March 28, 2008 More than 200 high school students had the opportunity to get a glimpse of their potential financial future at a Financial Fitness Money Management Experience event, coordinated by the Aroostook Chapter of Credit Unions and the Maine Credit Union League, and held on Wednesday, March 26, 2008 at the Loring Job Corps Center in Limestone. While this is the fifth year these events been held in Maine, it is the first time it has been held in Aroostook County. Attendees included students from Presque Isle High School, Fort Fairfield High School, Caribou High School, Limestone High School, Fort Kent High School, Van Buren High School, Madawaska High School, Wisdom High School and Loring Job Corps.
The Financial Fitness Money Management Experience was created by Maine's credit unions 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. The half-day event is unique because it allows students to consider a serious issue in a fun way. Students are asked to participate in an interactive 'game of life,' in which they map out what their financial future would be at the age of 22, according to a scenario packet that they receive, which determines their occupation, income and credit history. Students then have the task of creating a 'Spending Plan' according to 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'," remarked Jon Paradise, Governmental and Public Affairs Manager for the Maine Credit Union League and Master of Ceremonies for the day. "Maine's credit unions are proud to be part of the educational process and to once again be presenting this program that has proven to be very popular with students. Our goal is not only to educate participants of the Financial Fitness Money Management Experience, but also to make it enjoyable for them to learn."
Students were rewarded for their efforts with lunch, drawings for gift cards, and a chance to win cash by playing Plinko. However, as one teacher explained, it was the opportunity to gain a better understanding of the reality of finances that was the real reward. "The design of the workshop helped our students become engaged. It was a great learning experience for my students. "Students were equally positive with comments, such as, "Wow! What a great way to learn without having consequences," and "This was a reality check for me and my future plans. Thank you so much for putting this on."
Representatives from the Aroostook Chapter of Credit Unions including Acadia FCU, NorState FCU, St. Agatha FCU, and The County FCU, the Maine Credit Union League, and Loring Job Corps helped to organize the Financial Fitness Money Management Experience.
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