Millersville University students receive finance management, personal budgeting simulation at Financial Reality Fair
HARRISBURG, PA (November 2, 2017) — A total of 110 Millersville University students participated in a hands-on financial management and personal budgeting experience during a Financial Reality Fair yesterday. Sponsored by PSECU, the largest Pennsylvania-based credit union, the free financial education event was held at the campus in conjunction with the university.
“This was the sixth Financial Reality Fair that PSECU has coordinated on college campuses throughout the commonwealth, but the first such event organized with an institution in Pennsylvania’s State System of Higher Education (PASSHE). I’m pleased to announce the enthusiastic reception this fair – and its predecessors – have been given by students and campus communities,” said PSECU President Greg Smith. “We opened our Financial Education Center at Millersville University in 2001, and have found the university to be an excellent and dedicated partner in our efforts to provide high quality, useful financial education and skill building to students. Today’s event is another example of their continued collaboration and support.”
With the help of 35 volunteers from PSECU and Millersville University, the Financial Reality Fair was designed to be a highly interactive experience for student participants. Students received a budgeting worksheet with salary information based on intended career and level of education. Students then visited a series of booths to learn about and make choices pertaining to living expenses, from entertainment to insurance. To end the activity with a balanced budget, students were encouraged to revisit each booth as many times as needed.
“We’ve learned through conversations with higher education administrators and Pennsylvania employers that students and those newly entering the workforce often lack the basic financial understanding they need to maximize their full potential,” said Barb Bowker, PSECU Vice President of Marketing and Membership Development. “By sponsoring events like this Financial Reality Fair, in addition to our ongoing financial education efforts for people of all ages, we hope to help impart the knowledge students need for financial success.”
83 of the participating students submitted completed surveys about their Financial Reality Fair experience. They were asked questions about skills they acquired, thoroughness and clarity of information provided, and likelihood of event recommendation to peers. The survey results were overwhelmingly positive with each question receiving an average score of 4.7 out of a maximum score of 5.
When registering for the Millersville University Financial Reality Fair, each student was also provided with a giveaway toolkit of resources and financial education materials to help them as they continue working toward financial success.
Millersville students visit the financial counseling booth to get help balancing their budgets.
Opened in 1934, PSECU was founded by 22 ordinary people who made an extraordinary commitment to each other: To create a financial institution where pooled resources benefit all members. Today, we are a full-service credit union serving more than 450,000 members and have over $5 billion in assets. As a not-for-profit financial institution, our goal remains to help our members and their families achieve a better life. For more information about PSECU, visit psecu.com. View our Community Report Card to learn how we contribute to the greater good.