Bay Federal Credit Union’s Financial Education Program reaches major milestones
More than 20,000 individuals served and 1,000 workshops and classes provided since 2005
CAPITOLA, CA (November 20, 2017) — Bay Federal Credit Union’s Financial Education Program has achieved two major milestones, reaching 20,717 people through 1,031 workshops and classes.
Bay Federal’s rich educational history stretches back to its beginning as a teachers’ credit union in 1957. Over the years, the not-for-profit financial institution has provided fundamental budgeting and financing resources to those in the community, establishing a formal program to reach underserved groups in Pajaro Valley in 2005. When the recession hit and need for financial education rose, the program was expanded to serve all communities in Santa Cruz County.
“The success of our program can be attributed to the dedication of our certified educator in personal finance, Tiffany Zachmeier, who has worked tirelessly to expand this program in recent years,” said Carrie Birkhofer, President and CEO of Bay Federal. “She has continued to build amazing relationships with local schools, employers, and nonprofits. Tiffany has truly helped make a real difference in the financial lives of those in our community.”
Many of the workshops and classes Zachmeier presents are arranged in partnership with educational institutions and nonprofits, including University of California Santa Cruz, Cabrillo College, and Habitat for Humanity, to educate those they serve. Of the total people reached, 17,470 were youths.
In addition, Bay Federal provides free financial education materials to elementary and middle school teachers through a program called Banzai, and it offers free counseling to members through its financial fitness partner, BALANCE. Bay Federal also helps support the financial health of the community by working with local businesses to educate their employees and non-profits, such as Habitat for Humanity, to educate those they serve.
Bay Federal Credit Union’s Tiffany Zachmeier, second from left, hosts a Bite of Reality fair at Cabrillo College in October 2017. Bite of Reality is a hands-on personal finance simulation available through the Richard Myles Johnson Foundation, which provides financial education resources to credit unions in California and Nevada.
About Bay Federal Credit Union
Bay Federal is a full-service, not-for-profit, community development financial institution that serves over 80,000 members and 2,400 local businesses throughout Santa Cruz, San Benito, and Monterey counties. With more than $1.5 billion in assets, Bay Federal Credit Union is the largest member-owned financial institution in Santa Cruz County, serving its members and the community since 1957. Bay Federal Credit Union has an award-winning employee volunteer program in which employees have given their own money and volunteer for numerous local schools, nonprofit organizations, and community events each year.