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Summit Credit Union Receives Governor’s Financial Literacy Award

March 7, 2017 Financial cooperative honored for annual Project Money programMADISON, Wis.— Summit Credit Union was named a recipient of the 2016 Governor’s Financial Literacy Award last month in honor of Project Money, its annual financial competition that recently concluded its eighth season.Project Money is a financial challenge that sees four teams paired with a Summit financial coach for seven months, identifying strategies to increase savings and reduce debt. Sharing their journey via Summit’s website, social media and Madison’s NBC15 along the way, the winning team receives $10,000 from Summit Credit Union, while the remaining three teams receive $2,500.Selected by Governor Scott Walker’s Council on Financial Literacy, the member-owned financial cooperative was one of just eight organizations across the state to receive the award. The council noted Project Money’s success with increasing community awareness of financial literacy, financial capability and financial wellness, along with its tenured partnership with Madison’s NBC15. Through eight seasons, the program has collectively helped 32 participants increase savings by $278,539 and decrease debt by $335,157.“We started Project Money in 2009 with the goal of helping educate people about how to take control of their finances and improve their lives by following the real life journeys of our participants,” said Summit Credit Union CEO & President Kim Sponem. “We’re very excited to be honored for helping our entire community learn from the hard work of our Project Money participants.”Established in 2011, the mission of the Governor’s Council on Financial Literacy is to measurably improve the financial literacy of Wisconsin citizens. Criteria considered during the evaluation process include innovative implementation, demonstration of measurable results, collaboration with area partners and the effort’s focus on needs-based groups.For more information about the Governor’s Council on Financial Literacy, visit . You might also be interested in Summit Credit Union named Top Workplace in Madison, Milwaukee, and U.S., recognized for strong culture, engagement, and employee benefits... Summit Credit Union helps Wisconsin families achieve homeownership with up to $10K in down payment assistance... Summit Credit Union’s President and CEO Kim Sponem was recently featured on the Women of Community Banking podcast... Summit welcomed thousands of members and their families to Warner Park for its annual Summit Fest, blending its official Annual Meeting of the Membership... Summit Credit Union names Mike McCoy Chief Commercial Officer to advance commercial banking and support Wisconsin businesses... With $87 million in member benefits, Summit Credit Union remains the nation’s #1 credit union for Return of the Member... Summit Credit Union partners with LOVB Madison Volleyball to empower women athletes and advance equity in sports and finance... Kim Sponem calls for equitable pay practices, warning that lifetime pay gaps leave women at greater risk of retirement insecurity... Summit Credit Union earns the #1 national Return of the Member ranking again, highlighting its strong member value and financial impact...