FARMERS BRANCH, Texas, Oct. 24, 2012 /PRNewswire-USNewswire/ -- Generations Federal Credit Union in San Antonio and Tarrant County Credit Union in Fort Worth recently earned national recognition for their success in providing financial education to young people in their respective communities.
Both were honored with the Desjardins Youth Financial Education Award, given to credit unions that work to educate their members ages 18 and younger about personal finance concepts and skills.
"We are serious about helping students stay out of the debt cycle," noted Ashley Harris, assistant vice president of corporate communications at Generations FCU.
Generations FCU's "No Suckers Here" youth financial education program earned the credit union first place among credit unions in the $150-500 million in assets category. The program teaches students how to prepare for personal financial matters and how to avoid becoming a "sucker" to high-interest lenders.
Harris noted that San Antonio, along with other surrounding Bexar County communities, not only has the highest credit card debt of any major U.S. city, but that 25 percent of the population is either unbanked or "underbanked" – a trend they are determined to turn around, starting with their youth.
Tarrant County CU earned honorable mention in the $50-150 million in assets category for its efforts in working with Tarrant County to address the high school dropout rate and introduce technology to economically disadvantaged students. Leveraging a grant from the Texas Credit Union Foundation, Tarrant County CU added a financial education component to the county's Generation Hope Laptop Program that includes a financial literacy course designed to change the financial behavior of low-income youth and prepare them for fiscal responsibility.
"It's been one of the most rewarding efforts our credit union has tackled, because the students we work with face considerably greater challenges than those in higher and more stable income areas," said Tarrant County CU president/CEO Lily Newfarmer. "Whether or not they succeed will significantly affect the community we serve."
Both credit unions will be honored at the Credit Union National Association's upcoming Governmental Affairs Conference in Washington D.C.
About Texas Credit Union League
The Texas Credit Union League (TCUL) is the statewide trade association serving more than 500 credit unions in Texas. Organized in 1934, TCUL supports credit unions, not-for-profit, member-owned, volunteer-directed cooperatives, which in turn are owned by over 7.8 million members. For more information, visit www.tcul.coop.
SOURCE Texas Credit Union League