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PHOTO: Ronni Williams, of Lisbon Community Federal Credit Union, elps a student with decisions about housing options. (Submitted photo)
LISBON – Several staff members of Lisbon Community Federal Credit Union spent the full school day March 21 helping high school students from Lewiston High School learn about finances through a hands-on lesson. About 300 students attended.
Maine credit unions introduced the concept of youth financial education in 2004, calling it “A Money Management Experience.” The award-winning events target high school juniors and seniors and are similar to the game of “LIFE,” where participating 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. Maine’s credit unions have received 11 consecutive Desjardins Awards for Youth Financial Education, a feat that is unmatched, and 18 in total from the national awards program that recognizes youth financial literacy efforts.
Credit union attendees at the event included staff from 11 credit unions from central and western Maine.
Since the program’s inception in 2004, more than 70,000 Maine students have become fiscally fit after participating in a fair.
Visit mainecul.org/community-outreach/financial-literacy/financial-fitness-fairs for upcoming fairs.
Lisbon Community Federal Credit Union was founded in 1959 and serves more than 10,000 members in Lewiston, Auburn, Durham, Lisbon, Sabattus, Bowdoin, Topsham and Pownal. Branches are at 325 Lisbon St., in Lisbon, and 802 Sabattus St. in Lewiston.
For information visit www.lisboncu.org or call 207-253-4144.
