BURNSVILLE, Minn. — US Federal Credit Union has teamed up with the Minneapolis Public Library, Lutheran Social Services and Faith in the City Personal Finance Center to help area students make smart financial decisions with MoneySmart$.
The MoneySmart$ program is designed to help teens learn practical life skills from the importance of saving money for emergencies to distinguishing risky versus responsible credit card practices. As part of the pilot program instructors engaged students by playing games tailored to the group of 12 teens' interests. In addition the last four sessions included an invitation to USFCU's Minneapolis branch to put their knowledge to the test through a fun question and answer session hosted by Branch Manager Nick Jaeger.
As a reward for their efforts and to give them a head start on the path to responsible money management, USFCU deposited $20 into each student's savings account.
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"These students impressed us all–they came prepared with questions that demonstrated what they learned from their classwork and we are looking forward to our next opportunity to help students through the MoneySmart$ Program," said Jaeger.
According to LSS Financial Counseling Program Manager Darryl Dahlheimer, given the success of the pilot, plans are underway to expand the model to classes at other Minneapolis public library branches.
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