Credit Unions Host "Bite of Reality" Financial Literacy Workshop
June 30, 2014
H
awthorne, CA Some 30 teenage children of employees from various Los Angeles area credit unions recently learned the basics of finances courtesy of the Richard Myles Johnson Foundation's "Bite of Reality" program. SkyOne Federal Credit Union co-hosted the workshop at its headquarters in Hawthorne, CA, in collaboration with the California and Nevada Credit Union Leagues Beach Cities Chapter and Kinecta Federal Credit Union.
�
The April 12 event featuredvolunteers fromseveral local credit unions including American Airlines, Kinecta Federal Credit Union, Nix Financial, SchoolsFirst Federal Credit Union, SkyOne Federal Credit Union, South Bay Credit Union, Wescom Credit Union, and Xceed Financial Credit Union.
The Bite of Reality workshop provides teens an opportunity to take a real-world test drive through making important financial decisions they will inevitably face as adults.�
Participants were assigned a fictional occupation, salary, spouse and family, student loan debt, credit card debt and medical insurance payments. They then visited various table-top stations to "purchase" housing, transportation, food, clothing, household necessities, day care, and other needs. In addition, there was a "credit union" to help with facing debt, savings and other financial services. They also faced some unexpected expenses and windfalls.�
"The kidshad a blast," said�SkyOne CEO Eileen Rivera. "I took my daughters along with several other teens to our Bite of Reality event.Each one said that by the end of the day, theyhad gained a better appreciation of what their parents go through when it comes to managing money. And theyeven had fun doing it!"
The Bite of Reality program was created by the�Richard Myles Johnson� Foundation, which supports financial education efforts of credit unions in California and Nevada, with a special focus on youth.To learn more, watch the�Bite of Reality video�or go towww.rmjfoundation.org.�
awthorne, CA Some 30 teenage children of employees from various Los Angeles area credit unions recently learned the basics of finances courtesy of the Richard Myles Johnson Foundation's "Bite of Reality" program. SkyOne Federal Credit Union co-hosted the workshop at its headquarters in Hawthorne, CA, in collaboration with the California and Nevada Credit Union Leagues Beach Cities Chapter and Kinecta Federal Credit Union.�
The April 12 event featuredvolunteers fromseveral local credit unions including American Airlines, Kinecta Federal Credit Union, Nix Financial, SchoolsFirst Federal Credit Union, SkyOne Federal Credit Union, South Bay Credit Union, Wescom Credit Union, and Xceed Financial Credit Union.
The Bite of Reality workshop provides teens an opportunity to take a real-world test drive through making important financial decisions they will inevitably face as adults.�
Participants were assigned a fictional occupation, salary, spouse and family, student loan debt, credit card debt and medical insurance payments. They then visited various table-top stations to "purchase" housing, transportation, food, clothing, household necessities, day care, and other needs. In addition, there was a "credit union" to help with facing debt, savings and other financial services. They also faced some unexpected expenses and windfalls.�
"The kidshad a blast," said�SkyOne CEO Eileen Rivera. "I took my daughters along with several other teens to our Bite of Reality event.Each one said that by the end of the day, theyhad gained a better appreciation of what their parents go through when it comes to managing money. And theyeven had fun doing it!"
The Bite of Reality program was created by the�Richard Myles Johnson� Foundation, which supports financial education efforts of credit unions in California and Nevada, with a special focus on youth.To learn more, watch the�Bite of Reality video�or go towww.rmjfoundation.org.