Virginia Credit Union’s Move to Online Education Breaks Records

20,167 participants in second quarter

CONTACT:
Glenn Birch
Director of Public Relations
Virginia Credit Union
glenn.birch@vacu.org

(Richmond, VA, July 9, 2020) – Three months after moving its in-person financial education programs online, Virginia Credit Union is breaking records for the number of individuals its programs are reaching.

More than 20,000 individuals attended a Virginia Credit Union financial education program in the second quarter of 2020.

Economic concerns brought on by the coronavirus and the ease of attending a workshop or seminar with a tablet, phone or home computer-enabled VACU to reach more individuals than any previous quarter.

Overall, Virginia Credit Union has reached 25,823 adults and 4,911 youth with its education programs so far in 2020. Most of the programs between January and early March were delivered in-person, while all 117 sessions in April, May and June were offered online only due to health concerns about gathering in groups.

“We have been struck by how readily people are tuning in for this information,” said Cherry Dale, Virginia Credit Union’s financial education director. “The real takeaway for us has been seeing the value of delivering solid personal finance information at a time when people especially need it.”

The economic slowdown brought on by the coronavirus has led to job loss, reduced hours, and family income loss as offices and companies have had to temporarily close or modify the way they do business. The anxiety has led more individuals to reevaluate their finances and adjust priorities.

The vast majority of the credit union’s second quarter’s attendees were adults. The most popular programs were sessions on “How to Read Your Credit Report” and “Navigating Through an Economic Crisis.”

Virginia Credit Union has long tracked the impact of its financial education programs. The credit union has four full-time educators on its staff who lead and coordinate sessions offered to members and employee, school, and community groups. Individuals register to attend the programs and Virginia Credit Union staff lead the sessions as webinars, which allows attendees to follow along and ask questions of the instructors.

The popularity of the online education programs likely means that more and more of the credit union’s education programs will be delivered that way in the future, even after the current health concerns have passed, explained Dale.

A financial cooperative serving more than 300,000 members, Virginia Credit Union offers a variety of affordable banking services, loans, mortgages, and free financial education resources, with a focus on helping people be more confident with their finances. Virginia Credit Union is an equal housing opportunity lender and is federally insured by NCUA. For more information, visit www.vacu.org.

# # #