Credit Union Volunteers to Teach Students About Personal Finance

As a kickoff to national Financial Literacy Month, which showcases to school children the importance of being financially literate in todays society, Mutual Security Credit Union had five staff members and its chief executive in classrooms at Wooster and Flood middle schools on April 1 teaching the students some basics about personal finance. At Flood MSCUs Kevin Dolan took over Ms. Deborah McNeills seventh grade class and engaged the students in discussions about different jobs and different levels of pay, keeping earned money secure, taxes withheld from a paycheck, and the difference between needs and wants. Dolan explained four ways of handling personal money: Save, spend, give as to charity, and grow as with interest. He emphasized also the importance of reading the details of contracts or financial agreements saying to the students, "Life is about the fine print." CEO Larry Holderman sat in on Dolans class and told The Star that community involvement and working with students is very important to his firm. He said MSCU also has a program with Chapel Street Elementary School where the students display their artwork at the credit union branch.