CFE Boone High School branch students capture top spot in LSCU financial fitness tournament
LAKE MARY, FL (June 27, 2016) — Quick. Do you know what occurs when interest on an adjustable rate mortgage exceeds the amount of a loan? Three students from CFE’s high school branch program know the answer and recently captured first place in the League of Southeastern Credit Unions and Affiliates’ (LSCU) Financial Fitness Tournament using that very same knowledge. The tournament was hosted by the LSCU Young Professional’s Group.
Boone High School students, Chloe Frye, Janysa Cabrera, and Lyle Waranch, bested 11 other teams from various locales in Florida and Alabama at the J.W. Marriott, Grand Lakes in Orlando, Florida on June 17. Opposing teams were organized into brackets and competed head to head with each other in a winner-take-all, Jeopardy-like quiz contest.
The Boone High School branch team’s tournament success underscores the value of real-world education environments like CFE’s high school branch program. CFE Director of High School Branches and Electronic Services, Megan Jackson, agrees, “We’re so very proud of our students from Boone – and every other team that participated in the tournament for that matter. Each team demonstrated knowledge of difficult financial concepts. That stands as a testament to the success of financial literacy efforts by credit unions in both Florida and Alabama.”
Students from the CFE high school branch program staff fully-operational credit union branches, while also learning important financial concepts relevant to daily life. Jackson added, “We’d like to think that CFE’s high school branch program gave our Boone students that little extra edge to secure the championship.” Since its inception in 2008, the CFE High School branch program has opened over 5,000 student accounts. Colonial High School (Orlando, Florida) is slated to join the CFE high school branch program in the 2016 – 2017 school year, marking the sixth CFE high school branch to open in Central Florida.
About CFE Federal Credit Union
Founded in 1937 by 23 educators, CFE Federal Credit Union serves more than 155,000 members. With more than $1.86 billion in total assets, CFE offers its members an array of financial products and services at 22 full-service branches, nine high school branches, and more than 40 ATMs. Anyone who lives, works, worships, volunteers, or attends school in Orange, Seminole, Osceola, and Lake Counties may become a member. Qualified businesses and other entities may join as well. CFE is the Official Financial Institution of the UCF Knights and owns the naming rights to the CFE Arena on the University of Central Florida campus. CFE is also the Preferred Credit Union for Seminole State College and the Preferred Credit Union for Valencia College. For more information, visit mycfe.com.