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HEWFCU Offers Teens a Dose of Financial Reality as Part of Financial Literacy Month

2013-05-15T05:00:00Z

Students at H.D. Woodson High School recently experienced the realities of financial independence at a “Financial Reality Fair” hosted at the school by HEW Federal Credit Union (HEWFCU) to recognize National Financial Literacy Month. Students were randomly assigned careers complete with net and gross monthly income, a credit score, and a checking account with $1,500. They shopped for apartments, electronics, cars and more at various tables where they chose whether to pay cash; use a credit card; or get a loan for major purchases such as cars and furniture.

Students tracked their income and spending on a budget worksheet to easily determine how much money, if any, they had left at the end of the month for savings and emergency expenses. Each student reviewed the results with a Financial Counselor. The Financial Counselors helped students identify budget red flags such as apartment rents and car payments that were too high for their income level.

The Financial Reality Fair concept was created within the credit union industry in response to the growing emphasis on financial literacy education in public schools. At a recent Financial Reality Fair in Washington, D.C. sponsored by the National Credit Union Foundation a Math teacher from Capital City Public Charter School reported, “It feels like the students learn a semester’s worth of meaningful material in just two hours.”

HEW Federal Credit Union is taking the ’’Financial Reality Fair concept to the District of Columbia’s Department of Housing and Community Development’s 5th Annual D.C. Housing Expo at the Walter E. Washington Convention Center on June 1. Seventy-five students will experience the excitement and challenges of financial independence at the event.

HEWFCU CEO Kathy Geary stresses the credit union’s commitment to taking financial literacy education into the community. “As a credit union we work with members every day who are in financial crisis. We believe we can help our next generations avoid many common financial pitfalls by giving them a dose of reality. The decisions young adults make at the beginning of their financial independence affect their lives forever. We want to help them succeed financially.”

Michigan's 2013 CU Community Reinvestment Report

2013-04-19T05:00:00Z

The Community Reinvestment Initiative supports the Michigan Credit Union League’s advocacy efforts through the CRI Report. The report is compiled each year using data from the CRI Survey and outside sources. Distributed to lawmakers during the CUNA GAC and throughout the year, the CRI Report contains information that demonstrates the good work credit unions do in their communities and further promotes the credit union tax exemption.

The Community Reinvestment Initiative is a call to action for Michigan’s credit unions. CRI challenges credit unions to elevate their social mission and community involvement to a strategic level, to make community involvement standard operating procedure.

This involves two parts: CRI assists credit unions in implementing programs and products to assist members; and CRI gathers and reports data on credit union community involvement through the CRI Survey and the CRI Aggregate Report.

The CRI Survey data is used to create the CRI Aggregate Report, an advocacy piece given to lawmakers in Washington, DC and Michigan. Such a strategy communicates clearly a credit union’s commitment to their neighborhoods and communities, builds consumer awareness and community good will, and finally, helps protect the credit union tax exemption.

Key data found in the 2013 Community Reinvestment Report to advocate on behalf of Michigan credit unions:

Financial Benefits – $212 million – The estimated financial benefits enjoyed by Michigan credit union members in the form of lower fees and better rates.
Credit Union Community Outreach – $10.6 million – Total donated to 238 charities by Michigan credit unions in 2012.
Invest In America – $638 million – The total member savings through discounts since the program began in 2008.
Youth Financial Education – 46,976 – The number of K-12 students that were educated by Michigan credit unions during the 2011 – 2012 school year.

> Click Here for the Report

New York's 2012 MORE Report, Survey Findings Now Available

2013-04-17T10:00:00Z

The Credit Union Association of New York’s 2012 MORE Report is now available online and in print, providing credit unions with a powerful tool for advocating and building awareness.

The report highlights New York credit unions’ efforts in seven key categories: adult financial education; community investment and outreach; customized products and services; financial counseling; immigrant outreach; Volunteer Income Tax Assistance (VITA); and youth financial education.

More than 1,500 examples are included in the report, along with findings from the 2012 MORE survey.

Notable survey findings include:

New York credit unions educated nearly 45,000 consumers through adult financial education sessions.
New York credit unions maintained 275 in-school banking programs and educated more than 35,000 youth through financial education programs.
New York credit union staff were involved with nearly 8,000 charities and community boards and contributed nearly 26,000 volunteer hours to community organizations.
Nearly 75 percent of New York credit unions partnered with other organizations throughout the year, and 80 percent sponsored community events.
Nearly 80 percent of New York credit unions offered customized products for youth in 2012.
New York credit unions contributed more than 3,000 staff and volunteer hours to VITA programs, and more than 5,600 New York consumers benefitted from credit unions’ VITA programs.

