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LISBON – Lisbon Community Federal Credit Union spent the morning of Wednesday, March 29, helping high school juniors from several area schools learn about finances through a hands-on lesson. About 200 students attended from Brunswick High School, Lisbon Falls Christian Academy, St. Dom’s, Edward Little High School, Lisbon High School, Spruce Mountain High School, Monmouth Academy and Oak Hill High School.
Maine credit unions introduced the new concept for youth financial education in 2004 entitled, “A Money Management Experience.” These award-winning, half-day events target high school juniors and seniors and is similar to the game of “LIFE,” where participating students are given a career and monthly income and then have to visit booths associated with various expenses that the average adult is faced with each month.
Costs, such as transportation, housing, clothing, food, student loans, insurance and several other everyday expenses, are filled in on a monthly budget form by each student. At the end of the event, the goal is for students to have a monthly budget that does not exceed monthly income.
When it comes to financial education, the Maine Credit Union League and Maine’s credit unions are second-to-none. In fact, the Maine Credit Union Movement is the most-honored Credit Union Movement in the country when it comes to youth financial education. Maine’s credit unions have received eleven, consecutive Desjardins Awards for Youth Financial Education, a national Awards program that recognizes youth financial literacy efforts, a feat that is unmatched.
Credit union attendees at this event included staff from the Norm Nolette Chapter of Credit Unions (Central Maine Credit Union, Community Credit Union, Great Falls Federal Credit Union, Lewiston Municipal Federal Credit Union, Maine Family Federal Credit Union, Monmouth Federal Credit Union, Otis Federal Credit Union, Oxford Federal Credit Union, Rainbow Federal Credit Union, and Sabattus Regional Credit Union), and the Jeannette G. Morin Chapter of Credit Unions (Atlantic Federal Credit Union, Five County Credit Union, Lisbon Community Federal Credit Union, and Midcoast Federal Credit Union).
The 2015-16 school year was the busiest ever with 35 fairs taking place during the school year. A total of 6,904 students participated in one of our fairs. Below is a list of some upcoming fairs that are scheduled for the 2017 school year. Several smaller fairs are also taking place that are not included on this list and they are continually updated at www.mainecul.org/community-involvement/financial-education-and-resources/financial-fitness-fairs/.
It costs nothing for a school to host a fair, and is time well spent.
* Wednesday, April 5, 2017 (OXFORD FCU) – Dirigo High School, Dixfield
* Wednesday, April 5, 2017 (KENNEBEC VALLEY CHAPTER) – Cony High School, Augusta
* Date TBD (OXFORD FCU) – Mountain Valley High School, Rumford
* Date TBD (OXFORD FCU) – Telstar High School, Bethel
* Date TBD (OXFORD FCU) – Oxford Hills Middle School, Norway
For more information about participating and/or attending one of the Money Management Experience events, scheduling a fair or having a school participate in one, please email Jon Paradise at the Maine Credit Union League or call him at 207-773-5671, ext. 273.
PHOTO CAPTION: Tracy Collins of Lisbon Community Federal Credit Union helps a student with decisions about home furnishing options.
