United Southeast FCU Helps Teach Students About Finances
December 17, 2019
BRISTOL, TN- United Southeast Federal Credit Union (USFCU) spent time educating Sullivan East High School students on Tuesday, November 26, using the Mad City Money interactive simulation.
“Teaching students financial stewardship and money management are essential to their long-term success,” said USFCU Vice President of Business Development Tiffany Goforth. “We work with several schools in the region to teach the basics of finance that are so important to all. At the simulation, students make critical financial decisions while staying within their mock budget.”
Students were given a mock identity, an occupation, salary, debt, and payments. Students then need to make decisions based on their needs and their budget. Decisions include housing, clothing, transportation, food, daycare, and other household necessities that students will encounter in real-life.
Brooke Samples teaches personal finance, accounting, and business management at Sullivan East High School. “Personal finance, which is now a required course in Tennessee, is the foundation course designed to inform students how choices directly influence occupational goals, future earning potential, and long-term financial well-being,” said Samples. “I am hoping students will see the real-life value in making and sticking with a budget for overall financial well-being.”
Earlier in the year, USFCU sponsored the Mad City Money simulation in Castlewood, Va. Each year USFCU partners with local schools to teach students through a variety of programs including Mad City Money and the Banzai program. The goal of these programs are to help students learn the importance of financial stewardship and planning.
“It is an honor to have USFCU come to the school to teach the students about real-life occupations, situations, and consequences of bad money management. I use the Banzai program when teaching the different types of financial institutions, checking and savings accounts, bank reconciliation, as well as budgeting. The Mad City Money Simulation gives students a realistic "hands-on" learning activity, which they enjoy participating. Having USFCU sponsor the program, and bring it into our school, makes it much easier and affordable for schools lacking the funds needed for transportation. It has also helped get the community involved in our students' education and lets them witness first-hand what is taught and the importance of course,” said Samples.
“We want to help give students the best opportunity to succeed,” said USFCU CEO Janice Jones. “That is why we take the time to visit schools and sponsor program in which students learn basic financial management principles. We hope students enjoy this simulation, have fun learning and, most importantly learn lessons that will help them in the future.”
ABOUT UNITED SOUTHEAST FEDERAL CREDIT UNION:
United Southeast Federal Credit Union was chartered in 1941 to serve employees of the Inter-Mountain Telephone Company. Over the years, the Credit Union has grown to serve the employees of several hundred companies in Tennessee and Virginia. In addition, many who live, work, worship, or attend school in Washington County, Tennessee, Sullivan County, Tennessee, Washington County, Virginia and Russell County, Virginia are now eligible for United Southeast Federal Credit Union membership. USFCU has six convenient locations. For additional information visit https://www.usfcu.org