GADSDEN, Ala. — Family Savings Credit Union has committed $200,000 over 10 years to a financial literacy initiative at Gadsden State Community College aimed at helping students improve their budgeting, credit management and long-term financial planning skills, according to the college.
Under the partnership with Gadsden State and the Gadsden State Cardinal Foundation, the $1.17-billion Family Savings will invest $20,000 annually for 10 years and serve as the college’s primary financial literacy partner, according to the organizations.
The funding will support financial literacy workshops, one-on-one financial counseling, digital learning resources, campuswide awareness campaigns and programs focused on students’ financial success after college, Gadsden State said.
Topics will include budgeting, borrowing, loan repayment, credit management and long-term financial planning.
The ‘Goal’
“Our goal is to ensure students graduate not only career-ready but financially prepared,” Gadsden State President Alan Smith said in a statement. “Family Savings Credit Union shares our vision of empowering students through education, and we are grateful for their commitment to helping our students develop the confidence and knowledge necessary to achieve lifelong financial success.”
The initiative also will support Gadsden State’s efforts to comply with Southern Association of Colleges and Schools Commission on Colleges standards related to student debt education and financial literacy.
The college said it will continue monitoring financial wellness measures that include student borrowing trends, loan repayment progress and post-graduation financial outcomes.
Numerous Fin Ed Programs
Family Savings will have a presence in financial education programs across Gadsden State’s campuses, including workshops, seminars, educational resources and student engagement events.
“Financial literacy is one of the greatest gifts we can provide because it creates opportunities that last a lifetime,” Family Savings President and CEO Danny Varnon said in a statement.
Varnon said the partnership represents an investment in the financial knowledge and well-being of students, faculty and the broader community.
