This April, eleven Northeast Ohio credit unions are teaming up to promote financial education to area high school students. Their flagship event, entitled “Mad City Money,” is a scholarship competition held at Lakeland Community College, where over 300 students from sixty area schools will compete in a family budgeting game to earn a $3,000 college scholarship.
The event is scheduled for April 18, 2015.
The competition provides a platform for high school juniors and seniors to show off their budgeting prowess. Mad City Money is designed to challenge students to manage a realistic family budget, including student loan debt, credit card debt, medical insurance payments, clothing, transportation, and childcare – to name a few.
“The program allows students to make mistakes and suffer the consequences of their decisions in a realistic but safe environment,” said Lisa Briggs, CEO of Geauga Credit Union. “The stakes are especially high, because students are competing for real scholarship money.”
“It’s an opportunity for students with all levels of financial experience to work through some thought-provoking budgeting problems,” added Christine Blake, President and CEO of Cardinal Credit Union. “Over the past few years, we have taught hundreds of students the value of budgeting and fiscal responsibility through the Mad City Money program. But, thanks to our strategic alliance with neighboring credit unions throughout Northeast Ohio, we will be poised to build even more high-profile awareness about the vital role that credit unions can play in people’s lives.”
The credit unions are seeking to recruit 50 teams of six students each (high school juniors and seniors only). All participants who are present on event day will receive a ticket to Cedar Point.
Students may learn more by emailing lisa@geaugacreditunion.com.
The event will be made possible through the collaborative efforts of the eleven partnering credit unions, and will be subsidized by a generous grant from the Ohio Credit Union Foundation.
Credit unions are member-owned, not-for-profit financial cooperatives that provide savings, credit and other financial services to their members.
The following credit unions are the official sponsors of this event:
Geauga Credit Union, Cardinal Community Credit Union, LEO Credit Union, Eaton Family Credit Union, LCE Federal Credit Union, WES Credit Union, Lake County Educational Credit Union, Taleris Credit Union, Unity Catholic Credit Union, ACME Federal Credit Union and Painesville Credit Union.
This story is brought to you Geauga Credit Union
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