Royal Credit Union Program Receives Two Desjardins Adult Financial Education Awards

Royal Credit Union’s (Royal’s) Correctional Facility Financial Education (CFFE) program received a first place 2023 Desjardins Adult Financial Education Award (DAFEA) from the Wisconsin Credit Union League and third place DAFEA at the national level from Credit Union National Association (CUNA). The DAFEA recognizes credit union leadership of financial literacy for members and nonmembers of all ages. The awards will be presented at a virtual reception hosted by CUNA on January 23, 2024.

The award-winning CFFE program started in 2015 and teaches responsible spending, building a budget, managing a checking account, borrowing money, and setting financial goals. This information can be utilized to help the correctional facility population prepare to reenter their community and make well-informed decisions on a daily basis. Since the start of the program, Royal has provided financial education to more than 2,900 incarcerated individuals. Royal is now educating an average of 275 students in Minnesota and Wisconsin correctional facilities each year.

"The financial education program for correctional facilities was created because every individual should have access to the knowledge and information they need to succeed” says Cooper Larson, Community Financial Education Coordinator at Royal. “The program is a perfect example of the credit union philosophy of people helping people and Royal’s core purpose of creating a positive impact in the lives we touch."

Justice-involved individuals are an underserved population that often struggle to receive access to legitimate financial services and educational support, Royal’s CFFE program has proven to be a catalyst for change and a beacon in the credit union movement’s commitment to financial well-being for all.