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Generations FCU Collaborates with Alamo Colleges to Celebrate National Financial Literacy Month
Thursday, April 18, 2013 6:20 AM

As part of April’s National Financial Literacy Month, Generations FCU has partnered with all five of the Alamo Colleges to bring financial education classes to their campuses.  Generations will teach dozens of financial education classes to hundreds of students at Palo Alto College, San Antonio College, St. Philip’s College, Northeast Lakeview College and Northwest Vista College.  Budgeting, money management, credit reports and paying back student loans are among topics to be covered in the classes.

In partnership with each college’s financial aid office, students who attend these and other financial education classes throughout the month of April will be enrolled to win a weekly financial award.  For example, the Palo Alto College Financial Aid Department is giving away eighty (80) $250 awards throughout the month, for a total of $20,000.

“Between work, school and family, students lead very busy lives and oftentimes their finances are not a high priority until it’s too late,” said David Rodriguez, Generations FCU financial education advocate.  “By partnering with all the Alamo Colleges and by offering an award, it encourages students to attend; and when they do, we can provide those messages of financial responsibility that will help them stay on a strong financial path.”

Research indicates that only 34 percent of parents have taught their child how to balance a checkbook and 81 percent of college students have underestimated (by a large margin) how long it will take to repay credit cards and other debt.  Additionally, according to a 2011 study by Experian, San Antonio has highest rate of credit card debt of any city in the U.S. and some of the lowest credit scores.

Generations FCU was recently named as the recipient of the National Desjardins Youth Financial Education Award.  GFCU’s “No Suckers Here” program has been recognized for teaching students the importance and value of financial literacy in an engaging and fun environment.  The Student Life Team works with individual schools and administrators to determine the financial needs of their student body, and then develops a financial education program tailored to those needs.