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CU System
Maine CUs fair helps students flex financial muscles
AUBURN, Maine (4/7/08)--Maine credit unions held their fifth annual Financial Fitness Money Management Experience Event Wednesday at Central Maine Community College, Auburn.
Margie Gagne (left), president/CEO of Monmouth (Maine) FCU, assists a student at the credit booth during the Annual Financial Fitness Money Management Experience for high school students in the Lewiston and Auburn, Maine, area. (Photo provided by the Maine Credit Union League)
The event was held last week to coincide with Maine Gov. John Baldacci’s proclamation of April as Financial Literacy for Youth Month. In attendance were nearly 150 students from eight area high schools. The event was created to address the growing need for increased financial literacy in Maine schools and the lack of understanding that many teens experience with regard to their personal finances, according to the Maine Credit Union League. In the half-day event, students were asked to participate in an interactive “game of life,” in which they map out what their financial future would be at age 22. A scenario packet they receive determines their occupation, income and credit history. Students then have the task of creating a “spending plan” in accordance with their income and expenses. “Financial literacy is so important, especially at this time of year, when students are nearing graduation and getting ready to get out into the real world,” said Jon Paradise, league governmental and public affairs manager, and master of ceremonies for the day. “Our goal is not only to educate participants about the Financial Fitness Money Management Experience, but also to make it enjoyable for them to learn.” Representatives from the Norm Nolette Chapter of Credit Unions, the league and Central Maine Community College organized the event.
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