“The MORE Report is always an exciting reminder of just how much credit unions impact their communities,” said Association President/CEO William J. Mellin. “It brings real people and causes into the limelight, and it allows us to prove the credit union difference to lawmakers, the media and the public. On behalf of the Association, I want to thank the 100+ credit unions that contributed to this year’s report.”

To learn more or submit information for the 2013 MORE Report, visit the Association website here.

22 Schools Attend Financial Reality Fair in Connecticut

2013-04-03T10:00:00Z

More than 550 students from 22 high schools throughout Connecticut spent Tuesday morning, March 26th, learning the challenge of living within their budget at Central Connecticut State University in New Britain. Students chose their career in advance of the Fair, researching the starting salary and how much additional school is required to start in their choice. Teachers forwarded that information prior to the Fair so each student received a personalized budget worksheet based on their individual goals.

“Personalizing the budget worksheets is a key factor in this exercise, creating more buy in from the students up front because they can envision themselves in the position,” said Barbara Bass, Credit Union League of CT. “They are interested in participating when they see the connection to their own future.”

Twenty-five Connecticut credit unions volunteered at the Fair Tuesday morning, along with more than 15 local businesses, showing their support for improving the financial skills of Connecticut high school students.

Students are forced to make choices on how they spend their money. One of the first booths they hit when they walk in the door is EZ Loans, a booth added to represent high-cost credit. A student from Cromwell H.S. said, “Those guys over there [EZ Loans] told me they were helping me, but I had to get a part-time job just to pay the money back! I was doing okay until I talked to them.” Another student was overheard telling her roommate, “Don’t talk to them, they will cost you too much money!”

A popular addition among the teachers attending the Fair was the police officer who went through the crowds of students giving tickets for speeding and/or texting while driving – an unexpected expense, but common among teenage drivers. “We love the police officer,” said a teacher from Berlin H.S. “I hope he tickets my students!” The student response was not quite so positive: “Did you get a ticket? I got one for texting…unbelievable!”

Perhaps the best summary of the impact this experience had on some students was overheard in this conversation: “How are you doing?” “I can’t afford anything. I had to give back my goldfish!” “Yeah, this is harder than I expected.”

Perhaps the best summary of the impact this experience had on some students was overheard in this conversation: “How are you doing?” “I can’t afford anything. I had to give back my goldfish!” “Yeah, this is harder than I expected.”

Biz Kid$ Piggy Hunt Teaches Financial Literacy

2013-03-21T10:00:00Z

From CUNA News Now – Biz Kid$, a financial literacy initiative that teaches kids about money and business, is now part of a treasure hunt for financial literacy. The Biz Kid$ Piggy Hunt is a collaboration of Biz Kid$ and Horizon CU of Spokane, Wash.

Josh Allison, relationship development manager at Horizon CU, created the treasure hunt to connect with local schools to spread the message of financial literacy as a way to engage children.

Every week clues are left for students to find a hidden piggy bank. The clues lead to teachers, who have Biz Kid$’ financial literacy worksheets and assignments for students to complete. When students complete the assignments, they receive the next clue, and continue hunting.

Students are given special piggy hunt passports to track their progress through Biz Kid$ clips and corresponding worksheets. The first student to make it through the worksheets and find the hidden piggy bank is awarded a cash prize from the student’s credit union.

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Deadline Approaching for New NCUF Biz Kid$ Financial Ed Grants

2013-03-14T05:00:00Z

Credit union organizations have until the end of the month to apply for new Biz Kid$ Financial Education Grants from the National Credit Union Foundation (NCUF).

“The Biz Kid$ program and companion curriculum is a great vehicle for credit unions to utilize to improve the financial literacy skills of youth in the communities they serve,” said Danielle Brown, Biz Kid$ Program Coordinator for NCUF. “We are looking to fund innovative programs that improve the financial education of youth through the use of the Biz Kid$ program and encourage you to apply."

The application can be found here or by visiting ncuf.coop>Foundation Programs>Biz Kid$>Apply for a Biz Kid$ Financial Education Grant. The deadline to apply is March 31, 2013.

