Credit Union League of Connecticut – Improving the financial futures of the next generation through Biz Kid$
The Credit Union League of Connecticut (CULC) recognizes the importance of receiving financial education at a young age. Currently, the state of Connecticut does require personal finance courses for graduation, and credit unions across the state have been working on ways to fill that financial education gap.
The Credit Union League of Connecticut already has a robust Financial Reality Fair program, providing hands-on experiential learning to more than 4,000 students each year, almost 24,000 students since the program began in 2008. To increase the reach of their financial education initiatives, they decided to utilize the Biz Kid$ financial literacy program. The Emmy Award-winning, credit union branded financial literacy program is produced by the same people as Bill Nye the Science Guy. What Bill Nye did to teach kids about science, Biz Kid$ does to teach kids about managing their money.
Through a Biz Kid$ Financial Education Grant from the National Credit Union Foundation, the CULC was able to work with Seasons FCU to create an interactive financial empowerment after-school program for at risk 6th grade students who had no previous knowledge on financial concepts.
The after-school curriculum was focused on entrepreneurship and helping the students at Keigwin Middle School learn what it takes to open their own business. This involved showing episodes of Biz Kid$, and pairing with it with classroom activities and real-world local entrepreneurs.
Seasons FCU brought in local business owners to speak to the class about their businesses, and how they got to be their own entrepreneurs. This helped connect the Biz Kid$ lesson learned in the after-school program to real world success stories.
“Having prepared materials tied to each episode from the Biz Kid$ website allowed me to change coursework mid-discussion based on the students’ passions,” said Kristen Jensen, Member Solutions Manager at Seasons FCU. “It was so easy, as a facilitator, to focus on the specific strengths of the students because I was able to print supplemental materials at a moment’s notice.”
On top of the lessons learned in the curriculum, a branch manager from Seasons FCU came in to speak to the students about topics such as loans, credit cards, interest rates and more. This helped to pair the lessons they’ve learned with the options available for them at their local credit union. Not only were they helping provide valuable financial information to the students, but they were forming an important relationship between the students and the credit union.
At the end of the after-school program, students each created a formal, realistic business plan based on their own business idea that they then presented to the program directors. They were able to showcase the concepts they had learned from Biz Kid$, as well as get hands-on experience with creating a business plan for a potential future business.
“It was remarkable to watch the students grow as the program progressed,” said Jensen. “They were excited to come to class and have meaningful conversations about budgets, credit, and most importantly, positive life goals.”
The Foundation is currently fundraising to produce Season 6 of Biz Kid$ to reach even more students across the nation. You can help us improve the financial futures of the next generation through this influential financial literacy program. Visit ncuf.coop/bk6 for more information and how to donate or pledge your support.
