Maine credit unions are at the head of the class for financial literacy efforts. 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 continue to educate consumers of all ages.

Additionally, 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 these leadership efforts, the Maine Credit Union League and Maine’s credit unions were recently presented with a national Desjardins Youth Financial Education Award from the Credit Union National Association. The prestigious award recognized the League and Maine’s credit unions “for consistently striving to expand financial education learning opportunities to reach new audiences and help more students understand money management and personal finance.”

Financial Fitness Fairs

Founded in 2004, Maine credit unions introduced a new concept in youth financial education through Financial Fitness – A Money Management Experience. This award-winning, half-day event targets high school juniors and seniors and is similar to the game of “LIFE,” where participating students are given a career and monthly income and then have to visit booths associated with various 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 monthly budget that does not exceed monthly income.

During the 2011-12 school year, Maine credit unions held a record number of Financial Fitness – A Money Management Experience fairs across Maine. More than 4,000 students participated in one of the Fairs.

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.