Cardinal Credit Union hosting annual Mad City Scholarship competition, $50,000 in scholarship money
Students take on the role of adults in futuristic Mad City and are given jobs, income, a family and debt
MENTOR, OHIO (March 5, 2024) — The Cardinal Credit Union, a member-owned, not-for-profit financial cooperative serving the community through high-performance banking products and services, is once again co-hosting its annual Mad City Money Scholarship competition from March 12 to April 17 across five area high schools, including Notre Dame-Cathedral Latin School, Lake Catholic High School, Eastlake North High School, Mentor High School, and Willoughby South High School. Participating student teams have an opportunity to win up to $10,000 in scholarship money per school for a total of $50,000 across all five schools.
Mad City Money challenges high school seniors with the financial responsibilities of adulthood. During the 90-minute live, in-person competition, teams of students will visit on-site merchants to purchase housing, transportation, food, clothing, day care and other wants and needs, all while building a budget.
Winners are chosen based on their ability to achieve an average balance of $100 as a team and turning in their competition packages within the allotted time frame. A select number of Cardinal employees review and score the packets based on math and budgeting skills to determine the winners. First place winners will be awarded a grand prize of up to $1,500 for each team member, second place winners will receive $1,000 each and third place winners will qualify for $800 each.
“Preparing students for the real world is an important part of the educational process,” said Joe Glavan, Director of Workforce Development, Mentor Public Schools. “At Mentor Schools, we love the way we can engage students in this fun exercise where they can learn a great deal about money management before they reach adulthood. Learning to manage money is a critical skill set and one that Mentor Schools believes is essential to preparing our students for their next step in life. We can’t thank Cardinal enough for their commitment to the community and providing just the right level of educational assistance to our students.”
The competition will take place at each area high school over a one-month period, as follows:
- Notre Dame-Cathedral Latin School at 1 pm on March 12
- Lake Catholic High School at 9:30 am on March 15
- Eastlake North High School at 10:30 am on April 4
- Mentor High School at 9 am on April 11
- Willoughby South High School at 10:15 am on April 17
“Cardinal Credit Union is thrilled to partner with area high schools for the fourteenth year in a row as part of our financial education initiatives in Northeastern Ohio,” said Christine Blake, CEO, Cardinal Credit Union. “The Mad City Money Scholarship games are yet another example of how we are meeting our mission to provide financial benefits to the community in a fun, energetic and educational manner.”
Students wishing to compete for cash and other prizes can sign up here:
Cardinal offers integrated financial education programs to five area high schools and Lakeland Community College, where Cardinal operates several in-school branches. It is here that students have a chance to learn more about positive money management through a hands-on approach to finances.
About Cardinal Credit Union
Headquartered in Mentor, Ohio, Cardinal Credit Union is a 71-year-old fiercely independent, member-owned not-for-profit financial cooperative that offers a broad range of banking products and services that people need and use every day – including checking accounts, CDs, credit cards, auto loans, debt-consolidation loans, mortgages and more. As a not-for-profit financial institution, any profits earned by the credit union are returned to its members in the form of fewer fees, lower loan rates, and higher savings interest. Everyone is welcome, and membership is instant. Banking can be done online, via Cardinal’s app, or by stopping in at one of its seven branches. For more information, visit the website at https://www.cardinalcu.com/.