Grants Aligned with Biz Kid$
Biz Kid$ is a financial literacy initiative launched nationally in January 2008 that teaches kids about money and business. The initiative includes an award-winning TV series, free classroom curriculum, outreach activities, and a website (bizkids.com) targeting children 9 – 16 years old. NCUF is responsible for the fundraising and outreach of the program, and a coalition of over 290 credit unions and affiliates from across the country have helped exclusively fund Biz Kid$. The number one goal of the Biz Kid$ financial literacy initiative is to teach kids from upper elementary through high school to understand and incorporate the skills they need to successfully manage their financial lives. The goal of NCUF’s Biz Kid$ Financial Education Grants is to extend the reach of the series beyond broadcast into the community.

What the Grants Fund
Biz Kid$ Financial Education Grants may be used to fund innovative programs that improve the financial education of youth through the use of the Biz Kid$ program. Projects may engage teachers, students, education leaders, local PBS stations, or community stakeholders through events, activities, and/or curriculum distribution. Each project should create innovative and engaging activities incorporating Biz Kid$ materials. The overall grant objective is to engage the credit union movement in using Biz Kid$ and its curriculum to build students financial literacy and economic education skills while increasing awareness and usage of Biz Kid$. Funds may not be used as a cash donation to a third party.

Eligibility Requirements
Eligible applicants include credit unions, CUSOs, state credit union associations, state credit union foundations, and any other organizations owned or controlled by credit unions.

Questions about Biz Kid$ or the grant process can be directed to Danielle Brown at (971) 295-6800 or via email at bizkids@ncuf.coop.

Biz Kid$ – Teaching Kids about Money & Business
Many credit unions leverage Biz Kid$ to teach financial education in schools in their community. In addition to NCUF’s box sets and starter kits, companion materials and other resources for teachers and parents are available at no cost on the Biz Kid$ website, www.bizkids.com. The site also features clips from the series and invites kids to appear on the show.

Biz Kid$ has continually garnered attention in and outside of the credit union industry. In its five seasons, Biz Kid$ has garnered ten Emmy nominations—winning once in 2009—and rang the closing bell ceremonies at both the New York Stock Exchange and the NASDAQ Exchange for the past three years in conjunction with National Financial Literacy Month. Biz Kid$ also recently earned the Parent’s Choice Silver Award. In 2010, it also won the credit union industry’s most prestigious honor, the Herb Wegner Award for Outstanding Program.

For more information about Biz Kid$, click here.

Reality Fair at GAC “Eye-Opening Experience” for Teens

2013-03-06T12:00:00Z

Last week, the National Credit Union Foundation (NCUF) held a Financial Reality Fair in conjunction with the Credit Union National Association (CUNA) Governmental Affairs Conference (GAC) in Washington, DC. A Reality Fair is an interactive financial literacy tool for high school students.

“The Reality Fair was an eye-opening experience for a lot of these teens,” said Tanya Thomson, Art Teacher at Washington Metropolitan High School.

“It feels like the students learned a semester’s worth of meaningful material in just two hours at the Reality Fair,” said Landon Southerly, Math Teacher at Capital City Public Charter School.

The fair was held at the Rayburn House Office Building on Wednesday, February 27, 2013 with students from Capital City Public Charter School, Luke Charles Moore Academy, and Washington Metropolitan High School in attendance. Many others stopped by to observe the fair, including Members of Congress and GAC attendees during their “Hike the Hill” visits.

“The students learned so much at the Reality Fair,” said Vibha Robinson, Business Manager at Luke C. Moore Academy. “I wish I went through this when I was in high school!”

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Unique “Kid’s CU” From Southern Chautauqua FCU Reaching Youth

2013-02-20T06:00:00Z

Through its innovative “Kid’s Credit Union” program, Southern Chautauqua Federal Credit Union continues to reach more youth in the communities it serves, expanding over 200% in area schools last year. Southern Chautauqua FCU received a grant for the program from National Credit Union Foundation (NCUF) to cover the cost of materials.

The Kid’s Credit Union project begins with providing financial education to second graders in Southern Chautauqua FCU’s community and follows these young individuals through to their graduation in high school. There are yearly goals for the individuals to meet with the end goal to graduate with a balance in their accounts of over $10,000.

“The vision of the credit union is to strengthen these students’ financial position so they will have a positive impact in the workforce after high school and become the community’s bright future,” said John Felton, President/CEO at Southern Chautauqua FCU. “The best way to affect the future is to teach a child the value of saving money and rewarding them for their efforts.”

“Educating youth on the importance of saving and being financially savvy is critical,” said Lois Kitsch, National Program Director at NCUF. “Southern Chautauqua FCU’s Kid’s Credit Union program is a great mix of financial education with an attractive savings product.”

