|Pace shared Allegacy's commitment to financial literacy through its Student Run Credit Union program, as well as the Center for Smart Financial Choices. Pace's opening statement is provided in the above video clip.
Cathy Pace, President of the Credit Union Division of Allegacy FCU, testified Wednesday before a US Senate subcommittee about the importance of youth financial education. The hearing, entitled "The Economic Importance of Financial Literacy for Students," was held in the Subcommittee on Children and Families. The subcommittee is chaired by Senator Kay Hagan, who has a long track record of working on financial literacy initiatives dating back to her time in the North Carolina Senate.
Pace discussed Allegacy's student run high school branches and the work the credit union is doing through its Center for Smart Financial Choices. She also related in her opening statement that providing financial education was central to the credit union philosophy. "As member-owned financial cooperatives, it is in the interest of credit unions and their memberships to have members that are financially literate," Pace shared. "North Carolina credit unions demonstrate their commitment to financial literacy by providing financial counseling and education to more than 500,000 North Carolinians every year."
"Allegacy is a leader in helping members build financial literacy and her testimony shared some of the great work the credit union is doing," said Dan Schline, NCCUL SVP of Association Services. "We appreciated Cathy attending the hearing and relating some of the great work credit unions are doing in this key area."