This Student Run Credit Union is the “reel” deal!
Red Carpet Events will be held in three Rockford area schools. Rockford Community Federal Credit Union is making savings fun in schools through a movie and celebrity themed, fully functioning “reel” Student Run Credit Union.
Schools participating in programs are Belmont, Roguewood, and Our Lady of Consolation School. The schools recognize the need to teach students how to save for the future. In a partnership with Rockford Community Federal Credit Union the Student Run Credit Union was established. This program is now in its 6th year of operation.
“By partnering with the schools, it provides the students an opportunity and a first hand experience with money management and financial education. Students learn as employees and as members who make deposits and withdrawals. Good habits learned early are more likely to last a lifetime,” said Connie Taylor, CEO of Rockford Community Federal Credit Union.
These Credit Unions are now fully functional and run once a week for students to be able to make deposits, withdrawals and learn how to save money. The students get rewarded for good savings through games and prizes. As an added bonus, students in 5th grade have the opportunity to become an employee of the Student Run Credit Union.
Lisa Smith, the Educational Coordinator for Rockford Community Federal Credit Union, oversees the Student Run Credit Unions. She says, “in these tough economic times our goal with the all Student Run Credit Unions is to provide a “reel” life financial literacy-based program that teaches students about saving money, decision-making and critical thinking while they are young.” The Credit Union hopes that by having the Credit Union, students will be more responsible with their money management and finances in the future.
The Red Carpet was rolled out February 9, at Belmont Elementary, February 11 in Roguewood Elementary, and February 12 in Our Lady of Consolation School. These super star celebrations had snacks and Emmy pictures with celebrities for all student members.