Kid’s Credit Union – Teaching Money Management & Savings
Kid’s Credit Union is a ten-year project, educating participating students on the “Save First” philosophy that Southern Chautauqua FCU has adopted. Southern Chautauqua FCU established Kid’s Credit Union in 2005 and began in two elementary schools. The credit union now works with six area elementary schools, each of which is located in low income designated areas within the community. Southern Chautauqua FCU uses their own financial education curriculum in the schools and employees teach the lessons. They also donate piggy banks to get students started saving.

One major difference in the Kid’s Credit Union program from setting up a standard savings account for these students is in the structuring of their account as certificates. A schedule is given to the participants so they see how their money will grow if they continue through the ten-year process. Every student receives a certificate of completion at the end of the school year. As the end of the school year nears reminders are given to the participating students of the amount in their accounts with the amount needed to achieve their goal for that year.

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CU Orgs Invited to Hold a “Financially Fit Day” on April 3rd

2013-02-13T12:00:00Z

The National Credit Union Foundation (NCUF) is inviting credit union organizations to hold a “Financially Fit Day” on April 3, 2013 to kick off National Financial Literacy Month. This fundraising day is part of a relatively new campaign, entitled “Credit Unions Support Financial Education: Leading the Way to Financial Freedom.”

In order to join in this initiative, credit unions can carry out either (or both) of the following activities to fundraise among staff and members:

holding a “Financially Fit Day” on Wednesday, 4/3/13
fundraising throughout the month of April

Fundraising could be as simple as a jeans or casual day for staff, but additional ideas are included in a toolkit at financialeducation.coop, the campaign website. Also included on the website are other campaign resources such as optional pledge forms, sample newsletter articles, sign-up sheets, stickers, flyer, statement stuffer, wall pin-up templates, a YouTube video, web buttons, and more.

“Holding a casual day on April 3rd is a simple way for credit union organizations to make an impact on state and national financial education efforts,” said Christopher Morris, NCUF Director of Communications. “With the campaign toolkit and templates, we’ve also tried to make it as easy as possible to participate.”

Last year, NCUF and the Texas Credit Union Foundation developed this initiative to raise awareness of financial education and also raise funds for programs and grants of NCUF and state credit union foundations. It was successfully piloted in partnership with a few state credit union foundations and the State Credit Union Foundation Network encouraged broadening the campaign for 2013, inviting all credit unions and leagues to participate.

Credit unions are also encouraged to leverage this campaign as part of a broader appeal to staff and members around financial education. This could include things such as raising awareness of educational offerings by the credit union, the optional campaign pledges, financial education tips, and more.

“If credit unions want to do more than casual days or fundraising, we encourage them to be creative in their efforts and use any of our materials as a starting point,” said Morris.

Donations made as part of the initiative will be split 50/50 between NCUF and the state credit union foundation in which the donation was made. The donations can be made at financialeducation.coop.

2013 Wisconsin Scorecard - WI CUs Saved Consumers $1B Since Recession

2013-02-12T12:00:00Z

From the Wisconsin Credit Union League – Wisconsin credit union members saved close to $1 billion since the start of the Great Recession in 2007 through competitive rates on savings and loans and lower and fewer fees for financial services according to the Credit Union League’s 2012-13 Scorecard. The Scorecard is an annual report prepared by the Wisconsin Credit Union League detailing credit unions’ economic impact and commitment to social responsibility.

The League’s Scorecard highlights the fact that credit unions lead the state in financial education by operating 100 in-school branches that have helped students save $3 million and get hands-on business experience. Credit unions delivered 5,500 presentations to 34,000 consumers to improve their financial savvy, purchased 41,330 copies of a personal finance magazine to help 382 teachers at 309 high schools teach money management. Credit unions engaged close to 15,000 students in financial decision making through reality fairs and the online game Money Mission®.

Other Scorecard highlights include the fact that credit unions operate 40% of all the financial institution branches in low-income areas, providing $44 million in savings for lower-income consumers. The report also notes that most credit unions still offer free checking.

Since the start of the recession, credit unions have also increased their lending to small businesses by 55% to compensate for a lack of business credit from banks.

“Credit unions are united for good,” said Brett Thompson, President & CEO of The Wisconsin Credit Union League. “The Scorecard provides a clear picture of how credit unions build financially strong, self-sufficient families, business and communities in Wisconsin.”

