Credit union volunteers at the Associated School ECU's Financial Starting Points workshop for 250 high school students.

“Real world” event offers an eye-opening experience
More than 700 high school juniors and seniors from 14 schools walked through the Northwest Chapter’s Finances 101: Walk the Walk, Talk the Talk, a life-sized, hands-on version of the game LIFE. Upon arriving, groups of eight students sat down with a credit union volunteer and received a checkbook with information about their jobs and salaries, taxes owed, student loan payments, and existing credit card debt. Students had to deposit their incomes, set aside 10% for savings, and pay taxes and their student loans. Volunteers were on-hand to help students write checks and record income and expenses in their checkbook ledgers. The teens then proceeded through a series of stations in which they were assigned children, acquired insurance, made decisions about transportation and housing, purchased groceries and personal amenities, and more while managing their funds. By the end of the experience, students understood how buying decisions affect earnings, the costs of running a household, and how to live within their means. ”Our event has grown a great deal since its inception, so we created a Web site that allows teachers and volunteers to register for the event,” said Melissa Gregg of Sun FCU. Beth Carpenter of TPS CU stresses the importance of community partnerships when recruiting volunteers for a reality day event. “The number of volunteers needed depends on the number of stations and students, and the length of your program,” said Carpenter. “Don’t forget to include local businesses in your volunteer pool.” The Northwest Chapter will host its next Finances 101 in fall 2009. Credit unions interested in seeing the experience firsthand can volunteer at the link below.
http://www.finances101thegame.org/


Student-run CUs build foundation for future membership
FirstDay Financial Federal Credit Union’s third student-run credit union opened this fall in the Miami Valley Career Technology Center. The credit union is staffed by seven financial management class students, who opened 16 accounts for fellow students prior to the grand opening. Students, faculty, and staff can open savings/checking accounts, make deposits, cash checks, apply for ATM/debit cards, obtain certificate and loan rates, make VISA payments, and sign-up for online banking and e-statements at the student-run branch. The student staff process transactions through the credit union’s online banking system and deposits are collected each day. Similar transactions are offered and conducted at FirstDay Financial FCU’s other student-run branches.

"The two things one needs when undertaking a project such as a student-run credit union is patience and a school champion/liaison that embraces the project,” said Zack Clark of FirstDay Financial FCU. He emphasizes the importance of meeting with every student member to review how to responsibly maintain and balance a checking account. FirstDay Financial FCU believes that student-run credit unions allow the seeds of financial success to be scattered and lives to be touched in a way that reflects the essence of the Credit Union Movement.

Students from Miami Valley Career Technology Center's financial management class are excited to operate FirstDay Financial FCU's latest student-run credit union.

Classroom reality day program creates unique CU experience
Universal 1 Credit Union in Dayton has created an over-sized reality day board game students can use in the classroom to see what life will be like after high school. “Life After High School” simulates the financial challenges of independence by having students make choices about saving or spending money, and determining needs from wants. First, students draw a “Life” card that determines their jobs, monthly incomes, bills, and student loan payments. They then draw a “Last Month's Leftovers” card that details the balance of their accounts. Some students begin with a very tight budget due to their previous balances or monthly incomes. Both scenarios require students to think before making financial choices. As they race to the finish line, students encounter additional challenges, such as unexpected cell phone service charges and dinners out. After they finish navigating the game board, which follows a calendar month, students must balance their accounts. “After the students balance their accounts, the real fun begins,” said Danielle Deramo of Universal 1 CU. “Students share their financial choices with the rest of their classmates, and their comments show how little they comprehended about personal finance prior to the game.” The credit union hopes to offer the game to other credit unions as a financial education tool in the near future.



Grants Spotlight
Disaster Relief: The Ohio Credit Union Foundation granted $5,000 in disaster relief to the National Credit Union Foundation (NCUF) to help Texas credit unions and their staffs and members who were affected by Hurricane Ike. It was the second disaster relief grant issued by the Foundation in 2008. OCUF Executive Director Becky Hart noted, “The Ohio Credit Union Foundation is proud to be able to provide this grant to the victims of the devastating hurricane." Credit unions interested in offering financial support for national disasters can donate anytime through the NCUF’s online giving center, CUAid.
http://www.cuaid.coop


Professional Development: Ann Gallas of St. Luke's Parish Federal Credit Union attended the Credit Union National Association’s “Management Essentials for Supervisors: Advanced” training program. Gallas attended the introduction program in 2007, which focused on selecting and retaining great employees, avoiding  employment legal issues, coaching staff for top performance, and dealing with performance pitfalls. According to Gallas, “Happy employees create a good working environment and productive credit union.” The advanced program emphasized service culture expertise and strategic thinking and planning. By concentrating on coaching employees for top performance on a day-to-day basis, St. Luke's Parish FCU is preparing for the future.


Financial Education: School Employees Lorain County Credit Union is collaborating with Junior Achievement of Lorain County to create a financial literacy program for area high school students. “The Credit Union CEO Program” will be offered to six schools throughout the 2008-2009 school year, and includes a group project to improve or develop financial services that meet teens’ needs. Upon completion of the program, students will showcase their new product/service lines during a competition at Lorain County Community College. The credit union is increasing its financial education efforts during a time that requires innovative thinking and proactive measures. Current statistics reveal that 1 in 51 homes in Lorain County are in foreclosure. “The program will help us reach young people at a crucial age, a time when they are first starting to earn their own money and making decisions about how to use it,” said Mary Vaughan of School Employees Lorain County CU. The credit union believes the combination of Junior Achievement and National Endowment for Financial Education materials, MoneyAndStuff resources, and CEO management team project will provide students with the financial skills and knowledge needed for a brighter future.



Bright Idea
Is your credit union trying to crack the code of attracting and serving today’s youth? The Filene Research Institute has created CUTomorrow, a clearinghouse for youth strategies, which helps credit unions better understand the youth market. The project publishes research and open-source business plans to help credit unions attract younger members, promising young professionals, and younger volunteers. Members of Filene’s 30 Under 30 Program also post their thoughts, comments, and suggestions regarding young adult issues on the site’s blog.
http://filene.org/home/research/cutomorrow



Professional Development Opportunities
Professional development grants from the Ohio Credit Union Foundation can be used for an array of educational programs, including conferences, seminars, workshops, Webinars, eSchools, and self-study programs. If you are interested in applying for an educational scholarship, visit the Foundation Web site at www.OhioCreditUnionFoundation.org for applications and scholarship information, or contact Ohio Credit Union League Outreach Manager Laura Busque at (800) 486-2917, ext. 227, or lbusque@ohiocul.org.