LIMESTONE — The Aroostook Chapter of Credit Unions recently presented its annual Financial Fitness Money Management Experience at the Loring Job Corps Center in Limestone, and more than 450 students attended the event.
This is one of the 30 fairs that Maine’s credit unions are holding this school year and it is the state’s largest. Representatives from Acadia Federal Credit Union, NorState Federal Credit Union and The County Federal Credit Union, along with the Loring Job Corps Center and the Maine Credit Union League, helped to organize the event.
Participating schools included Ashland Community High School, Caribou High School, Central Aroostook High School, Cornerstone Christian Academy, Easton High School, Fort Fairfield High School, Greater Houlton Christian Academy, Houlton High School, Van Buren District Secondary School, Limestone Community School, Washburn District High School, Presque Isle High School, Madawaska High School, Fort Kent Community High School, Wisdom High School, Loring Job Corps and Hodgdon High School.
During the half-day event, students received a scenario packet of their life at age 22. The packet included their occupation, income and credit history. From there, students had to map out their financial future, from financing their housing to purchasing food and clothing. Young & Free Maine Spokester Mallory Lavoie, this year’s state credit union spokesperson for 18- to 25-year-olds, provided a perspective of what entering the “real world” after high school and college is really like.
Jon Paradise, Vice President of Governmental and Public Affairs for the Maine Credit Union League, said the experience is an effort to help students understand the importance of making smart financial decision at any age.
“These students are preparing to enter the real world, be it through applying to college or joining the workforce. In order to be successful, it is necessary to have strong understanding of money and how to spend and save,” he said. “The interactive nature of this event gives them a hands-on way to gain these important skills.”
Feedback from students was positive, if not eye-opening for many. One student from Houlton High School said, “I was eager to move out when I graduate even though I am going to college nearby. Now, I may reconsider and live at home, and save money while I go to school.”
Another student from Presque Isle High School added, “This fair really put things into perspective for me, and I’m going to be more careful about my finances because I learned that it can really affect me when I get older. I want a good credit score and, before today, I had no idea what a credit score even was.”
A student from Fort Kent Community High School explained, “This event gave me an appreciation for all of the financial challenges my parents go through in order to give my family as much as they can. It’s really challenging to make it in the world, but I feel like today gave me some ideas on how to get started on being financially successful.”
Since 2004, nearly 150 fairs have been organized by Maine’s credit unions and taken place across the state. To date, more than 25,000 high school students have participated.