The vast majority of credit unions offered loans to members of $500 or less as an alternative to costly payday loans. Credit unions also outperformed non-credit union lenders by approving 67.7% of home loans for low-income borrowers and 70.4% of home loans for minority borrowers, compared to a 57.1% and 56.5% approval rate by others, respectively. The report cites credit unions’ 30,000 hours of free financial counseling to 20,000 individuals that have prevented home foreclosures and improved borrowers’ creditworthiness.

> Click Here to Download the Wisconsin Scorecard

Filene’s Experiential Learning Colloquium a Success

2013-02-04T12:00:00Z

Credit unions learned about a more effective way of reaching out to large member groups at the Filene Research Institute’s Experiential Learning Colloquium held Jan. 31 at The Carter Center in Atlanta.

“Credit unions have always been committed to financial literacy and members’ well being, but traditional outreach, especially to large groups like students and select employee groups, often falls short,” said Ben Rogers, research director at Filene. Filene brought together five experts to explore the foundations of financial literacy and help credit unions ensure that the money they spend reaching out to members helps members to make better financial decisions.

Each of the speakers presented ideas that credit unions can use to help their members learn through doing. “Offering a flyer or a presentation isn’t enough to truly help members become financially capable. Most of us learn best through experiential learning – or learning through doing,” said Rogers.

"Credit unions must provide a variety of financial education channels and they must offer convenience, excitement and rewards," said attendee Linda Birt, community outreach director at People’s Trust Federal Credit Union in Houston. "Learning by doing has profound benefits especially in financial education."

Presenters and topics at the colloquium included:

Professor Lou Centini – Experiential Learning Foundations. Centini, professor at the University of Virginia’s Darden School of Business, explored the theoretical foundations of experiential learning. From South Pole expeditions to progressive business schools, he offered examples of experiential learning and its application in helping make better personal finance decisions.
Tim Vandenberg – Young Tycoons: A Better Way to Teach Math. Vandenberg, an accomplished Monopoly player, star of the 2010 documentary Under the Boardwalk, and sixth-grade teacher in the Hesperia Unified School District, explained how he uses gamification to bring a record number of disadvantaged students past state standards and teaches them to love math along the way. “Monopoly can teach math from every angle,” said Vandenberg.
Jason Young and Ty Moore – Revolutionizing Financial Capability through Mobile Gaming. According to Young, the founding partner of Mindblown Labs, 94 percent of college students text every day; 75 percent sleep near their mobile phones and 60 percent are “addicted” to their phones. Young and Moore, director of business development at Mindblown Labs, discussed how the app revolution makes it easier and more fun than ever to learn financial life skills.
Professor Lance Palmer – VITA Sites and Joint Learning. Experiential learning thrives on timing. “What’s more regular than tax time?” asked Palmer, professor of Housing and Consumer Economics at the University of Georgia. Palmer connects Georgia United Credit Union ($925 million, Duluth, Ga.) with financial planning volunteer students from the University of Georgia. He demonstrated how helping credit union members during tax time can benefit the students who help, the members who learn, and the credit union that serves both.
Lois Kitsch – Life Simulation. Kitsch, national program director, National Credit Union Foundation, presented The Life Simulation experience, which is designed to help credit union employees, volunteers and leaders understand what it might be like to live in a typical low-income family trying to survive from month to month. “Credit unions help members every day who have difficulty managing money or who live paycheck to paycheck. Walking in another’s shoes is a far more effective way to sensitize others to the needs of low-wage working families and help them become more financially literate,” said Kitsch.

The event was presented through generous support from CO-OP Financial Services and the National Credit Union Foundation. “We’re incredibly grateful for the mentorship and support of our partners. Giving credit unions access to these innovative experts are vital to future of our industry,” said Rogers.

About Filene: The non-profit Filene Research Institute is a consumer finance think tank serving the North American credit union system of $1.5 trillion in assets and more than 106 million members. Filene publishes objective research and fosters consumer-focused financial innovation. The Institute collaborates with leading researchers and academic institutions worldwide.

Illinois CUs Kick off 3rd Year of Financial Counseling Program

2013-01-30T06:00:00Z

For the third year, the Illinois Credit Union Foundation is bringing the REAL Solutions enhanced version of the Credit Union Financial Counseling Certification Program (FiCEP) to the credit unions of Illinois.

This is a unique partnership between the National Credit Union Foundation/REAL Solutions, Credit Union National Association’s Center for Professional Development (CUNA CPD), the Illinois Credit Union League and Illinois credit unions to train staff who are then able to give professional financial counseling and education to members and potential members throughout the state.

