Financial literacy subject of high school session

    With the month of April again being proclaimed by Governor Baldacci as Financial Literacy for Youth Month, credit unions in Aroostook County are getting a head start on educational opportunities by presenting the first-ever Financial Fitness Money Management Experience Event held in Aroostook County today from 9 a.m. until 1 p.m., at the Loring Job Corps located on the Loring Commerce Center in Limestone.     Nearly 350 high school students are expected to participate.
    Created by Maine’s credit unions in 2004, this will be the ninth such fair held in Maine and the first time the fair has been organized in Aroostook County.
    The following high schools are planning to participate: Ashland, Caribou, Central Aroostook, Easton, Fort Fairfield, Fort Kent, Limestone, Loring Job Corps, Madawaska, Presque Isle, Van Buren, Washburn and Wisdom.
    The Financial Fitness Money Management Experience was created to address the growing need for increased financial literacy in Maine schools and the lack of understanding that many teens experience with regard to their personal finances. The half-day event is unique because it allows students to consider a serious issue in a fun way.
    Students are asked to participate in an interactive ‘game of life,’ in which they must map out what their financial future would be at the age of 22, according to a scenario packet that they receive, which determines their occupation, income and credit history. Students then have the task of creating a ‘Spending Plan’ according to their income and expenses.
    “Recent statistics confirm that today’s American children, teens and young adults are spending money at a rate that is more than four times the rate at which they are saving money each year. Financial Literacy is so important, especially at this time of year, when some students are nearing graduation and getting ready to get out into the ‘real world,’” said Jon Paradise, Governmental and Public Affairs Manager for the Maine Credit Union League and Master of Ceremonies for the day.
    “Maine’s credit unions are proud to be part of the educational process and are pleased to be part of the Aroostook County Chapter of Credit Unions’ first-time presentation of this program. It has proven to be very popular with students. Our goal is not only to educate participants of the Financial Fitness Money Management Experience, but also make it enjoyable for them to learn.
    In addition to support from the Aroostook Chapter of Credit Unions, the following credit unions are contributing time and money for the event: Acadia Federal Credit Union, NorState Federal Credit Union, St. Agatha Federal Credit Union and The County Federal Credit Union. For more information about the Financial Fitness Fairs, visit www.mainecul.org.