LOC Federal Credit Union wins second place in National Youth Financial Education Award

All LOC employees participated in a Financial Reality Fair for nearly 500 high school seniors at Howell High School on Oct. 8, 2018. Financial Reality Fairs are a key component of LOC’s youth financial literacy outreach efforts that were included with LOC’s award entry.

LOC Federal Credit Union was recently named the second-place winner of the National Desjardins Youth Award by the Credit Union National Association (CUNA) for its asset category.

This award honors leadership within the credit union movement on behalf of youth and adult financial literacy and is named after Alphonse Desjardins, a credit union pioneer known for introducing youth savings clubs and in-school “banks.”

In order to be considered for the national award, LOC first won at the state level in its asset category.

This was the second consecutive year LOC received a first-place state award. LOC’s award entry this year highlighted:

• Financial education initiatives that impacted nearly 3,000 youth

• Growth in its 21-branch student-run credit union program that saw a 36 percent increase in dollars saved, 22 percent increase in transaction numbers and 44 percent increase in new accounts compared to the previous year

• Eight financial reality fairs over four school districts impacting 1,400 students

• Partnerships with local libraries for financial education programming during summer recess

“At a time when financial products have become a commodity, institutions are trying to effectively communicate what makes them different,” said Jim Dickinson, president and CEO of LOC, in receiving the award. “For LOC, it’s the commitment we make to the long-term financial well-being of our members beginning at the very earliest stages of the lives.”

LOC will be formally recognized at the CUNA Government Affairs Conference in March 2019.

LOC Federal Credit Union was founded in 1950 and serves anyone who works, worships, lives, or attends school in Southwestern Oakland and Livingston counties and their immediate family members. With locations in Hartland, Howell and Farmington, LOC Federal serves approximately 25,000 members and has approximately $21.5 million in assets.

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