BayPort Credit Union Wins First in Financial Education, Community Outreach

NEWPORT NEWS, Va., Sept. 29, 2020 /PRNewswire/ — BayPort Credit Union has won in all four award categories in the 2020 Social Responsibility Awards sponsored by the Virginia Credit Union League (VACUL) and the Credit Union National Association (CUNA). BayPort is recognized for making youth and adult financial education accessible and engaging, excellence in member service, and sustained community giving.

In the Desjardins Youth Financial Education Award category, BayPort won first place for reaching more than 10,000 students with lessons on personal finance basics, credit, budgeting, and identity theft. BayPort was also recognized for its innovative partnership with the Boys & Girls Clubs of The Virginia Peninsula in which the credit union awarded one local club a full makeover and a financial education center.

In the Desjardins Adult Financial Education Award category, BayPort won second place for its digital outreach efforts to members and the community through the launch

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BayPort Credit Union Wins First in Financial Education, Community Outreach | News

NEWPORT NEWS, Va., Sept. 29, 2020 /PRNewswire/ — BayPort Credit Union has won in all four award categories in the 2020 Social Responsibility Awards sponsored by the Virginia Credit Union League (VACUL) and the Credit Union National Association (CUNA). BayPort is recognized for making youth and adult financial education accessible and engaging, excellence in member service, and sustained community giving.

In the Desjardins Youth Financial Education Award category, BayPort won first place for reaching more than 10,000 students with lessons on personal finance basics, credit, budgeting, and identity theft. BayPort was also recognized for its innovative partnership with the Boys & Girls Clubs of The Virginia Peninsula in which the credit union awarded one local club a full makeover and a financial education center.

In the Desjardins Adult Financial Education Award category, BayPort won second place for its digital outreach efforts to members and the community through the launch

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Hanscom FCU recognized for Member Service, Financial Education, Social Responsibility

Hanscom FCU recognized for Member Service, Financial Education, Social Responsibility

HANSCOM AFB, MA (September 29, 2020) — Hanscom Federal Credit Union has received three awards for its commitment to social responsibility by the Cooperative Credit Union Association (CCUA). The credit union placed state-level first place in the $1 billion-plus asset categories for the Louise Herring Philosophy-in-Action Member Service Award and the Desjardins Adult Financial Education Award, and state-level second place in the same asset category for the Dora Maxwell Social Responsibility Award.

The Louise Herring Award for Philosophy in Action commends credit unions that make exceptional efforts to include credit union philosophy in their daily operations and member service. Hanscom FCU won the award for the creation of its compassionate Family Survivorship Guide, designed to help families settle their loved ones’ accounts with the credit union.

The Alphonse Desjardins Award was created to recognize leadership within the credit union

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African American State & Local Government Employees Have Higher Concerns About Health and Financial Risks of COVID-19

African American State & Local Government Employees Have Higher Concerns About Health and Financial Risks of COVID-19

PR Newswire

WASHINGTON, Sept. 24, 2020

Nearly 40 Percent of African American State & Local Workers Expect to Take on More Debt

WASHINGTON, Sept. 24, 2020 /PRNewswire/ — A national poll of state and local employees finds that  African American workers are more concerned than their colleagues about the potential health and economic impacts of COVID-19. Thirty-nine percent of African American state and local employees are worried about contracting the coronavirus at work as compared to 22 percent of all other survey respondents. Twenty-one percent of African American workers are concerned about a reduction in pay, which is nearly twice the level of other state and local employees (11 percent).

(PRNewsfoto/Center for State and Local Gove)
(PRNewsfoto/Center for State and Local Gove)

As the pandemic lingers, 39 percent of African American state and local employees expect to take

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COVID-19 Exposes The Critical Need For Financial Education

COVID-19 began in February 2020 as a health crisis, but as time goes on and more Americans lose their income, savings and businesses, it has extended beyond just health into an economic crisis as well. Similar to other catastrophes, such as Katrina and 9/11, when America faces a crisis our financial vulnerabilities are exposed and the need for financial education is obvious. According to a new Charles Schwab Financial Literacy Survey, half of all Americans (50%) would experience financial hardship if they

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Naga Appoints World-Renowned Financial Markets Lecturer Andreas Thalassinos as Director of Education

His deep passion for trading and technical analysis led him to study the financial markets from a mathematical and mechanical perspective. Gathering incredible insights into the technical aspect of trading over the years, Mr. Thalassinos became an active advocate of algorithmic trading, adding the development of hundreds of automated systems, technical indicators, and trading tools. His trading products are used today by forex brokers, investment firms, traders and investors worldwide. 

His latest research paper, titled “Anatomy of a living trend: Swing charts, High Points and Low Points, Peaks and Troughs and how their underlying structure may define their forecasting strength” clearly explains the technical aspects of trading, delving deeper into trend identification, chart patterns and how to identify them with precision, serving as a useful resource for traders and investors, regardless of where they are on their trading journey. 

Joining NAGA, the Hamburg-based fintech accelerator and social trading platform, Mr.

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How to keep financial education thriving in a virtual world

As credit union professionals, financial education and wellness is baked into our philosophy. For many of us, that’s included in-person learning, including fairs and classroom visits. But with traditional forms of learning and member engagement turned upside down in the past few months, how do credit unions adjust their plans?

Is there an app for that?

For many years now, our credit union has held annual “CU 4 Reality” learning fairs to teach middle and high school students about real world budgeting. However, when local schools switched to virtual education in March 2020, we had to quickly come up with a way to provide this knowledge in an interactive yet virtual way. We discovered an opportunity to purchase an app that we used to create a hands-on money management simulation, in which students are tasked to make various financial decisions, such as selecting a mode of transportation, home and food

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