1st Bergen Federal Credit Union takes First Place in
Financial Literacy Challenge

1st Bergen FCU has been named the 1st place winner of the New Jersey Credit Union League’s Financial Literacy Challenge. The League, which is the association for credit unions in New Jersey, challenged credit unions in the state to offer as much financial literacy education as possible for one year starting in April 2010.  Sixteen credit unions signed up for the contest.

As the first place winner of the Challenge in the under $10 million category (small credit unions), having served over 500 people through its financial literacy efforts throughout the year, 1st Bergen FCU will receive two scholarships ($1,000 each) to award to members who are furthering their education.

Two members of 1st Bergen FCU have been selected based on their dedication to the financial literacy classes and their academic and career goals. Allan DeGiulio, Chairman of the Board of Directors of 1st Bergen says, “The awardees for these scholarships are not graduating seniors.  They are women who have been in the workforce and are forging new pathways to move ahead in their careers. The scholarships to local colleges will make a significant difference in their lives.”  

The credit union’s curriculum is geared to helping the unbanked and underbanked become savvy, responsible consumers, able to comfortably navigate through the programs and services of financial institutions. The classes highlight the “how-tos” of deposit and credit services, maintaining checking accounts, developing spending plans, understanding the importance of saving, knowing how to obtain credit effectively and the basics of building and/or repairing credit.

In addition to financial education and help with credit issues, 1st Bergen’s services include savings, loans, checking, and more. Watch for information about ATM-Debit card services—coming soon.

1st Bergen FCU is chartered, regulated and insured by the National Credit Union Administration and is sponsored by the Bergen County Community Action Partnership, Inc. Membership in the credit union is open to people who live, work, worship, attend school, or volunteer in Bergen County. For additional information about 1st Bergen FCU, call 201-968-0202 or visit www.1stbergen.com.