Financial literacy is our
Since our founding in 1951, Travis Credit Union has been dedicated to helping our members and their families understand their financial options. Over the past decade, we have expanded our focus on financial education to the communities we serve as a key part of our outreach efforts. This commitment to financial literacy can be seen in our partnerships with local educational, charitable and government agencies, in the many financial education workshops we offer each year and in the excited, young faces of our college-bound members.
In this issue of Smart Money Matters, we're pleased to announce this year's recipients of our Mary Keith Duff Memorial Scholarship. These $1,000 scholarships are awarded to selected TCU members who graduated from high school this summer and are headed off to college this fall. Board Chair Pat Moreno and I congratulate the 2012 scholarships recipients. We wish them and every other young member attending college this fall a very productive freshman year.
Parents of college-bound students are keenly aware that in many instances scholarships, grants and other public financial aid won't cover the total cost of a college education. Often, families must also contribute based on their income. If you're seeking private funding for college, we're proud to announce the cuScholar Private Student Loan Program. This program allows TCU members to borrow from $2,000 up to $120,000 in total undergraduate loans for college expenses.
This program was started by a coalition of credit unions for credit union members who are struggling to address the rising cost of a college education. To read more about this program, click here.
Financial literacy programs
For students in high school, our annual teen financial boot camp program helps them understand the real world responsibilities that come with managing personal finances. Participants are given a mock identity complete with income and debt, and they must make financial decisions regarding housing, transportation, food and other needs or wants. These "Mad City Money" workshops are so popular that we've added additional classes this month and next. Click here for registration and other details.
Patsy Van Ouwerkerk,
President and CEO
Even our youngest members are involved in learning about money. Be sure to check out the winners of our "Be a Credit Union Super Saver" drawing contest that was held in April. These talented, young contestants showed us what they're saving for in very colorful and creative ways.
Another way we promote financial education is through the use of our social media and other online tools to reach our membership. Our Facebook and Twitter pages regularly post information about upcoming seminars, events or financial information that may be useful to credit union followers–both young and old. Social media is also a great avenue for us to interact with our younger members, who rely more on mobile and online applications to do their banking with us.
Online banking is also becoming increasingly important for members who receive federal checks through the mail. Starting in March 2013, all federal benefits such as Social Security checks will be paid electronically. If you haven't yet signed up for our Direct Deposit, we encourage you to enroll soon so that your federal payments aren't disrupted and go straight into your checking account. Read more about this change in this newsletter.
New board leadership
As you may have noticed earlier in this column, Pat Moreno has replaced Curt Newland as chair of our Board of Directors, following our annual membership meeting in April. We would like to thank Curt for his many years of dedicated work as board chair, and I look forward to working with Pat on ensuring your credit union remains financially strong and
a good steward of your money.
Have a great summer!