VACU Financial Education Programs Reach More Participants Than Ever

Virginia Credit Union’s financial education workshops on coping financially during a pandemic, eliminating debt, managing expenses, creating a budget, and improving credit reached far more individuals in 2020 than ever.

Total participation in the credit union’s webinars and workshops reached 62,745 in 2020, a 58 percent jump over 2019.

Economic anxiety caused by the coronavirus combined with strong partner organizations helped fuel the rise in participation. A new program with the Virginia Department of Human Resource Management enabled 14,000 state employees to attend financial education classes in 2020. And nearly 4,000 college students were reached during the Fall semester as part of the Virginia Credit Union Financial Success Center at VCU.

In early Spring, COVID-19 forced cancellations of in-person seminars and workshops, so VACU shifted its approach to online programs. Financial education is a major priority for the credit union, which employs four full-time educators on its staff.

In 2020, Virginia Credit Union was named a Financial Health Leader by the Financial Health Network, a national group of 163 nonprofit, government, research, policy, fintech and financial services organizations that are committed to improving the financial health of customers, employees, and communities. VACU was also recognized nationally for a program for inmates that increases participants’ money management skills and makes it more likely they will succeed on the outside.

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

A financial cooperative serving more than 300,000 members, Virginia Credit Union offers a variety of affordable banking services, loans, mortgages, and free financial education resources, with a focus on helping people be more confident with their finances. Virginia Credit Union is an equal housing opportunity lender and is federally insured by NCUA.