PremierOne Credit Union Wins $1,000 Grant for Young Adult Program

SAN JOSE, Calif., Aug. 14, 2013 /PRNewswire/ -- Personal finance website NerdWallet recently announced the winners of their 2013 Gen Y Credit Union Contest. This unique initiative challenged credit unions across the country to come up with new programs to engage their young adult members. Contest participants also wrote a financial literacy "commencement speech" for the graduating class of 2013.

PremierOne Credit Union, with branches in San Jose and Santa Clara, California, was awarded the $1,000 prize for a credit union with under $500 million in assets, for their young adult website and outreach initiative. Their virtual Credit Zone, which includes Gen Y-friendly financial literacy videos, articles, a blog, an interactive quiz and a mobile app, teaches young adults how to manage their finances, especially their credit score. PremierOne plans to use the prize money to continue developing original content for the site, and developing creative marketing strategies to engage college students and young adults.

"We are hopeful our Credit Zone initiative will reach young adults in an innovative and impactful way." Andrea Brewer, PremierOne Credit Union President and CEO said. "Being recognized by NerdWallet as part of their Gen Y contest will go a long way in helping our initiative."

NerdWallet's judges were impressed by the Credit Zone's Web site layout and seamless use of social media. Joseph A. Peri, president of Junior Achievement of New York, also noted that he liked the clever way the site presented advice, such as "the use of the SMART acronym as advice points."

The Gen Y Credit Union Contest encouraged not-for-profit credit unions, which are already active in promoting financial literacy, to develop new ways to reach young people. According to a 2011 Capital One survey, only 43% of graduating seniors put money into a savings account on a monthly basis or more, and 60% are worried about their ability to repay their loans. NerdWallet believes that these, and countless other statistics, demonstrate a real need for young adult financial education.

To read more about PremierOne Credit Union's Credit Zone, visit premieronecu.org/CreditZone. To read more about the NerdWallet's contest and the winning credit unions, visit the contest homepage.

About PremierOne Credit Union

PremierOne Credit Union formed in April, 2013 from the merger of two Credit Unions with a combined 120 years of dedicated member service. The best of each Credit Union was selected to provide members a more premier experience. Located in Santa Clara County, PremierOne Credit Union has four full-service branches with access to 30,000 CO-OP ATMs and over 6700 Shared branches nationwide. More information can be obtained at premieronecu.org.

About NerdWallet

NerdWallet specializes in helping everyday consumers make smart financial decisions through product comparison tools and studies. They recommend credit unions because they often offer the most competitive rates on loans and low-fee deposit accounts, making them a smart choice for young adults.

Contact:
Sara Karam Holtz Ι [email protected]
Laura Edgar Ι [email protected]

SOURCE PremierOne Credit Union