April 30, 2007
In the attached photo, cPort CU's Augusta Branch manager, Beth Osborne, explains credit to two high school students.
With the month of April again being proclaimed by Governor Baldacci as Financial Literacy for Youth Month, the Kennebec Valley Chapter of Credit Unions drew more than 100 Juniors and Seniors from eight area high school to the first-ever Financial Fitness Money Management Experience event for the Kennebec Valley region. The event was held on Friday, April 27, 2007 at Kennebec Valley Community College in Fairfield. Area high schools represented included: Carrabec High School in North Anson; Cony High School in Augusta; Erskine Academy in South China; Goodwill-Hinckley School in Hinckley; Lawrence High School in Fairfield; Maranacook High School in Readfield; Skowhegan Area High School in Skowhegan; and Temple Academy in Waterville.
The following credit unions comprise the Kennebec Valley Chapter of Credit Unions (listed in alphabetical order and location of main office): Alliance of Maine FCU in Augusta; Capital Area FCU in Augusta; Franklin-Somerset FCU in Skowhegan; Gardiner FCU in Gardiner; HealthFirst FCU in Waterville; KSW FCU in Waterville; KV FCU in Augusta; Maine Education CU in Augusta; Maine State CU in Augusta; New Dimensions FCU in Waterville; Riverview FCU in Gardiner; Sebasticook Valley FCU in Pittsfield; Winslow Community FCU in Winslow; Winthrop Area FCU in Winthrop; and Taconnet FCU in Winslow.
The Financial Fitness Money Management Experience 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. 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.
Cathy Bond, President/CEO of Winslow Community FCU and chair of the Chapter's Financial Fitness Fair, said she was "extremely pleased with the turnout and response from attendees. Both students and teachers thanked us for offering this learning opportunity in this type of format and setting. We look forward to making this an annual event that will include additional area high schools in the coming years. The lessons that are provided through this fair are invaluable in helping prepare kids to become financially-savvy and successful adult consumers."
"Recent statistics confirm that today's American children, teens and young adults are spending money at a rate that is more than four times the rate at which they are saving money each year. 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."
Representatives from the Kennebec Valley Chapter of Credit Unions, the Maine Credit Union League, the Maine Council on Economic Education and Central Maine Community College have helped to organize the Financial Fitness Money Management Experience. The event closed out a month-long list of activities coordinated by Maine's credit unions as part of Governor Baldacci's proclamation of April as "Financial Literacy for Youth" month, a proclamation that praises the efforts of Maine's credit unions on behalf youth financial education.
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