GADSDEN– Family Savings Credit Union will invest $200,000 in a new Gadsden State financial literacy partnership over the next decade.

The credit union is working with Gadsden State Community College and the Gadsden State Cardinal Foundation. Together, the organizations plan to expand financial education across the college’s campuses.

Under the agreement, Family Savings will contribute $20,000 each year for 10 years. As a result, students will gain more access to workshops, one-on-one counseling, and digital resources.

The programs will cover budgeting, credit, borrowing, loan repayment, debt management, and long-term financial planning.

“Student success extends well beyond the classroom,” Cardinal Foundation President Tony Smith said. In addition, he said the program should help students make wise choices and reduce financial stress.

Financial Education Across Gadsden State Campuses

The effort also supports a standard from the Southern Association of Colleges and Schools Commission on Colleges. SACSCOC Standard 12.6 focuses on student debt education and financial literacy.

For example, students will learn how borrowing can affect their finances after college. They can also receive help with budgets, credit, debt, and loan repayment.

The college said better financial skills may reduce barriers that keep students from finishing school.

“Our goal is to ensure students graduate not only career-ready but financially prepared,” Gadsden State President Alan Smith said.

Moreover, Smith said the partnership will give students knowledge they can use throughout their lives.

Measuring the Program’s Results

Gadsden State plans to track student borrowing, loan repayment, and financial results after graduation. Therefore, college leaders can measure the program’s effect on student success.

Meanwhile, Family Savings will take part in workshops, seminars, and student events. The credit union will also provide educational resources throughout the program.

Danny Varnon, president and CEO of Family Savings, said the partnership continues the credit union’s focus on education.

“Financial literacy is one of the greatest gifts we can provide,” Varnon said. He said it can create opportunities that last a lifetime.

Family Savings is a not-for-profit financial cooperative with more than 79,000 members. It serves communities across North Alabama and Northwest Georgia.

In addition, the credit union is celebrating its 75th year of operation.

Finally, the Cardinal Foundation raises and manages private support for Gadsden State students and programs.