Virginia Credit Union, Member One Partner with State Trade Group to Sponsor Financial Education and Counseling for Medical Professionals Beginning Their Careers

Virginia Credit Union and its Member One division are sponsoring a series of webinars and workshops across Virginia that will provide financial education and free financial counseling to support medical students and doctors starting their careers.

"No matter where we are on our financial journeys, one thing is true: We would all benefit from the knowledge and skills necessary to make informed financial decisions, because we'll all face challenges," said VACU's Cherry Dale, Senior Vice President of Financial Education. "For many medical students and new doctors, the cost of medical school and the often substantial debt that follows are only part of the equation. There are numerous other financial hurdles, including the expense of training, limited earning potential early in their careers, and difficulty saving for retirement due to debt burdens. Through our sponsorship of the Medical Society of Virginia's Thrive program, we'll help provide future and current medical professionals with the education they'll need to meet their financial challenges head-on."

The Medical Society of Virginia's (MSV) Thrive program offers five on-site, in-person workshops and five webinars, each designed to help medical students and professionals better navigate their financial futures.

"Over 70% of medical school graduates in Virginia carry educational debt, with an average debt nationally exceeding $230,000. This significant burden is a leading contributor to physician burnout, which in turn leads to increases in medical errors and physicians leaving the profession, as well as a decline in the quality of care," said MSV CEO and Executive Vice President Melina Davis. "Recognizing this critical issue, the Medical Society of Virginia is committed to ensuring that Virginia remains the best place to practice medicine and receive care. Our partnership with Virginia Credit Union is a testament to our dedication to achieving this goal. We are proud to be providing this valuable resource to our members, confident that it will be a rewarding initiative."

VACU and its Member One division offer a wide range of financial education, training, and resources, including professional financial counseling, investment seminars, and homebuying workshops, as well as educational offerings that address the unique financial needs of women.

Education and assistance for college students have also been a priority for the credit union. In partnership with Virginia Commonwealth University, the credit union established the endowed Virginia Credit Union Financial Success Center at VCU, promoting financial health within the VCU and Richmond communities. At VCU, the center's primary program is peer-to-peer student counseling related to budgeting, saving, credit, student loan repayment, career transitions, insurance, and investing.

Member One is contributing a total of $50,000 during the next five years to support the Henrietta Lacks Excellence in Medicine Scholarship at the Virginia Tech Carilion School of Medicine. The scholarship offers financial support to Carilion School of Medicine students who are members of an underrepresented population in the medical field.

About MSV
The MSV is a professional association with 10,000 members. The MSV is the only association representing all medical doctors and doctors of osteopathy, regardless of specialty or type of practice setting, in Virginia. Dedicated to Virginia's physicians and their patients, the MSV provides administrative, membership, and legislative services to its members and serves as the liaison between local, national, and specialty medical organizations. Learn more.

About Virginia Credit Union & Member One
A financial cooperative serving almost 500,000 members, Virginia Credit Union and its Member One division offer 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 and its Member One division are equal housing opportunity lenders and are federally insured.