The $404 million Generations Federal Credit Union in San Antonio has partneredwith five local colleges to bring financial education classes totheir campuses.

GFCU has identified a growing need for financial education amongcollege students, citing a 2011 study by Experian that revealed SanAntonio has the highest rate of credit card debt of any city in theU.S. and some of the lowest credit scores. What's more, otherresearch shows 81% of college students have underestimated by alarge margin how long it will take to repay credit cards and otherdebt.

GFCU will teach dozens of financial education classes tohundreds of students at Palo Alto College, San Antonio College, St.Philip's College, Northeast Lakeview College, and Northwest VistaCollege. The classes will include lessons in budgeting, moneymanagement, credit reports and paying back student loans, amongother topics.

In partnership with each college's financial aid office,students will be enrolled for a chance to win a weekly financialaward for attending financial education classes throughout themonth of April, which is National Financial Literacy Month. For example, the Palo Alto College Financial Aid Department isgiving away 80 awards of $250 throughout the month for a total of$20,000.

“Between work, school and family, students lead very busy livesand often times their finances are not a high priority until it'stoo late,” said David Rodriguez, GFCU financial educationadvocate. “By partnering with all the colleges and byoffering an award, it encourages students to attend; and when theydo, we can provide those messages of financial responsibility thatwill help them stay on a strong financial path.”

The credit union has recently received the National DesjardinsYouth Financial Education Award. GFCU's “No Suckers Here”program has been recognized for teaching students the importanceand value of financial literacy in an engaging and entertainingenvironment. The credit union's Student Life Team works withindividual schools and administrators to determine the financialneeds of their student body and then develops a financial educationprogram tailored to those needs.