STAR Credit Union, located at the Boys & Girls Club of Dane County, 2001 Taft Street, has received a $15,000 grant from the National Credit Union Foundation. The grant will be used to increase the STAR Credit Union members by an additional 40 at-risk children. Grant money will also be used to recruit 15 STAR Credit Union members to learn how to run a business. The innovative STAR Credit Union is the only youth- charted credit union in the nation.
The one year-old STAR (Saving to Achieve Results) Credit Union is a joint volunteer effort of Great Wisconsin Credit Union and Summit Credit Union to teach children at the Boys & Girls Clubs how to save money. To date, 128 Boys & Girls Club members have joined, with an average savings of $9.59.
Kim Sponem, CEO and president of Great Wisconsin Credit Union and a board member of the Boys & Girls Club of Dane County, said the grant money will also be used to prepare a report on the success of STAR Credit Union so interested credit unions around the country have information on how to start and maintain a similar credit union for children as a volunteer and ongoing project.