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Summit Credit Union Honored for Advancing Adult Financial Literacy

MADISON, WI – September 16, 2016 ­­­– Summit Credit Union has been awarded a state-level 1st Place Desjardins Award from the Wisconsin Credit Union League for excellence in adult financial education. The credit union was honored because it:

  • Reached over 5,000 members and community members with 225 free education events in 2015
  • Started the eighth year of its annual Project Money program; a reality based financial challenge where four participants/families strategize to increase savings and reduce debt with an assigned financial coach. Participants also share their stories with the community
  • Hosts a variety of events like CUatWork program sessions for employees of workplace partners, Red SHOES workshops that speak to the financial concerns of women, and public seminars and internal training programs. 

“Teaching responsible money management helps a credit union fulfill its mission as a not-for-profit financial cooperative owned by its members,” said League President & CEO Brett Thompson. “Because credit unions have no shareholders – just members whose financial well-being drives the institution’s decision-making – efforts like this are tangible return of value to the depositor-owners.”

“It’s an honor to be recognized by our peers for doing what we believe in – helping to educate people about making wise financial decisions and owning their financial well-being ,” added Summit Credit Union President/CEO Kim Sponem.

First place award winners advance to national-level judging among similar-sized institutions.

The award is named after Alphonse Desjardins, who founded the first credit unions in Canada and the U.S. in the early 1900s. This pioneer of the credit union movement first popularized youth savings clubs and in-school credit unions.