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Arkansas CU Professionals to Get 'Financial Reality Check' April 7
Friday, April 4, 2014 6:50 AM

On April 7, some 72 credit union professionals from all across Arkansas will be attending a South Central Arkansas Chapter of Credit Unions reality fair event.  They will experience the CU 4 Reality Fair for themselves, so they in turn are more empowered to deploy the financial education fair in their local schools.

“We are so excited by how positively credit unions have responded to this event,” says South Central Arkansas Chapter President Tandie Kenser. “It really illustrates credit unions’ awareness of the financial literacy problem in the communities we serve. So many teens – even adults for that matter – don’t understand the most basic concepts about money.”

According to Kenser, several area school officials, as well as representatives from AR Workforce and Hot Springs Housing Authority (ROSS Program) will participate in the reality fair event.

“In our schools, students learn algebra, English, history, and other core courses. These classes are obviously very important for the development of their minds; however, I would argue that money management is also an essential skill that needs to be taught, and I believe credit unions are best suited for that task,” continued Kenser.

Kenser, manager of Garland County Educators FCU in Hot Springs, Ark., says the chapter was able to secure a grant from the Cornerstone Credit Union Foundation to provide program materials to credit unions that, after experiencing the fair for themselves, present the CU 4 Reality Fair (or the retirement fair) in their local schools and community.  

Financial reality fairs are designed to provide young people the opportunity to participate in a hands-on event that guides them through the personal financial management process, including budgeting, saving and investing in a simulated real-world environment. The Cornerstone Credit Union League is able to make the CU 4 Reality Fair available to credit unions and chapters because of support received from the Cornerstone Credit Union Foundation, the Friends of Consumer Freedom and the National Credit Union Foundation.

 

Helpful resources: Cornerstone’s REAL Solutions initiative, which stands for Relevant, Effective, Asset-building, Loyalty-producing solutions.