1st Financial Federal Credit Union (Wentzville) partnered with the Missouri Credit Union Charitable Foundation (MCUCF), Missouri Council on Economic Education (MCEE) and Holt High School (Wentzville) to present a two-day, financial reality fair titled "Mad City Money." This event was held on November 18-19.
As part of an initiative to increase financial literacy among youth in the state of Missouri and funded by MCUCF, the Mad City Money program gives each student a different life scenario. They have to create budgets based on the specific circumstances they are given and try to plan a life for themselves without going over budget. One significant aspect of the reality fair is the involvement of local businesses, such as 1st Financial. Volunteers sell students imaginary material goods and services, such as cars and furniture. Additionally, they help teens think about the consequences of their purchases.
“Over two days, MCEE and 1st Financial Federal Credit Union provided personal finance and hands-on learning for 150 high school students," says Michael English, MCEE president & CEO. "At the end of the day, the high school students had acquired a realistic sense of the expenses and responsibilities of an adult.”
Mad City Money gives students a chance to connect what they are learning in the classroom to what they will be facing once they get into the real world.
“Students at Holt High School were incredibly engaged in the Mad City Money simulation, thanks in large part to the enthusiastic volunteers from 1st Financial,” continues English.
1st Financial exists with a vision of helping people achieve their financial dreams and believes financial education is the foundation of making that vision a reality for the communities they serve. By supporting organizations like MCEE and Holt High School, resources become available to young consumers on a level they can understand before entering adulthood, creating a higher likelihood for success.
Caption (from left): 1st Financial staffers, Renee Markert, Sales manager, and Nancy Tate, Financial Service rep, volunteer at the reality fair held at Holt High School.