Credit Unions Champion Youth Financial Education

Spending money has never been easier than it is today, especially for America’s youth who spend over $200 million annually.

More and more credit is being extended to this segment, with one-third of high school seniors using at least one credit card and a third of college graduates entering the work force with between $10,000 and $25,000 in credit card and student loan debt.

Statistics show that far too few young people learn life skills that will ultimately lead to their personal financial success.

Now credit unions have stepped up to champion this much needed initiative, utilizing an interactive learning tool, CU 4 Reality, to help students understand budgeting and the financial choices they begin making in their not-so-distant future.

CU 4 Reality was conceived and introduced through the Financial Literacy Education Committee of America's Credit Union Museum, a committee which draws from a cross-section of experienced professionals across credit unions. Since its introduction in 2005, and participation from nearly 3000 students since that time, CU 4 Reality has been praised by educators, parents, students, and credit union professionals for its adaptability and hands-on learning experience.

CU 4 Reality is flexible and dynamic and can be tailored to meet the needs of a variety of age groups, and various segments such as military and DoD youth, or civilian.

What is CU 4 Reality?

The program begins with a classroom curriculum, developed by educators for educators. This curriculum can be adopted in whole or in part and seamlessly integrated into an existing classroom curriculum. After completion of the curriculum, the students participate in a CU 4 Reality Fair, a simulation of spending and budgeting based on career choices and lifestyle decisions. Through creating personal budgets and allocating dollars for clothing, food, housing, utilities, transportation, and more, these students can begin to shape intelligent thought processes and develop a sound appreciation for money that can be built on in future school years.

Testimonials and Program Appreciation

CU 4 Reality originated in the state of New Hampshire through the collective efforts of educators and credit unions. The New Hampshire Banking Commissioner, Peter C. Hildreth, has been a major supporter of the CU 4 Reality program since its inception. Commissioner Hildreth notes: “As Commissioner, I am concerned about the lack of financial literacy among our young people. I know of several programs aimed at teaching people of all ages about budgeting and finance, but I believe that CU 4 Reality is the best I have seen. I wish they had a program like this when I was growing up.”
Sample Comments from Students who Attended CU 4 Reality Fairs

What Can a Credit Union Gain from Sponsoring a CU 4 Reality Fair?
All organizations involved in CU 4 Reality gain in so many ways. Sponsoring a CU 4 Reality Fair allows participating credit unions to extend their mission of providing financial education to the youth segment, a segment in need. CU 4 Reality also provides an excellent platform to reach out to schools and community businesses to partner with on these critical issues, as well as to help forge new business and community relationships. Plus, you will be building more sound financial thinking from among your potential future members.

The CU 4 Reality program is ideal to increase financial awareness and readiness among military youth. It can also be implemented among our underserved communities, further increasing credit unions’ focus on social responsibility.

# # #

America’s Credit Union Museum (ACUM) promotes the heritage of the credit union movement through the preservation of the industry’s history. ACUM is housed in the building of the first U.S. credit union in Manchester, NH. Additional information about ACUM can be found at www.acumuseum.com.

Credit unions are not-for-profit financial cooperatives. They offer a variety of consumer financial services to 370,000 New Hampshire residents and over 85 million Americans. The New Hampshire Credit Union League represents the 28 consumer-owned credit unions in the state. For more information, please visit www.nhcul.org.

For more information, call the museum at 603-629-1553 or visit its web site at www.acumuseum.org.