Credit union teaches money management to teens

Palisades Federal Credit Union, the largest Rockland County based Credit Union, partnered with the Cornell Cooperative Extension to educate local high school students participating in the Teen Employment Education Network (T.E.E.N. Work) on the principles of banking.

Teen Employment Education Network (T.E.E.N. Work) is a program funded by the County of Rockland, Department of Social Services and Tomorrows Workplace. The 16-week program offers training and experiential activities to teens and young adults between the ages of 14 and 21 to strengthen their ability to become self-sufficient and responsible. The program is designed to provide eligible youth with a meaningful experience in the workforce and may also provide paid job placement pending successful assessments of the participant. "Educating the teens and encouraging them to make smart financial decision early on in life can have a huge impact on their future," said Lizzette�Ruiz, Financial Literacy Educator for Cornell Cooperative Extension of Rockland. "Participants will soon receive their first�stipend and we want�to encourage them�to save and better manage their money." In addition to providing the students with the necessary cost effective tools to manage their money, Palisades Federal Credit Union was also able to provide the students with a financial institutions perspective on managing bank accounts and credit scores. "From learning to manage a paycheck to understanding credit to saving money to pay for college or other long term goals, the need for financial education amongst our youth is stronger than ever," explained Anthony Pili, VP of Sales & Marketing at Palisades Federal Credit Union. "We were pleased with the engagement of the students and hope that they will continue to benefit from the money-management techniques discussed today."