Canvas helps youth get real about money
Local credit union hosts financial reality fair at Shiloh House
DENVER, CO (April 9, 2019) — Canvas Credit Union recently hosted a financial reality fair for the youth of Shiloh House in Centennial, CO. The interactive event brought student financial literacy to life with fun and innovation.
“A reality fair is a unique opportunity for students to experience some of the financial challenges they will face when they start life on their own,” said Malcolm Johnson, Director of Public Relations and Community Involvement at Canvas Credit Union.
During the fair, each student received a folder detailing their personal information; specifically, their career choice and monthly gross income. They then calculated their net pay, created a monthly spending plan and progressed through multiple stations where they were required to make choices, like buying a house or paying rent, and purchasing a car (with insurance) vs. taking public transportation. Students also paid a visit to the “Fickle Finger of Fate,” where they were faced with either, the burden of an unexpected expense, or the benefit of a financial windfall.
Afterwards, students met with Canvas Credit Union consultants to review their financial choices and to talk about some of the harsh realities of surviving and thriving in the real world. Students who exceeded their budgets were asked to revisit the experience stations and to make adjustments to their monthly expenses.
“The goal was for each student to be “under-budget” after calculating income and expenses,” said Johnson. “At the end of the day, students learned about what it takes to make ends meet from month-to-month, and to have a better appreciation for the importance of budgeting and planning. Unlike a class, this experiential session helped students experience the difference wise financial choices can make.”
Canvas Credit Union makes use of the Mad City MoneyTM Kit, created by the Credit Union National Association (CUNA), to provide this reality fair experience at no charge. This event is a true money management experience and can be tailored for students of all ages, from children to young adults. If you would like to learn more about Canvas Credit Union, or hosting your own financial reality fair, please contact Malcolm Johnson, Director of Public Relations and Community Involvement, at malcolmj@canvas.org or 303-639-2560.
About Canvas Credit Union
Canvas Credit Union is a safe and insured financial institution with over $4.5 billion in assets and more than 297,000 members. Canvas provides a full array of financial products and services, including savings, checking, loans, mortgages, and online and mobile banking options. Serving Colorado communities for more than 85 years, Canvas currently has 35 branches and is well recognized for its people, its heart, and its commitment to community.
Credit Union National Association is the most influential financial services trade association and the only national association that advocates on behalf of all of America’s credit unions. CUNA, along with its network of affiliated state credit union leagues, delivers unwavering advocacy, continuous professional growth and operational confidence to protect the best interests of all credit unions. For more information about CUNA, visit cuna.org.
