Credit Union Adopt-A-Classroom Program is a Success for Financial Literacy

Mrs. Schneiders 5^th grade class at Terry Redlin Elementary School in Sioux Falls, SD has been learning some valuable lessons thanks to a grant from Sioux Falls Federal Credit Unions (SD)�Adopt-A-Classroom program.� Seven $500 grants were awarded last fall to local teachers who created innovative financial literacy programs to incorporate into their regular curriculum.� Throughout the year, Sioux Falls FCUs marketing department has stopped by to check in on how the projects are going, and received quite a treat on March 25^th. The program that Mrs. Schneider created for her class is quite impressive. Throughout the year her students have "earned" money by completing their weekly reading assignments, submitting work for extra credit, or by working for the Safety Patrol.� Their earnings are then deposited into their checking accounts, which each student is responsible for balancing.� Each month, rent is due, and a check must be made out to Mrs. Schneider, and then the students have the opportunity to go shopping in their classroom store.� A special emphasis was put on wants versus needs, and how to find a balance between the two. Mrs. Schneider used the grant money to purchase goods such as backpacks, flavored bottled water, pencils, stickers, markers, candy, books and other fun items for the students to buy.� Not only have the students learned how to earn and budget money, but they learned the importance of helping others less fortunate. The students were offered the opportunity to donate some of their earnings to a local charity.� Mrs. Schneider was so impressed with her students generosity, that she matched their donations out of the grant money. Gretchen Miller, Marketing Specialist for Sioux Falls Federal Credit Union, was impressed with the 5^th graders decision making skills.� "It was quite amazing watching each student carefully balance their checkbook before shopping to ensure they had enough money for the purchase and for next months rent," said Miller.� "They are truly learning some important life lessons." After the shopping was complete, Mrs. Schneider showed a video that her class made thanking the credit union.� The video showed how the students earn money, how they balance their checkbooks, and interviews about what they have learned during the process.� In an interview, one student learned a particularly hard lesson.� She had not completed her reading assignments for a couple of weeks, and spent most of her money in the school store. When rent came due, she didnt have enough, and was evicted from her desk for a portion of the day.� �In the interview, the student said, "I learned that I have to plan for things before I buy them. That way I will have enough money for rent." Mrs. Schneider feels that financial literacy is a skill that children need to learn early, "Some students, unfortunately, dont learn these skills from their parents, because their parents might not be financially responsible themselves, and are living paycheck to paycheck. Im glad that I have the opportunity to help them learn these important lessons, and am thankful to the credit union for this generous grant."