The Madison, Wis.-based credit union’s financial seminars and the Investor Education in Your Workplace program, developed by the WCUL, helped garner both a 2011 Wisconsin Financial Literacy Award. Winners are recognized for their work to advance the cause of personal financial knowledge among Wisconsin citizens.
“The recipients of the Wisconsin Financial Literacy Award are helping Wisconsinites of all ages improve their personal finance skills in our schools, in the workplace and in communities across the state,” Governor Scott Walker said. “These citizen leaders equip students, parents, peers and consumers with the necessary tools to make informed decisions about their own money, which improves individual quality of life, as well as the Wisconsin economy.”
In 2010, UW Credit Union provided 295 financial literacy seminars, reaching more than 8,000 people, of which, more than 90% were underserved individuals and college students. Through October of 2011, another 6,000 people had been served by UW Credit Union’s financial education program.
The Investor Education in Your Workplace program, essentially encourages credit unions, and local employers to offer voluntary, online investment education to employees. It has proven that just 10 hours of self-paced study of basic investment concepts can produce positive, measurable changes in investment knowledge, attitudes and behavior. The program quickly grew from its pilot phase at Wisconsin credit unions to a proven and replicable program that’s been implemented in Pennsylvania, North Carolina and at more than 20 Wisconsin businesses, organizations and schools.