California Credit Unions Support Financial Education and CMN Hospitals
September 18, 2015
Pleasanton, CA-based Patelco Credit Union recently received first-place honors at the state level in the Louise Herring for Philosophy in Action Award, Dora Maxwell Social Responsibility Community Outreach Award, and the Desjardins Youth Financial Education Award programs. Meanwhile San Diego, CA-based California Coast Credit Union received first-place honors in the state in the Desjardins Adult Financial Education Award.��
All entries have move forward to compete in the national credit union recognition programs.
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Patelco CU won a first-place Louise Herring Award in the $1 billion-plus asset category for its Re.look program idea, which could give members who are declined for loans across the credit union industry an opportunity to fix their credit. The concept proposes to walk would-be borrowers through a laser focused approach wherein they receive the coaching needed to improve their credit enough to successfully reapply for a loan. The idea was recognized as a winner of CO-OP Financial Services and IDEO's THINK 15 Financial Empowerment Challenge. To learn more about Re.Look, go tohttps://openideo.com/challenge/financial-empowerment-challenge/refinement/re-look-turning-credit-union-members-declined-loan-applications-into-approvals.
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The credit union also received a first-place Dora Maxwell Award in the $1 billion-plus asset category for its outstanding support of Children's Miracle Network Hospitals. The credit union has contributed $25,000 annually for the past three years and is working with CMN on a large project which will help children rehabilitate from debilitating medical setbacks. Children's Hospital Oakland recently nominated Patelco for The East Bay Leadership Corporate Philanthropy Award.
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Patelco received a first-place award in the Desjardins Youth Financial Education Award in the more than $500-million asset category for its variety of programs, including its involvement with the Richard Myles Johnson Foundations Bite of Reality interactive finance education program and Berkeley High Schools RISE (Responsibility, Integrity, Strength and Empowerment) Program, dedicated to the social and academic advancement of at-risk teenagers. Patelcos Community Outreach Officer Sharon Tallon and Financial Literacy Specialists Veronica Dangerfield and Luis Jara are dedicated to empowering people in Patelco's communities through financial education.
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"Placing key focus on tackling the issues of housing, hunger and lack of financial education in the Bay Area, our newly launched social responsibility strategy aims to impact the communities we serve with giving that is both strategic and self-replicating," said Community Outreach Manager Nicole Lopez-Conti. "We are striving to increase the scale of their impact to local communities and believe that when people are financially empowered, communities thrive."
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California Coast CU won a first-place award in Desjardins Adult Financial Education Award in the more than $500-million asset category for its work in providing financial education to adults in the community. More than 20 staff membersincluding certified financial counselors, community relations, marketing, and business development employees, and branch managershave assisted with educational events. The credit union has hosted a number of workshops on topics such as budgeting and Credit 101. In the past year, 287 members took advantage of Cal Coasts free counseling services. In addition, the credit union recently began to broadcast financial tips on local radio and TV. CEO Todd Lane or another member of management is interviewed on-air on a local San Diego channel where they share pertinent financial information and advice. Cal Coast also sponsors 10-14 financial tips to air on one TV and two radio stations each month.
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Each awards program is administered at the state level by the California and Nevada Credit Union Leagues, and nationally by the Credit Union National Association. Entries were submitted to the Leagues and judged by a committee from the Mountain West Credit Union Association.
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The Dora Maxwell Award honors credit unions for their community outreach efforts. The Louise Herring Award honors credit unions for practical application of the philosophy of "People Helping People" within the actual operation of the credit union. The Desjardins Youth Financial Education Awards recognize activities supporting the personal finance education of young members and nonmembers, while the Desjardins Adult Financial Education Awards honor credit union efforts to educate adult members and nonmembers. Only first-place winners in each asset category advance to the national competition.
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