LIMESTONE — The gym is an exemplary place to get fit, and 450 students from throughout Aroostook County gathered in the Loring Job Corps Center gymnasium to develop their financial fitness muscles, coached by area credit unions employees.
Contributed photo
Loring Job Corps Medical Office student Jenel Walker perused the educational booths about the fifth annual Financial Fitness Fair at the Loring Job Corps Center, sponsored by the Aroostook Chapter of Credit Unions, Maine Credit Union League and the LJCC.
Organizers are saying that it was the largest Financial Fitness Money Management Experience event ever held in Maine, drawing youths from 18 community high schools for the half-day exercise.
Workshops included living their own hypothetical financial lives at the age of 22; each student received a scenario packet, which included their occupation, income and credit history. With that financial base, students were given the opportunity to map out their theoretical financial future from financing their homes to purchasing food and clothes.
NorState FCU Marketing Director Denise Cote explained that while students were budgeting their monthly income for housing, transportation, clothing, food, insurance, credit, fun stuff and other living expenses, several of them were taken by surprise with an announcement that participants needed to pay for major car repairs or that they’d lost their theoretical job and found another at much lower pay.
“Credit union volunteers advised the students on what cuts they must make in order to break even or to be able to save for a rainy day,” she said. “Students really get insight on what being on your own and paying your way really encompasses.”
Jon Paradise, governmental and public affairs manager for the Maine Credit Union League explained that the experience, similar to an interactive variation of the boardgame Life, is an effort to help students understand the importance of making smart financial decisions at any age.
“These students are preparing to enter the real world, be it through applying to college or joining the workforce. It is critical that they gain a strong understanding of money and how to spend and save — the interactive nature of this event allows them to do just that,” Paradis said, adding that the fitness fair is aimed to build awareness for youth education and highlighted the credit unions’ dedication to financial literacy in their communities.
Over $1,000 (of real money) was given away to lucky participants during the event as students’ names were drawn for gift cards or the opportunity to stand in a wind tunnel booth, trying to capture as many flying dollars as they could in 30 seconds.
Representatives from Adacia FCU, NorState FCU, St. Agatha FCU, The County FCU, the Maine Credit Union League and the Loring Job Corps Center helped to organize the financial fitness fair.
Participating schools included the Ashland Community School, Caribou High School, Central Aroostook High School, Easton High School, Fort Fairfield High School, Van Buren District Secondary School, Limestone Community School, Washburn District High School, Presque Isle High School, Madawaska High School, Fort Kent Community High School, Wisdom High School/SAD 33, Loring Job Corps Center, Greater Houlton Christian Academy, Houlton High School, Hodgdon High School, East Grand High School and the Carleton Project.
Additional information about credit unions can be obtained by visiting www.mainecul.org.
