Suncoast Credit Union Supports Financial Literacy
November 14, 2014
TAMPA, Fla. � Suncoast Credit Union was awarded the Desjardins Youth/Adult Financial Education Award, a distinction conceived by the Credit Union National Association (CUNA) to recognize organizations for youth/adult financial literacy leadership within the credit union movement.�
Awarded annually on a league level and a national level, the Desjardins Youth/Adult Financial Education Award was named after Alphonse Desjardins, a forerunner of North American credit unions and community banks, and the pioneer for youth savings clubs and in-school "banks," known as caisses scolaires.
A panel of judges from the League of Southeastern Credit Unions (LSCU) analyzed "Biz Kids Money Bo$$," a financial literacy program used by Suncoast Credit Union to engage students between the ages of seven and 12 on topics such as financial literacy and entrepreneurship. With amplified data about below average financial literacy scores among students, Youth Marketing Manager Juli Lewis and Youth Marketing Specialist Chris Townsend of Suncoast Credit Union revised the program to fit the needs of students and teachers in southwest Florida and instituted pre-and post-tests to determine the retention of financial literacy information among youth. On average, scores increased by 50 percent following the completion of the program.
"We believe all youth should have access to financial literacy, and were grateful to be recognized in this manner from the LCSU," says Juli Lewis, youth marketing manager at Suncoast Credit Union. "Were excited that our submission will now go on to CUNA for national judging."
In a 2013 study conducted by the National Foundation for Credit Counseling, 40 percent of American adults would grade themselves a C, D, or F for their knowledge of personal finance, making the need for Suncoast Credit Union to provide financial education to youth more important than ever.
"Suncoast Credit Union is very deserving of the Desjardins Youth/Adult Financial Education Award. They have been able to take the Biz Kids Money Bo$$ concept and enhance it with real-world experience. Learning about money and budgets is not always fun. Suncoast Credit Union found a way to bring the series alive and help instill entrepreneurship into the kids. Each of them now has a greater understanding of what it takes to not only operate a business, but to start one," says Patrick La Pine, president/CEO, LSCU & Affiliates.
When selecting an award recipient, the independent panel of judges reviews all activities supporting the personal finance education of members and nonmembers. Financial literacy activities include: face-to-face teaching, publicity, lobbying for curriculum requirements, teacher and volunteer training, and promotion and use of various financial literacy programs.
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About Suncoast Credit Union
Suncoast Credit Union is the largest credit union in the state of Florida, the ninth largest in the United States based on membership and the 9th largest in the United States based on its $5.8 billion in assets. Chartered in 1934 as Hillsborough County Teachers Credit Union, Suncoast Credit Union currently operates 56 full-service branches and serves more than 600,000 members in the following Florida counties: Charlotte, Citrus, Collier, DeSoto, Glades, Hardee, Hendry, Hernando, Highlands, Hillsborough, Lee, Levy, Manatee, Pasco, Pinellas, Sarasota and Sumter. For more information visit:�suncoastcreditunion.com�facebook.com/SuncoastCreditUnion�or @SuncoastCU.