Educators Credit Union recognized with Governor’s Financial Literacy Award for its Reality Check Day
MT. PLEASANT, WI (February 27, 2020) — On Wednesday, Feb. 19, the Governor’s Council on Financial Literacy recognized Educators Credit Union with the 2019 Governor’s Financial Literacy Award.
The honor recognizes Educators Credit Union’s Reality Check Day program. Reality Check Day simulates managing a monthly budget as an adult in the real world. Students use Educators’ cutting-edge app to select a career and are assigned a salary based on local income statistics. They are then randomly assigned a spouse, children and a credit score.
Once they have a career, students must manage their budget for a “month.” They visit tables during the simulation that represent utilities, specialty stores and services. While shopping, students can pick from modest options like a very used, but affordable car, or a luxury sports vehicle. After the session’s done, students check out and need to show that they don’t have a negative balance.
“We know Reality Check Day is an important experience,” said Educators’ Director of Community Engagement Victor Frasher. “Educators can visit local schools and prepare students for life after graduation. Hopefully, the students will understand that budgeting isn’t easy and will learn to create a plan so that they can pay for everything they’ll need.”
In 2019, Educators Credit Union brought Reality Check Day to over 3,000 students across its 11- county service area. It is designed for mostly high schools to use, but has been utilized at the middle school and collegiate levels. Some schools have made the program an essential part of their curriculum. The Racine Unified School District requires all Juniors to go through Reality Check Day.
The 2019 Governor’s Financial Literacy Award is Educators Credit Union’s second in three years. The Governor’s Council on Financial Literacy also awarded the credit union for its work with EVERFI in 2017.
About Educators Credit Union
Educators Credit Union is a not-for-profit financial institution committed to helping people make informed financial decisions through educating and advising. We are dedicated to consistently building relationships, providing affordable financial products, and helping those we serve achieve their financial goals. Educators is open to anyone who lives or works in southeastern Wisconsin. For more information, visit ecu.com.