Maine credit unions are top scholars when it comes to financial literacy in our state. Credit union staff and volunteers ensure this by teaching financial literacy in local schools and helping coordinate in-school branches. Additionally, many Maine credit unions participate in one of the Financial Fitness Fairs coordinated by Maine’s Credit Unions and Maine Credit Union Youth Week for high school students and young adults.
Maine credit unions are also a valuable resource for helping adults with money management and financial planning. Credit unions want their members to be well informed so they can make the best financial decision possible. From providing tools to help members better manage their money, to hosting seminars on subjects such as decreasing debt or buying your first home, Maine credit unions help Maine people of all ages achieve a secure financial future.
For these leadership efforts, the Maine Credit Union League and Maine’s Credit Unions were recently presented with their 14th national Desjardins Youth Financial Education Award from the Credit Union National Association. The prestigious award recognized the League and Maine’s credit unions for its continued leadership in developing initiatives and programs for expanding participation and awareness in youth financial education for Maine students.
Financial Fitness Fairs
During the 2015-16 school year a total of 6,904 students from more than 115 high schools in Maine participated in a Financial Fitness Fair: A Money Management Experience. More than 35 Financial Fitness Fairs were hosted last school year, and to date, have been attended by more than 38,000 students across the state of Maine. At these fairs, credit union staff and volunteers help students complete a budget after facing real-world financial decisions, ranging from the kind car they will drive, the student loan they will need, and the type of cellphone plan they can afford. For many, it’s their first time talking about saving, spending, budgeting and credit scores.
For more information about the efforts of Maine’s credit unions towards both youth and adult financial literacy, visit www.mainecul.org and click on the Financial Education and Resources link in the “Community Involvement” section.