HUNTINGTON BEACH, CA (April 21, 2017) — In its effort to help educate young people about consumer credit and other financial literacy basics, Nuvision Credit Union has announced the 21 winners of its second Think.Tank.Challenge Essay Scholarship Contest. Each of the 11 schools received $500 from Nuvision for participating in the program.
The first-place winner, Chantel Hung, 18, a senior at Schurr High School, part of the Montebello Unified School District, garnered over 30,000 online votes for her essay. She will receive a $5,000 scholarship award from Nuvision. Schurr High School will receive a total of $4,000 – $2,500 for Chantel’s win, $500 for participating, and two additional $500 prizes for the runners-up from the school, including Chantel’s sister, Destinee Hung, 16, and John Garcia, 16. They each won scholarships of $1,000.
“Money is a tool,” Chantel wrote in her essay. “It is a means to an end. It has symbolized power, evil, greed, sin, prosperity, luck, status, and security. Money only gains such meanings through the management and use of its holders. I wish to use money as a means to afford knocking each and every activity off my bucket list.”
The credit union offered Southern California high schools in the vicinity of each of its 12 California branch locations free evening workshops for students and parents. A variety of professionals gave real-world advice on money management and achieving personal goals at the workshops. Guest speakers included two Northrop Grumman engineers, an executive from Boeing, and retired NFL player/Olympic gold medalist Ron Brown. Nuvision and its financial advisors explained that a graduating millennial will need roughly $2.5 million in order to retire comfortably. To do that, students learned strategies to help them avoid common financial pitfalls, develop a healthy attitude toward money, and understand credit, savings, and banking basics
“Some of my favorite suggestions (at the Nuvision workshop),” Chantel wrote, “include the use of budgeting apps, starting an emergency fund, and setting up automatic transfers to a savings account. In addition to helping me build wealth, these three actions help simplify my life.”
Attila Morgan, Nuvision’s Manager of Community Engagement and Public Relations, said the Think.Tank.Challenge Essay Scholarship Contest attracted 93 essay contest entrants and 11 participating schools, up from 39 submissions and four schools in 2016, its inaugural year.
“Our goal is to encourage financial literacy and generate a more savvy, responsible generation of financial services consumers,” noted Morgan. “It was clear from what they wrote that these students were soaking up the information at our workshops. We were impressed with the quality of the essays submitted.”
The 21 Think.Tank.Challenge 2017 winners and their prizes are:
First place, $5,000 prize: Chantel Hung, Schurr High School, Montebello Unified School District
Runners-up each receiving $1,000 prizes:
Tuan Do, Mater Dei High School, Santa Ana
John Garcia and Destinee Hung, Schurr High School
Emily Pelayo and Sydney Lara, Long Beach Polytechnic High School, Long Beach Unified School District
Dayanah Towner and Daisy Boeckmann, Carson High School, Los Angeles Unified School District
Jason Lee and Jennifer La, Oxford Academy, Anaheim Union High School District
Cloudia Msmeh, Savanna High School, Anaheim Union High School District
Honorable mention winners each receiving $250:
Mellisa Mulia, Schurr High School
Lizette Hernandez, Cabrillo High School, Long Beach Unified School District
Vanessa Martinez, April Ray, Swasti Catalan, Long Beach Polytechnic High School
Natalie Medina, Savanna High School
Kalis Collman, City Honors College Preparatory Academy, Inglewood Unified School District
Crystal Gutierrez, Lakewood High School, Long Beach Unified School District
Chelsea Huynh, Ernest McBride High School, Long Beach Unified School District
Kylie Gerger, Mater Dei High School
About NuVision Federal Credit Union
NuVision Federal Credit Union is a full-service financial institution with 13 branches located in Los Angeles and Orange Counties and Arizona and assets of over $1.3 billion. Headquartered in Huntington Beach, Calif., NuVision was founded in 1935 to serve employees of Douglas Aircraft Company. It continues to serve aerospace employees from Boeing, employees of Sempra Energy/The Gas Company, and employees of Tesoro with a total of more than 83,000 members primarily in Los Angeles and Orange Counties. For more information, visit www.NuVisionFederal.org.
7812 Edinger Avenue
Huntington Beach, CA 92647