PRESS RELEASE -- Ohio Credit Union League to honor six individuals for work in financial education -- May 10, 2004

Contact:
Scott Biggs or Sue Helmreich
Ohio Credit Union League
800-486-2917 or 614-336-2894

Ohio Credit Union League honors six individuals for work in financial education

Winners of the Ohio Credit Union League's Ohio Educator Awards include Cindy Roback of Fiberglas Federal Credit Union; Robert Gale, of Ohio Education Credit Union; and Tricia Hale of Ohio University Credit Union.

DUBLIN, OHIO (May 13, 2004) – The Ohio Credit Union League on May 13 presented Ohio Educator Awards to six individuals who have worked over the past year to teach children the critical life skills of personal finance. The Ohio Credit Union League presented the awards at its Fifth Annual Financial Education Summit, May 13, in Dublin, Ohio. Each honoree has shown outstanding service to the financial education of Ohio’s youth.

The League honored the four members of the Education Committee of the Cleveland Chapter of the Ohio Credit Union League for their grassroots efforts to educate local high school students. The committee provided free financial education materials from the National Endowment for Financial Education (NEFE) to 17 Cleveland-area schools and assisted nine of those schools in incorporating the materials into their classrooms. The committee is now working with St. Martin de Porres High School in Cleveland to develop Spanish-language financial education materials. The four person committee includes:

Robert Gale, Treasurer of Ohio Education Credit Union in Strongsville and president of the Cleveland Chapter; Kathy Klimko, Manager/Treasurer of NoteWorthy Federal Credit Union in Cleveland; John R. Martin, Manager of Garfield Community Credit Union in Garfield Heights; Carole Orosz, Loan Officer at American Greetings Federal Credit Union in Brooklyn, Ohio.

Cindy Roback, Vice President of Fiberglas Federal Credit Union in Newark, was recognized for her successful efforts in teaching youth the value of savings. Roback developed a savings incentive program through the credit union’s Moola Moola Kids’ Club that involves 1,300 credit union members under the age of 13. For every 25 cents that club members deposit in a savings account, the credit union rewards them with a stamp. The children can redeem the stamps for gifts, pizza coupons or movie tickets. Fiberglas Federal Credit Union also provides a 14/18 Club for its teen members, and educates over 500 teens through that club. Roback has also started a new community financial education program through the Newark City Schools’ Board of Education.

Tricia Hale, Member Development Specialist at Ohio University Credit Union in Athens, was recognized for her contributions to members and non-members in Southeastern Ohio. The Ohio University Credit Union already won first place the Ohio Credit Union League’s 2004 Desjardins Youth Financial Education Award for

Hale’s financial education presentations to nearly 300 children and teens. She also informed educators, consumers and elected officials about youth financial education issues. She has spoken to civic groups and the news media about the importance of financial education and has written testimony supporting the need for financial education requirements in schools.

During the Ohio Credit Union League’s Fifth Annual Financial Education Summit, speakers from credit unions and government agencies led sessions on financial education topics. Speakers included:

Amy Carles, of Ohio Attorney General Jim Petro’s Consumer Protection Section, discussed “Using Money Wisely and Avoiding the Myths.”

Ray Forgue, PhD., discussed “How to Care for your Parents’ Money while Caring for your Parents.” Forgue co-authored a book of the same name.

Judy Carr, Assistant Vice President for Youth Development at CINCO Family Financial Center Credit Union in Cincinnati, taught a session on “Reaching Out to Local School Programs.”

Tod Lackey, Marketing Manager of Stark Federal Credit Union in Canton; Tricia Hale, Member Development Specialist at Ohio University Credit Union in Athens; Kitty Dilley, Marketing Director at Medina County Federal Credit Union in Wadsworth; and Paula Saunders, the Vice President of Marketing at Sun Federal Credit Union in Maumee, Ohio, and the President of The Northwest Ohio Chapter of the Ohio Credit Union League, based in the Toledo area.

“Only one in ten high school seniors knows the basics of personal finances, and studies show that this is a problem across every family income level,” said Sue Helmreich, the Ohio Credit Union League’s Manager of Outreach Programs. “Children and teens simply are not receiving basic information about the importance of savings, how to use credit, how to balance a checkbook, and how to get the best deals on financial services. These individuals that we are honoring have shown exceptional dedication to financial education, and have invested many hours of their own time volunteering to help Ohio’s children and teens survive and prosper in the real world.”

Education in basic financial concepts is critical to young people and also important to the future of the U.S. economy. Consider these statistics:

            • The personal savings rate in the United States is -0.2 percent
            • Thirty-five percent of American families live paycheck to paycheck
            • At least 44 million Americans have no health insurance, and are unable to pay for medical emergencies
            • Teens in the United States spent over $172 billion in 2003
            • College students graduate with an average credit card balance of $7,000

Educators or community groups that want to incorporate financial education into their curricula or programs can contact the Ohio Credit Union League for more information.

The Ohio Credit Union League, with offices in Dublin, is a state trade association representing more than 500 credit unions. Credit unions are not-for-profit financial institutions owned and democratically controlled by their members. Ohio credit unions provide savings, loans, and other consumer financial services to their nearly 3 million members. To learn more, visit www.OhioCreditUnions.org.