April 4, 2007  Maine Family FCU's Deb Trautman (r) helps a student at the Fun and Entertainment Booth. With the month of April again being proclaimed by Governor Baldacci as Financial Literacy for Youth Month, credit unions in central Maine drew more than 150 students from nine schools in central Maine to attend the fourth annual Financial Fitness Money Management Experience event, held on Wednesday, April 4, 2007 at the Central Maine Community College in Auburn. In its four years, the event has attracted nearly 700 students and received three consecutive national awards for youth financial education.
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' in relation to their income and expenses.
"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 Norm Nolette 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 also marked the beginning of 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 praised the efforts of Maine's credit unions on behalf youth financial education.
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