Credit Union Receives Top Award

Cal Poly Federal Credit Union recently received first-place honors in the 2006 California Credit Union Leagues statewide Desjardins Youth Financial Education Awards program.

The awards program recognizes leadership within the credit union movement on behalf of youth financial literacy.

“It is critical to educate college students on how to manage their financial resources and give them the tools to equip them to make smart financial decisions that will impact their lives,” says Joy Tafaralla, vice president of the Cal Poly Federal Credit Union.

The credit union received recognition in the asset category of less than $20 million at the state level and their entry will advance to the national Desjardins Youth Financial Education Awards, overseen by the Credit Union National Association.

In 2005, the credit union received the prestigious youth financial education award at the state level and was honored at the national level for their asset category.

The credit union offers financial education programs for students and financial education outreach. In the last year, credit union staff conducted more than 50 workshops, reaching more than 9,800 students and 1,800 parents of incoming freshmen.

In November 2004, the credit union began a partnership with the Office of Financial Aid and Orientation Services to deliver presentations on financing college. The sessions provide freshman and transfer students with information about Financial Aid and tips on managing financial resources with a special emphasis on managing credit.

The award is named in honor of Alphonse Desjardins, the founder of the North American credit union movement, who established the first “caisse populaire,” or peoples bank, in Quebec in 1900. He helped establish the first American credit union in New Hampshire in 1909. Desjardins was an ardent believer in the value of teaching children to save, and he promoted the idea of in-school savings programs, or “caisses scolaires.”

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