In an effort to teach children about the importance of saving for their future, Kachina Elementary School, a K-8 school in the Peoria Unified School District, launched the Money Masters 9 week elective class for 3rd, 4th and 5th graders. In partnership with Kachina Elementary School, Arizona Central Credit Union is proud to facilitate Andson, Inc.’s Piggy Bank Program.
Arizona Central Credit Union has created a student-friendly membership for this program to manage the banking piece of the program. The aim of the Piggy Bank program is to teach children good savings habits to ultimately develop the skills to make independent financial choices and manage their money effectively. Janet Moodie, Senior Vice President & Chief Operating Officer of Arizona Central Credit Union, said, “We wanted to do something different that would forever impact a child’s life. It’s rewarding when we interact with students every week and witness them setting goals and saving money. This partnership is having a positive effect on these students by developing life-long savings habits.” The lessons center on wants v. needs; setting goals; budgeting and planning.
Arizona Central Credit Union is the first financial institution in the State of Arizona to sponsor the Piggy Bank program and is committed to improving the financial literacy of the children at Kachina Elementary School. The curriculum, Andson Money is generated by Andson Inc., and based on common core standards in English Language Arts, Math, and Social Studies/Economics. Research from Center for Social Development at Washington University, in St. Louis has found that “Children with a college savings account are up to seven times more likely to attend college than those without an account.”
The curriculum also includes interactive lessons and in-class discussions to keep the subject fresh and engaging to students. The Credit Union employees volunteer their time to physically bring the credit union to the students at Kachina Elementary weekly. Students are then introduced to a ‘branch’ experience. Employees teach them how to fill out their deposit slips, and how to keep track of how much money they are saving in their deposit booklet. Todd Pearson, Arizona Central Credit Union President & Chief Executive Officer states, “Our commitment to financial education is a primary focus in our community involvement initiatives. We’re proud to bring this program to these students and look forward to making it available to every student at Kachina Elementary School.
Developing regular savings habits now will provide these students a solid foundation throughout their lives. And, we are excited about having these kids as members of Arizona Central Credit Union for a very long time.”