League Announces State-Level Social Responsibility Award Winners

Seven credit unions from across the Commonwealth have earned 1^st Place honors in the Virginia Credit Union League’s 2019 Social Responsibility Awards.

The awards honor the work of credit unions at the state level in the areas of member service, financial education and community service. Each of these 1^st Place entries will now compete against peer credit unions from across the nation in the Credit Union National Association’s national competition.

“Service to our members and community is what defines the credit union system,” said Rick Pillow, president of the Virginia Credit Union League. “These award-winning credit unions and their commitment to our ‘People Helping People’ philosophy exemplify the best of the Credit Union Difference, continuing our proud tradition of educating consumers about using and managing money, strengthening our communities, and ensuring the financial success of our member-owners.”

Congratulations to the following credit unions:

Desjardins Youth Financial Education Award for excellence in youth financial education

• Fort Lee Federal Credit Union (1^st Place, $50-million-to-$250-million-asset category)
  The credit union provided 102 financial literacy presentations at 21 schools, worked with 17 community partners on financial education initiatives, attended 11 career and financial literacy fairs, and held its first financial literacy summer camp. By augmenting its financial literacy program, the credit union was able to increase its interactive offerings and boost engagement with local school systems, allowing it to reach 2,267 young people with lessons on money management basics.
• CommonWealth One Federal Credit Union (1^st Place, $250 million-to-$1 billion)
  CommonWealth One’s entry focused on its efforts to reach students in grades 5 through 12 with lessons on the importance of good credit, money management, social media financial scams and first-time car buying. The credit union was able to reach 1,418 young people through its various programs and partnerships.
• BayPort Credit Union (1^st Place, $1 billion-plus)
  The credit union was recognized for its “Bite of Reality” app, which gives students a taste of real-world budgeting and household financial management by building a monthly budget and managing that budget in the face of life’s challenges. The addition of this new learning tool allowed the credit union to reach more students than ever before – almost 14,000 -- adding to a program that already boasts more than 50 student-run credit union branches that give students a convenient and safe place to save money.

Desjardins Adult Financial Education Award for exemplary adult financial education initiatives

• Fort Lee Federal Credit Union (1^st Place, $50-million-to-$250-million-asset category)
  Through 40 personal finance seminars, the credit union reached 552 adults on a variety of topics, including understanding taxes, avoiding financial pitfalls, budgeting, credit scores, financial considerations related to healthcare and much more.
• BayPort Credit Union (1^st Place, $1 billion-plus)
  The credit union leveraged its SmartCents financial education program to offer members the chance to win thousands of dollars to pay down their debts through its “$50,000 Debt Paydown” sweepstakes. Participants earned entries in the sweepstakes by completing various lessons through SmartCents on borrowing, saving and budgeting. The credit union also hosted personal finance-focused community events as part of its partnership and sponsorship with the Newport News One City Half Marathon.

Dora Maxwell Award for excellence in community service and outreach

• 1^st Advantage Federal Credit Union (1^st Place, $250 million-to-$1 billion asset category)
  The credit union’s award-winning entry spotlighted its 1^st AIDE (Assistance, Inspiration, Dedication and Experience) Day in which the credit union spends the Columbus Day holiday aiding local non-profits. The credit unions many projects included the donation of 1,200 pounds of food and $2,938 to the local food bank; the donation and wrapping of 450 gifts for the children of military families; collecting pet food and newspapers for the local pet shelter; built picnic tables for Habitat for Humanity; and provided help to the local hospice for children.
• DuPont Community Credit Union (1^st Place, $1 billion-plus)
  DuPont Community also spent the Columbus Day holiday volunteering 1,200 hours in support of 22 local non-profits and community groups, including Valley Hope Counseling, the New Bridges Immigrant Resource Center and Rockbridge Area Hospice.

Louise Herring Philosophy In Action Award for excellence in member service

• Peoples Advantage Federal Credit Union (1^st Place, $50 million-to-$250 million asset category)
  The credit union’s award-winning entry focused on its credit coaching services, which helps members boost their credit scores through financial coaching, an analysis of the member’s credit score and development of strategies to improve that score. Through the program, participants increased their credit score an average of 22 percent.
• Henrico Federal Credit Union Credit Union (1^st Place, $250 million-to-$1 billion)
  Henrico Federal Credit Union’s marketing and financial education departments teamed up to create the credit union’s Kids Club program – a fun, engaging program for kids aged 12 and younger. The program’s three mascots coach kids on financial responsibility, spending wisely and the importance of saving for the future.

These state-level award winners will be honored in November at the Virginia Credit Union League’s Annual Awards Program.