The Michigan Credit Union League (MCUL) Financial Education Council (FEC) announces the
winners of the 2008 Michigan Credit Union Financial Education Awards.
The awards are the “Credit Union Youth Advocate of the Year” and the “Award for Excellence in
Consumer Education”.

Credit Union Youth Advocate of the Year—Recognizes an active credit union person
for outstanding individual achievement in contributions to the credit union youth
movement. This individual is a leader in peer education, legislative efforts, cooperative
resources and community outreach to further develop credit union efforts to serve youth.
The winner of this award is Kaye Chervenak of Michigan Catholic Credit Union. A second place
recognition is awarded to Kathy Spahr of EECU, A community Credit Union.
Kaye Chervenak is the Business Development Specialist for Michigan Catholic Credit Union.
Kaye’s involvement with youth education, school partnerships and community outreach shows
great leadership and initiative in financial education. Kaye’s focus on improving teen and young
adult programs has resulted in innovative ways to involve teens in financial education including
a High School “Financial Professionals” club and high school student “Teen Cent” writers who
contribute to the credit union’s newsletter. A co-worker says of Kaye “I am always amazed at
how she so easily channels her passion for credit unions and youth financial education into
interactive and entertaining lessons for teens” and Dave Lawrence, a teacher at Fr. Gabriel
Richard High School says that “Kaye has demonstrated outstanding knowledge and teaching
skills in the area of personal financial management and has a wonderful ability to connect with
young people”.
Kaye also seeks to share and learn best practices from other credit union financial educators
and coordinated and facilitated a very productive session focused on successful High School
student credit unions in June of 2008 attended by 16 credit union staff from ten Michigan credit
unions.
Second place in the “Youth Advocate of the Year” award went to Kathy Spahr, HR, Training
and Development Director at EECU, A Community Credit Union. Kathy connects with youth as
she directs the financial education program for EECU’s in-school credit union and financial
education programs at school districts in Jackson and Hillsdale counties. Kathy put together a
youth advisory board consisting of young staff and community members to try to learn more
about what products and services youth are interested in. Kathy reached out to local homeschooled teens to present financial education workshops for them featuring the NEFE High
School Financial Planning Program.

Award for Excellence in Consumer Education—Recognizes an active credit union or
individual person for outstanding contributions and innovation in consumer financial
education for members and within the community.
Michigan credit unions are not just leaders in Youth financial education. This was a new award
this year, developed to help recognize and highlight the substantial financial education activities
for adults and community members of all ages being conducted by Michigan credit unions.
The winner of this new award was Michigan First Credit Union. Michigan First participates in
many varied forms of financial education for its members of all ages and for the residents of the
44 communities they serve. Consumer financial education at Michigan First includes free
educational seminars on eleven topics including credit, budgeting, tax planning and college
funding. A unique partnership with Wayne State University during Money Smart Week has
credit union staff presenting pertinent financial education topics to college students. Michigan
First@School Program has 13 student branches in elementary, middle and high schools which
teach the value of saving and money management. Their “Money SSP” savings account was
developed specifically for members of their three high school credit unions and offers a special
interest rate to encourage saving for their senior year expenses.
Second place for the Excellence in Consumer Financial Education award went to Education
Plus Credit Union for their many programs that involve youth financial education and
community outreach. Education Plus has had a very positive impact on youth by conducting
financial education sessions at local schools, and by operating two in school credit unions.
They have developed a student advisory board for each of their school credit unions which
provide financial education and garners innovative ideas from the students. Education Plus
partnered with local lawmaker Senator Randy Richardville to deliver financial education to youth
during the MCUL’s 2008 Financial Literacy Legislative Challenge. Community outreach efforts
by Education Plus include raising funds for the Monroe County Relay for Life and donating
property and helping build a Habitat for Humanity home in their community.
An honorable mention for the Award for Excellence in Consumer Education goes to Michigan
State University Federal Credit Union who has provided over 45 free educational seminars
for adults in the past year and participates in extensive youth and young adult financial
education programs.
A final honorable mention for this award goes to Susan Young, from CP Federal Credit Union.
Susan is a passionate financial educator who was recognized for the highest number of
classroom presentations in the nation by the National Youth Involvement Board and has
reached out to the community with financial education for teen parents and soon to be released
prison inmates.