JACKSONVILLE, Fla. — The $1.1 billion Community First Credit Union of Florida has rolled out a prepaid card to supplement its financial educational efforts and to allow families to begin giving their teen-aged children greater financial responsibilities.
The Community First reloadable card allows parents to easily load money onto the card, giving students immediate access to funds. The card can also be used as an ATM card and provides parents the opportunity to monitor every transaction.
"Both parents and students can view how money on the card is being spent," said John Hirabayashi, president/CEO of Community First Credit Union of Florida. "This is a helpful tool to teach financial responsibility as college students transition into adulthood."
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Students are able to enjoy becoming financially independent as they are introduced to important money-management strategies. The student card provides a controlled way for users to budget and adjust to credit and debit cards.
"As a credit union with roots in education, we know how important it is to promote financial literacy among the next generation," Hirabayashi said. "This card is a great tool to help us do just that."
The card supports a financial educational partnership between Community First and the National Endowment for Financial Education, Duval County Extension Service, and several other Jacksonville credit unions to bring the High School Financial Planning Program to local students, Community First explained.
"The program is so valuable because it brings financial education to students in ways that they can use," Community First Credit Union of Florida CEO John Hirabayashi said. "As a credit union with roots in education, we are proud to be able to contribute to this program."
NEFE, a national non-profit organization promoting financial literacy, designed the program.
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