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VACU financial education reaches 17,289

VACU staff at Will Wade Basketball Camp(Richmond, VA – January 1, 2017) – More than four in ten Americans worry about paying their monthly bills. Nearly half of Middle Class Americans have little or no savings for emergencies. Two-thirds of Americans worry whether they’ve saving enough for retirement.

Concerns like these led Virginia Credit Union to make financial education a major priority for its members and the community. Since the credit union hired a full-time financial education director several years ago, the number of individuals reached has grown rapidly. The number reached in 2016 was the most ever.

This year 17,289 individuals of all ages participated in financial education programs offered by Virginia Credit Union at schools, workplaces, public libraries and VACU facilities. The number represents an increase of 21% over 2015.

“Helping people learn to manage their money and develop greater confidence with financial matters is central to our credit union,” said Chris Shockley, VACU President and CEO. "We see financial education as a core value and we look for ways to include it in every member interaction and every community initiative.”

Virginia Credit Union now has four full-time financial education professionals on its staff. The credit union offers week-long money camps for teens, adult seminars in budgeting and reducing debt, workshops for teachers, and programs to educate first time home buyers. Lesson plans developed by VACU Financial Education Director Cherry Dale, a former public school teacher, cover the basics of budgeting, saving, borrowing, and what to know before a making a major purchase, such as a car.

Young people — reached through nearly 300 workshops at schools, with Girl Scout troops, teen money camps and other programs — accounted for nearly half of the participants last year.

A financial cooperative serving more than 251,000 members, Virginia Credit Union provides a variety of affordable banking services, loans, mortgages, and financial education resources. Virginia Credit Union is an equal housing opportunity lender and is federally insured by NCUA. 

Media Contact: Glenn Birch | glenn.birch@vacu.org | (804) 560-5664