The Illinois program for 2013, which begins today, will see 57 new participants from 19 credit unions as well as representatives from CUNA Mutual Group take part. In the first two years of the Illinois program, more than 60 individuals from 30 credit unions “graduated” as Certified Credit Union Financial Counselors (CCUFC). Each year, a “class reunion” is held with the new crop of CCUFC’s, along with other individuals who have previously achieved this designation.

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Click Here to Learn More about the Enhanced FiCEP

CUs Encouraged to Apply for New NCUF Biz Kid$ Financial Education Grants

2013-01-29T12:00:00Z

Credit union organizations can now apply for new Biz Kid$ Financial Education Grants from the National Credit Union Foundation (NCUF) through March 31, 2013.

“There is a need to improve the financial literacy skills of the youth in America and Biz Kid$ is the perfect vehicle to address that need,” said Danielle Brown, Biz Kid$ Program Coordinator for NCUF. “We are looking to fund innovative programs that improve the financial education of youth through the use of the Biz Kid$ program and encourage you to apply.”

The application can be found here or by visiting ncuf.coop>Foundation Programs>Biz Kid$>Apply for a Biz Kid$ Financial Education Grant.

Questions about Biz Kid$ or the grant process can be directed to Danielle Brown at (971) 295-6800 or via email at bizkids@ncuf.coop.

For more information about Biz Kid$, click here.

Truliant FCU Assisting Entrepreneurs in Underserved Areas with Financial Literacy

2013-01-22T12:00:00Z

Thanks to Truliant Federal Credit Union’s Rural Entrepreneurship through Action Learning (REAL) Entrepreneurship Program, small business owners and entrepreneurs are receiving a comprehensive education on financial and business literacy in underserved and rural communities in North Carolina.

Truliant FCU used an innovative and experiential entrepreneurship training curriculum, developed by North Carolina REAL Enterprises, Inc., an organization whose mission is to develop entrepreneurial talent through action learning and to foster the creation of sustainable enterprises throughout North Carolina, with special emphasis on rural communities. Truliant FCU received a grant for the REAL Entrepreneurship program last year from the National Credit Union Foundation (NCUF) to cover the cost of instruction and materials for program classes.

“Our goal is to work with entrepreneurs in low wealth and rural communities to provide money management skills that improve their financial position and also build their financial strength to access more products and services,” according to Marjorie Rorie, Director of Community Services for Truliant FCU.

“Truliant FCU’s focus on experiential learning for their REAL Entrepreneurship program is a great approach,” said Lois Kitsch, National Program Director at NCUF. “At the National Credit Union Foundation, we’ve found experiential learning strategies to be one of the keys to a successful financial literacy program.”

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Acadia FCU Recognized Nationally for Youth Financial Literacy Efforts

2012-12-19T06:00:00Z

After receiving a first place nod in the state of Maine for partnering with the University of Maine at Fort Kent (UMFK) and working with them to create a Financial Literacy Program for the youth of the St. John Valley, Acadia FCU has been awarded second place at the National Level. The National Desjardins Award for Youth Financial Education honors credit unions for their commitment to youth financial literacy. This year, organizations from 29 states entered the competition with 5 first place winners, 3 second place winners and 4 honorable mentions.

A little over a year ago, Acadia FCU and UMFK decided to create a partnership that would help address the absence of Financial Literacy among our local youth. Since its inception, the Partnership has launched and implemented two comprehensive programs at separate grade levels.

The Benny Banks program assists second grade students in learning the importance of saving their money for college. The Dollars & $ense Financial Fair provides sixth graders with tools to understand the banking process, part-time job opportunities, and the potential of their allowances. Since their implementation last year, these programs have won high praise from local students and teachers as well as recognition from the Maine Credit Union League and the National Credit Union Foundation.

The third component of the Financial Literacy Program, targeting high school juniors, will be implemented this year. Originally, the program was called FAFSAmbassadors, and focused on helping students with the college financial aid process. The curriculum, however, was limiting and has been reconfigured to create a more comprehensive approach consist with the financial needs and future plans of high school students. The program has been renamed Oinkonomics, and will be delivered completely online so that students can access modules in the classroom, from home, or on the go.

“We are thrilled to have received recognition for our partnership with UMFK and for the collaborative work that has already been done,” commented David Desjardins, President/CEO of Acadia FCU. “We plan to continue innovating new ways to encourage local youth to become more aware and prepared for their financial futures.”

Click here to read more about Acadia FCU’s financial literacy efforts (May 2012)