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March 2018
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Financial Education Award Winners Hail from Cornerstone Region
Thursday, March 8, 2018 7:00 AM

award winners
5Point Credit Union wins Second Place in the Desjardins Youth Financial Education Award asset category of $250 million to $1 billion, and Patterson Federal Credit Union wins First Place in the Dora Maxwell Social Responsibility Award asset category of less than $50 million.

At the CUNA Governmental Affairs Conference, award winners were announced for the Dora Maxwell Social Responsibility, Desjardins Adult and Youth Financial Education, Louise Herring Philosophy in Action, and CUNA Benefits of Membership awards. Several Cornerstone-region credit unions were honored for their terrific work as follows:

Patterson Federal Credit Union, Arkadelphia, Ark.
CUNA created the Dora Maxwell Social Responsibility Recognition Award to encourage and honor credit union and chapter involvement in community projects and activities. Dora Maxwell was a community activist who committed her life to credit union development, to her community, and to serving the underserved.

In the category of less than $50 million in assets, Patterson Federal Credit Union received First Place for Project CARE Feeds Hungry Kids. To reduce food insecurity, Patterson Federal Credit Union partners with the Arkadelphia Public School District—a district with a free or reduced lunch rate of 60 percent—to assist Project CARE providing food to children in need over weekends and breaks by sending home backpacks of food. The Arkadelphia, Ark.-based credit union collected more than 18,000 individual items for backpacks, providing food for more than 100 children per week for nearly the whole year.

Their efforts helped create community awareness about food insecurity, and the credit union estimates more than 500 people contributed to the food collection. Patterson also created a special account for donated funds and raised over $1,500 for counselors to use if they ran low on food for the backpacks. Once the backpack program was under way, the credit union continued its work to help relieve hunger in the community. Patterson sent volunteers each month to work in two local food pantries, advertised a summer youth lunch program, and sponsored a “Feeding Futures” fundraiser for the local Kiwanis organization.

award winner
Houston Police Credit Union wins First Place in the CUNA Benefits of Membership Award asset category of $250 million to $1 billion.

5Point Credit Union, Nederland, Texas
The Desjardins Adult and Youth Financial Education Award programs recognize leadership within the credit union movement on behalf of financial literacy for members and nonmembers of all ages. The award, named after credit union pioneer Alphonse Desjardins, emphasizes the movement’s long-time commitment to financial education.

In the category of $250 million to $1 billion in assets, 5Point Credit Union received Second Place. In the past year, 5Point has taught financial education in 14 schools within nine school district and partnered with four youth organizations and one university. Overall, it has taught 25,156 students in 4,170 presentations and provided the financial education curriculum to 30 schools and 14,650 students since 2008.

To provide access to a savings account, 5Point piloted a matched savings program, Scholar Dollars, at one elementary school. The credit union provided an initial deposit of $25 and matched every dollar saved up to $50 from October to June. Twenty-eight students opened accounts, saving $2,643.97 before the match savings were applied.

Houston Police Credit Union, Houston, Texas
The CUNA Benefits of Membership Awards recognizes credit unions that offer exceptional financial value to their members in the form of benefits. Credit unions submit their rates, fees, and account yields with their applications, and judges compare these figures to those of competing banks to determine the average savings per member. Credit unions that showcase exemplary value are recognized for their achievements.

In the category of $250 million to $1 billion in assets, Houston Police Credit Union took home the award for First Place for providing $970 in household benefits.

View more details on all award winners.