Would you be surprised to know that high school students want to learn how to manage money? In a recent poll, 78% of teens surveyed felt instruction in personal finance was the most important education they needed before graduation. Yet, in most U.S. high schools, financial literacy education is minimal – if provided at all.
SCE FCU and the nonprofit we founded, the Center for Financial Empowerment, are working to fill that gap for hundreds of teens every year. By partnering with high schools, teachers, and youth organizations, we’re teaching students money skills they can put into action with their very first paycheck. And SCE FCU members’ support of the CFE helps make it all possible.
In 2017, we facilitated 55 financial workshops and 7 Mad City Money simulation events, reaching a total of 2,613 young adults. We’re proud to have made such an impact on our communities! And while these numbers are impressive, the real success stories go far beyond the statistics.
Dante L., an 11th grader from Nevada, had this to say after the CFE taught a series of financial topics in his classroom: “The most important thing I learned was about saving money from each paycheck. And I have to spend in a smart way, so I can save up money at the same time. I would not have known to do that before.”
The CFE’s Mad City Money program teaches financial skills using “experiential learning” that can be more effective than typical financial literacy programs. According to Cynthia R., a teen participant from California, “I thought I had already learned how to deal with money, but not in this way. This was very different and interactive, it felt very real! I was surprised how easy it was to fall into debt and end up having to pay more. This event helped me understand simple things that can make a huge difference in my financial decisions.”
On behalf of the Credit Union and the CFE, we thank SCE FCU members for supporting the work we do to provide underserved youth with financial skills for life. Your donations make it possible to provide this important education free of charge to teens that need it most. Together with you, we’re helping to break the cycle of generational poverty.