Project Overview
Financial literacy among young people in our community was alarmingly low. A survey conducted by JC Credit Union in 2017 revealed that:
- 72% of local high school students could not explain how interest works.
- 65% had never opened a bank account.
- 81% received no formal financial education at school or home.
JC Credit Union recognized that this knowledge gap was perpetuating cycles of poverty and debt. Without early intervention, these young people would enter adulthood unprepared to manage money, build credit, or make informed financial decisions.
Project Description
The Youth Financial Literacy Initiative was a comprehensive, five-year education program targeting students from middle school through college. It combined classroom-based instruction, hands-on banking experience, family engagement, and community partnerships to build a culture of financial capability.
Key Components
- In-School Curriculum: Age-appropriate financial education modules delivered in partnership with 28 schools.
- Student-Run Credit Union Branches: Miniature credit union branches operated by students in 10 high schools, giving them real-world banking experience.
- Youth Savings Challenge: Annual competition encouraging students to open and regularly contribute to savings accounts.
- Scholarship Program: 50 annual scholarships of $2,000 each for students demonstrating financial responsibility and academic achievement.
- Family Financial Nights: Quarterly evening workshops where students and parents learned together about budgeting, credit, and saving for college.
- Digital Learning Platform: Gamified financial education app accessible to all students in the program.
Implementation Process
- Pilot Phase — Launched in 5 schools to test and refine curriculum.
- Curriculum Development — Worked with educators, financial professionals, and community advisors to create culturally relevant, age-appropriate materials.
- Teacher Training — Provided 120 teachers with professional development on financial education instruction.
- Technology Deployment — Distributed tablets preloaded with financial literacy apps to participating schools.
- Family Outreach — Conducted door-to-door outreach in underserved neighborhoods to engage parents.
- Monitoring and Evaluation — Partnered with a local university to track outcomes and measure impact.
