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LISBON — Lisbon Community Federal Credit Union spent the full school day of March 4 helping high school juniors and seniors from Lewiston High School learn about finances through a hands-on lesson. About 400 students attended.
Maine credit unions introduced “A Money Management Experience,” which helps youth with financial education, in 2004. The award-winning events target high school juniors and seniors and is similar to the game of LIFE — students are given a career and monthly income and then have to visit booths associated with 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.
The Maine Credit Union Movement is the most-honored credit union movement in the country when it comes to youth financial education, according to a news release from the credit union. Maine’s credit unions have received 11 consecutive Desjardins Awards for Youth Financial Education, a national awards program that recognizes youth financial literacy effort.
Credit union attendees at the March 4 Lewiston event included staff from 11 credit unions from central and western Maine.
Nearly 61,000 Maine students have gotten fiscally fit through one of the fairs, including 7,726 students during the 2018-19 school year.
To find fairs coming up this spring, visit mainecul.org/community-outreach/financial-literacy/financial-fitness-fairs.
PHOTO: Andrea Grant of Lisbon Community Federal Credit Union helps a student with decisions about credit options.
