The Credit Union Foundation of Maryland and DC plans to expand its Millionaire’s Club financial literacy effort into four more high schools this year.
The Millionaire’s Club program involves paid teaching staff leading a detailed monthly curriculum for after-school programs that focuses on financial literacy and educational and career choices in a club atmosphere with competitions and entrepreneurial activities.
A local credit union pairs with each club to serve as the club’s financial institution and help with mentoring and curriculum development.
The program was piloted in 2010 and expanded into four Maryland high schools last year with the help of a National Credit Union Foundation grant. The Credit Union Foundation of Maryland and DC said it now is looking for seed funding to add more clubs throughout its service area.
"The Millionaire's Club concept is growing faster than we had expected," said the foundation’s executive director, Kyle Swisher. “As schools launch their new clubs, word has been spreading within administrative and faculty groups creating demand from within school districts.”
The foundation noted that members of the Educational Systems FCU-sponsored Millionaire’s Club at Frederick Douglass High School finish first in a regional stock market game and fourth place statewide from among 1,148 teams.
Meanwhile, four members of the SECU-sponsored Millionaire’s Club at Howard County’s Applications & Research Lab were recently recognized for their placement in the upper percentile of the Treasury Department’s National Financial Capability Challenge, competing with more than 80,000 students nationwide.