Memorial High School student named winner of inaugural ‘Project Teen Money’ scholarship program

MADISON, WI (June 25, 2014) — Since February, six students from La Follette and Memorial High Schools competed in the inaugural Project Teen Money Scholarship Challenge,  a unique and interactive way to learn the best ways to save, spend, give and borrow wisely and for the chance to earn a scholarship.

Since the program’s kick off, each of the challengers:

  • Worked one-on-one with Summit financial coaches
  • Completed two financial education modules from FoolProof, a free online financial education resource, on topics of their choice
  • Created three videos (Save, Spend, Give) they shared online with their peers who voted for their favorites

The six teens were celebrated at a reception at Summit’s Inspiration Branch in Fitchburg on May 27. Memorial High School student Sylvan Gu, the grand-prize winner, received a $2,500 scholarship based on his video’s creativity, accuracy of financial information presented and votes from his peers as well as Summit’s selection committee. The other five participants each received a $500 scholarship.

“The Project Teen Money Scholarship Challenge is more than another Summit scholarship. We developed this challenge to engage students in passion for financial education,” said Kim Sponem, CEO and president of Summit Credit Union. “Each of the students exceeded our expectations and shared what they learned with others. That’s how financial literacy grows. We are absolutely thrilled with the results.”

The other Project Teen Money Scholarship Challenge participants included:

·                     La Follette High School Students: Ian Alberts, Khaleah Monger and
Danni Espinosa

·                     Memorial High School Students: Renee Kar-Johnson and Jorden Radloff

Visit to learn more about Project Teen Money, each participant and their respective videos.

Summit Credit Union’s Project Teen Money Challenge is part of its financial education outreach through its two high school branches. It is an off-shoot of Summit’s successful Project Money reality-based financial challenge geared toward adults and families, which kicked off its sixth-annual competition on June 16.  For more information, visit:

About Summit Credit Union:

Established in 1935, Summit Credit Union is a member-owned financial cooperative open to anyone in Wisconsin.  Summit holds $2.0 billion in assets and has more than 136,000 members with a total of 29 locations throughout the Madison and Milwaukee areas.   For more information, visit or call (608) 243-5000 or (800) 236-5560.

More News