Cal Poly FCU First California CU to Win Desjardin Award
POMONA, Calif. - Cal Poly Federal Credit Union, an $11-million institution that serves students, staff, faculty and alumni of the California State Polytechnic University-Pomona campus, was honored in the national Desjardin Youth Financial Education Awards. Cal Poly FCU is the first California credit union to be honored by the CUNA-administered program, which recognizes credit union efforts to improve youth personal finance education. The institution was a winner in the $20-million and under asset category, recognized for its financial education work with Cal Poly Pomona students, as well as high school students in the Pomona area. "This is a great accomplishment for our credit union and we are very proud of our collection of work on financial literacy," said Barbara Argo, Cal Poly FCU President and CEO. "Though we are challenged with limited resources, we remain committed to developing and delivering quality money management programs to benefit young people," she added. The award is named in honor of Alphonse Desjardins, the founder of the North American credit union movement, who established the first "caisse populaire," or people's bank, in Quebec in 1900, and helped establish the first American credit union in New Hampshire in 1909. Desjardins was an ardent believer in the value of teaching children to save, and he promoted the idea of in-school savings programs, or "caisses scolaires."