Rockford Community Federal Credit Union (RCFCU) just finished their ninth year of facilitating student-run credit unions in the Rockford area schools. RCFCU would like to say thank you to all the volunteer Student Run Credit Union employees in the 2011-2012 school year. The 65 student employees helped their peers save $5,300 by processing over 700 transactions! Belmont Elementary, Assumption of the Blessed Virgin Mary and Our Lady of Consolation schools participated this year. RCFCU enjoys partnering with the local schools to help students be more dedicated to financial literacy. “I enjoy helping students understand more about the importance of saving and budgeting their money. They don’t always need to spend, spend, spend!” said Josh Fortuna, Student Run Credit Union facilitator. A program like the Student Run Credit Union allows students to be taught real life skills of financial banking in a safe and secure school environment.
Our Lady of Consolation School
Members of the Our Lady of Consolation (OLC) fourth-grade girls basketball team autograph the gym floor following their game against Saints Peter and Paul Ionia. The floor was removed the following day and replaced with new tile. OLC’s gym recently went through an extreme makeover with new paint, lights and floor, thanks to the school parents and parishioners who helped raise the funds for this project.
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.