Cal Poly Federal Credit Union Receives Beacon Award

Cal Poly Federal Credit Union Receives Beacon Award
Cal Poly Federal Credit Union employees are proud to receive the 2005 Beacon Award for offering financial literacy workshops to Cal Poly Pomona students.

The Cal Poly Federal Credit Union (CPFCU) has received the 2005 Beacon Award from the Richard Myles Johnson (RMJ) Foundation for its financial literacy workshops offered to Cal Poly Pomona students. The award was presented to CPFCU CEO Barbara Argo on Oct. 23 during the second annual Beacon Award Gala at the Disneyland Hotel and Resort in Anaheim.

The Beacon Award is the highest honor awarded to credit unions, individuals and nonprofit organizations in the states of California and Nevada recognizing exemplary efforts in financial literacy.

CPFCU was one of 10 nominees honored. Award winners presented their financial literacy programs at a symposium prior to the gala. Both events kicked off the 2005 California & Nevada Credit Union League's Conference.

“Cal Poly Federal Credit Union is to be commended for its dedication to being a resource to students and to the community at large,” said David L. Chatfield, league president and CEO. “These workshops provide students with the fundamentals on personal money management and prepare them to make sound decisions when it comes to managing their finances.”

In 13 months, CPFCU delivered nearly 40 workshops on financial literacy reaching more than 5,890 students and 1,560 adults. The personal finance workshops helped to prepare students to make sound decisions when it comes to managing their financial resources. The credit union partnered with Upward Bound and the Renaissance Scholars program to provide money management workshops to “at-risk” high school students and young adults emancipated from the state foster care system. CPFCU also worked with the Office of Financial Aid and Orientation Services to give presentations on financing college.

The RMJ Foundation's vision is to help adults and youth understand basic economic principles and develop the decision-making skills needed to be informed citizens, productive employees and wise consumers. In 2004, the foundation awarded CPFCU a $1,400 community service grant that was used to print support materials and handouts for the financial literacy workshops.

This is the second award the CPFCU has received in recognition of promoting youth financial literacy. Earlier this year, the credit union was awarded first place for California Credit Union League's statewide Desjardins Youth Financial Education Award.