Grant Could Bring Teen Financial Literacy Program to Montana CUs
The Helena, Mont.-based nonprofit Student Assistance Foundation has applied for a grant that would bring Money Mission, an online financial literacy game in use at 30 credit unions in six states, to Montana’s credit unions, the Montana Credit Union Network announced.
The Wisconsin Credit Union League demonstrated Money Mission to credit union professionals at MCUN’s 2012 Fall Forum in Helena, and if the Student Assistance Foundation grant is approved, Montana’s 57 credit unions will have the opportunity to offer the program to Montana teens ages 15-19, MCUN said. CUNA and the Wisconsin Credit Union League partnered in 2010 to launch Money Mission.
Developed by Milwaukee, Wis.-based consulting and design firm La Macchia Group LLC and Brookfield, Wis.-based production company Video Wisconsin, Money Mission is accessible from participating credit unions’ websites and teaches users how to manage money throughout life and avoid unmanageable amounts of debt.
“Money Mission showcases the power of cooperation — students learn and can apply for scholarships, schools receive free teaching resources and credit unions build brand awareness,” said Tabitha Garvin, chief operating officer of business development for MCUN. “We hope that Montana credit unions will be using this great financial literacy tool in their communities in the future.”
Money Mission’s set-up fee for participating credit unions is $500, and the program carries a monthly maintenance fee of $300 per month for credit unions with assets of more than $50 million and $150 per month for credit unions with assets of less than $50 million.