. "Projects like Money Mission increase awareness of credit unions and their values, and demonstrate credit unions' commitment to the community and long-term financial health of their members."
Money Mission, the Wisconsin Credit Union League and Madison, Wis.-based UW CU were recognized for efforts to improve the collective knowledge of personal finance among Wisconsin citizens. See News Now articles on the awards on Dec. 21 and Dec. 27 by using the links.
Money Mission is an interactive, Web-based simulation designed to educate young adults about the fundamentals of personal finance. It is not a series of tutorials, but rather a journey built from the most basic concepts of value and money through complex issues such as taxes, inflation and globalism.
Money Mission and the other recipients were selected from 45 nominations submitted for consideration. Criteria used in the screening process included innovative implementation, demonstrated measureable results, collaboration with partners, whether the effort was statewide or had the potential to be statewide and whether the effort was focused on needs-based groups.
"The recipients of the Wisconsin Financial Literacy Award are helping Wisconsinites of all ages improve their personal finance skills in our schools, in the workplace and in communities across the state," said Wisconsin Gov. Scott Walker. "These citizen leaders equip students, parents, peers and consumers with the necessary tools to make informed decisions about their own money, which improves individual quality of life, as well as the Wisconsin economy."
The results of Money Mission have been measured by the degree of participation and engagement. Almost 30 credit unions in Wisconsin participate, and nearly 4,000 students in more than 40 states have signed on for Money Mission in about a year of operation. The program is available through credit unions nationwide and is accessible to any interested participants. The initiative has helped several students realize their college dreams through its scholarship awards, CUNA said.