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Wisconsin CUs nab Governors Award for youth branches
PEWAUKEE, Wis. (3/10/09)--Wisconsin credit unions received their third Governor’s Financial Literacy Award for helping youth recognize the value of saving money, according to the Wisconsin Credit Union League. Individual credit unions receiving the award include Brokaw CU, Weston; Educators CU, Racine; STAR CU, Madison; and UW CU, Madison. Credit unions last received the award in 2008. “Wisconsin has gone far beyond many states in supporting financial education,” said Brett Thompson, president/CEO of the league. “Not only has the Department of Public Instruction defined competencies for personal finance that students should acquire prior to high school graduation, but the [Gov. Jim] Doyle administration has supported effective partnerships across the public, private and nonprofit sectors to advance financial education efforts without adding additional costs to taxpayers.” Wisconsin credit unions also operate 80 youth-run branches inside schools. The branches help students make deposits and withdrawals from savings accounts. Through the credit unions, students “avoid debt, complete their educations and become self-supporting members of the economy through regular saving and responsible borrowing,” Thompson said. “Young people have witnessed within their families the economic pain affecting our country,” Thompson added. “The fact they are saving shows they understand that the proverbial ‘rainy day’ is inevitable and it’s never too early to start building a financial cushion.”
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