Maine credit unions are at the head of the class for financial literacy efforts in 2010/11. In the past year, nearly 50 Maine credit unions have been active in promoting youth financial education.  From volunteering and teaching financial literacy in local schools and operating in-school branches to participating in one of the Youth Financial Fitness Fairs coordinated by Maine’s credit union and Maine Credit Union Youth Week, the Maine Credit Union League and Maine’s credit unions exposed nearly 8,500 Maine students last year to financial literacy and money management concepts.

One of the most notable financial literacy efforts made by Maine credit unions was the record number of credit unions that coordinated Financial Fitness – Money Management Experience Fairs in the past year. Similar to an interactive ‘game of life,’ these events give high school students an opportunity to gain some real world understanding of money management.  There are now ten major fairs in northern, eastern, central and southern Maine as well as ten smaller ones in various parts of the state. 

To help Maine teachers bring financial education into their classrooms, the Maine Credit Union League have introduced a partnership with FoolProof, a turnkey, web-driven financial literacy program. With a number of credit unions already offering the program to students and members, it is one more way that Maine credit unions are working to prepare Maine’s youth for a successful financial future.

Maine credit unions are also a valuable resource for helping adults with money management and financial planning.  From providing tools to help members better manage their money, to hosting seminars on subjects such as decreasing debt or buying a home, Maine credit unions help Maine people of all ages achieve a secure financial future. 

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.

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