HCPFCU Receives Award For Teen Program

We are proud to share that our Teen Account Program was recognized with a state-level award for bringing financial literacy to our members! HCPFCU was awarded the 2020 Alphonse Desjardins Award for our Teen Program from the Indiana Credit Union League and CUNA (Credit Union National Association).

The Alphonse Desjardins Financial Education Award was created to recognize outstanding financial education involvement. Alphonse Desjardins was a credit union pioneer who was instrumental in forming the credit union movement. Besides helping to found the first credit unions in Canada and the U.S., Desjardins pioneered youth financial literacy.

Why Did We Create A Teen/Youth Program?

We saw a need to create special financial support for teens and young adults, particularly to help them build credit and provide access to sound financial education so they don’t fall prey to predatory lending practices. Utilizing a grant awarded from the NCUA (National Credit Union Administration), we offer online money lessons and specialized teen financial education.

The program also expands on our previous offering of kid's savings accounts. Members ages 13-17 and students age 18-23 (who are dependents and enrolled in college or continuing education) now have access to checking accounts, debit cards, credit cards, and the potential to graduate from school with excellent credit. This program gives young members real-life experience depositing, spending, and managing their accounts. Our goal is that teen members will have the education and skills to start on a solid financial path. Teen accounts require a parent or guardian as a joint owner, and parent-facing materials are provided to encourage family conversations about money.