Joann Bisson, president and CEO of Oxford Federal Credit Union, accepts the Desjardins Youth Financial Education Award May 19 in Portland from Todd Mason, president of the Maine Credit Union League.

MEXICO — Oxford Federal Credit Union received the Desjardins Youth Financial Education Award at the Maine Credit Union League’s annual convention May 19 in Portland.

It won first place for its asset size category in the state and will be entered in the Credit Union National Association competition later this year.

The award recognizes how credit unions are improving the financial lives of their members and nonmembers through community service and financial literacy efforts. It is named after Alphonse Desjardins to emphasize longtime commitment to youth.

Besides founding the first credit unions in Canada and the U.S., Desjardins pioneered youth savings clubs and in-school “banks,” known as caisses scolaires.