Why is youth education important?
The lack of financial literacy in America is troublesome. Only 27% of Americans state they feel well-informed about managing their household finances. While parents are generally considered the primary source of financial education for their children, only 26% feel competent about teaching personal finances to their children. The younger children are when they learn the basics of financial education, the more astute they will be as consumers regardless of age. Youth are likely to know more about their iPods than personal finance.Why should credit unions care?
Credit union membership is aging. It is vital to the future of credit unions to attract and retain younger members. But it is also critical that these younger members have the financial knowledge to save and borrow money responsibly. Many are not learning these skills either at home or in school. A further problem is that many young people are not familiar with credit unions. So even if they have good financial skills they may be taking those to banks.What can credit unions do?
Credit unions can become active in their area elementary and high schools and teach financial literacy. Many states are beginning to mandate that financial education be taught in high schools, but schools don’t have the resources or perhaps even the skills to teach financial literacy. Credit unions can step in and fill those voids and make the learning process fun, as well as informational.High Plains
Clovis, NM
Stash Yo Cash » View details
A free on-line virtual stock exchange game is used to introduce freshmen to the ups and downs of the stock market. Each student starts with $100,000 to invest and each selects a portfolio of stocks and buys and sells based on real market conditions.Heartland
Madison, WI
Mad City Money » View details
In October 2009, approximately 1,300 high school students took part in CUNA’s Mad City Money through a partnership between Heartland CU and four Madison public high schools. Mad City Money is a budgeting simulation program for teens that teaches them the realities of living life as an adult.Arapahoe
Centennial, CO
Seeds for Financial Success » View details
The Director of Financial Education at Arapahoe CU has made 254 presentations to 6,000 students in Centennial’s seven school districts on budgeting, checking account basics, identity theft, purchasing a car and the uniqueness of credit unions. Students are encouraged to join the credit union to put their new skills to work.Suggested Pilot Programs
Washington, DC
