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CUs help youth prepare for a secure future
MADISON, Wis. (4/7/10)--President Barack Obama and several governors Monday proclaimed April as Financial Literacy Month. However, credit unions nationwide already are active in at least one financial literacy area--helping youth prepare for a secure financial future.
Click to view larger image Kim Watson (right) of The County FCU, Caribou, Maine, helps a student with his food budget at the Financial Fitness--A Money Management Experience in Limestone, Maine. The event was coordinated by the Aroostook Chapter of Credit Unions. High school juniors from throughout Aroostook County participated. (Photo provided by the Maine Credit Union League)
Business Development Manager Adriana Brunner (right) at San Diego-based Point Loma CU’s San Marcos branch poses with GEAR UP (Gaining Early Awareness and Readiness for Undergraduate Programs) members at an outreach program. (Photo provided by Point Loma CU)
Some examples are:
* The Aroostook Chapter of Credit Unions in Maine held its third annual Financial Fitness Money Management Experience at the Loring Job Corps Center in Limestone, Maine, March 30. Nearly 350 students attended, leaving with a better understanding of the financial challenges that they may face in the future, said the Maine Credit Union League. The day’s interactive “game of life” builds awareness for youth education and for credit unions’ dedication to financial literacy in their communities. The Financial Fitness Money Management Experience is a half-day event during which students check in and receive a scenario packet of their life at age 22, which includes their occupation, income and credit history. From there, students map out their financial future from financing their housing to purchasing food and clothing. * San Marcos High School students received an inside look at how the financial services industry operates during a Job Shadow Day program at San Diego-based Point Loma CU’s local branch in San Marcos, Calif. The tour was organized by Palomar College as part of its GEAR UP (Gaining Early Awareness and Readiness for Undergraduate Programs) outreach. California’s GEAR UP program enables low-income students to develop the skills necessary to succeed in college. Palomar College partners with local businesses to introduce middle and high school students to career options. * San Mateo CU (SMCU), Redwood City, Calif., is sponsoring April as Youth Month to commemorate this year’s National Credit Union Youth Week, April 18 to 24. The celebration will be marked by several special events and promotions. The theme of the festivities, “Get in the Savings Game,” has been developed by the Credit Union National Association (CUNA) to teach children of all ages the value and rewards of saving money. In keeping with the sports concept, children can select a prize from basketballs to soccer balls to footballs, softballs and playground balls--for every five deposits they make into an SMCU youth savings account. SMCU also will feature a 12-month add-on youth certificate of deposit with a 1.25% annual percentage yield. After the initial purchase date, additional funds may be deposited with the same interest rate. * Rome, N.Y.-based AmeriCU branches throughout its eight-county area Thursday kicked off the first, official day of the month-long celebration of the annual Credit Union Youth Month. For the third year in a row, AmeriCU has expanded CUNA’s Youth Week to a month-long celebration, giving its staff more time to interact with the youth who come to learn about financial education and literacy. AmeriCU representatives will emphasize the importance of youth earning, spending, saving and managing their own money. Featured are prizes, literacy workshops and games to engage youth ages 5-18 with appropriate, age-related tips on how and why saving money is important, or why they should keep saving if they already save.
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