AUBURN HILLS, Mich.—Genisys Credit Union has received the Community Enrichment Award from the Michigan Credit Union Foundation for its “A Path Forward” program, a financial literacy initiative designed to help youth at Oakland County Children's Village prepare for independent financial lives after leaving the juvenile justice system.
The program combines classroom instruction with hands-on financial education, challenging participants to manage a monthly budget covering expenses such as housing, transportation and groceries while working within assigned credit scores and debt scenarios. The goal is to provide real-world experience in making financial decisions before participants re-enter their communities.
Youth who complete the program receive a high-yield savings account paying 5.12% APY, funded with a $100 opening deposit jointly provided by Genisys and Oakland County Children's Village. Participants also complete a three-week course covering budgeting, credit scores, fraud prevention and other personal finance fundamentals.
Genisys said nearly 60 youth have participated in the program to date. The credit union noted the initiative is intended to address financial knowledge gaps that can hinder long-term success and create barriers as young people transition into adulthood.
“We're not just focusing on programming while youth are at Oakland County Children's Village; we are actively working to equip them with the tools and skills necessary for success in the future,” said Genisys President and CEO Jackie Buchanan. “Our goal is to offer a financial space where we are encouraging youth to see the positive aspects of having knowledge and control over their financial lives.”