NYCUF Awarded Educational Grant

ALBANY, N.Y. – The National Council on Economic Education (NCEE) has presented the New York Credit Union Foundation a $9,978 grant. The grant will support the classroom component of a youth financial education project, Kid’s Cash Kit & Caboodle, which the NYCUF is piloting with seven credit unions across the state. Designed to teach consumer responsibility, personal finance and basic economics to students ages five to 12, the program introduces kids to three key money management concepts: save, spend and share. The Kids Cash Kit includes a plastic tote bag; introductory letter and entry form; customized “pop-up” three compartment money boxes for saving, spending and sharing; financial terms glossary, resource list and budgeting poster/chart; and one of three age-appropriate activity books-Save, Spend & Share, Best of Adventures in Saving and Rosa’s Birthday Party. In addition to distributing the kits, promotional materials and products provided by each participating credit union will be part of classroom presentations, and as the materials are discussed students will be provided help in assembling their money boxes. Partnering credit unions include GPO FCU, Hudson River Community CU, Lancaster-Depew FCU, Niagara County FCU, Syracuse Cooperative FCU, Teachers FCU, and Visions FCU. “We are proud that NCEE recognized the importance of this project in New York State,” said NYCUF Executive Director Diane LaVigna Wixted. “It’s our hope that by focusing on teaching our young children financial basics and helping them talk about money matters at an early age, that they will be more receptive and better prepared to learn more complicated financial issues as they get older.” The NYCUF plans to reach 1,500 students in the spring of 2006 and an estimated 5,000 children by the end of the year.