Summit Credit Union kicks off inaugural “Project Teen Money” scholarship program

MADISON, WI (February 25, 2014) — In an effort to further financial education, Summit Credit Union has developed ‘Project Teen Money,’ a scholarship program designed especially for high school students.

“Good financial advice at a young age makes a difference, and Project Teen Money provides an opportunity for student participants — as well as their respective high school communities — to learn how to achieve financial success in a fun and unique way,” said Kim Sponem, CEO and president of Summit Credit Union.

Six students, three from La Follette High School and three from James Madison Memorial High School, were selected to participate in the inaugural competition, which kicks off on Feb. 24.

Between February and May 2014, each of the participants will work one-on-one with a Summit financial coach to discuss their current goals, as well as strategies on saving, spending and giving. FoolProof, an online financial education tool, will also be a resource to the participants who will then take the tips and advice they learned about money to create videos to educate their peers.

Each month, the participants will be tasked with challenges on topics such as:  why it’s important to start saving now, how to make smart spending choices, and ways to give back to the community, all of which they must capture on video.  Their videos will be posted on Summit’s website at:, and their peers, teachers, family, as well as the community at large, will be able to vote for their favorite video.  In May, the student with the most points will be awarded a $2,500 scholarship prize.  All other participants will each receive a $500 scholarship.

The 2014 Project Teen Money participants include:

La Follette High School Students:

  • Ian A.a junior who runs track and field, plays drums in a band and, as a self-described computer guru, plans to work in computer sciences
  • Khaleah M.a senior who is her school’s senior class president, a member of the National Honors Society, and plans to become a registered nurse
  • Danni E.a sophomore who sings, plays piano and dreams of becoming a business administrator

Memorial High School Students:

  • Sylvan G.a senior who runs cross country, plays piano and plans to become a filmmaker or software engineer
  • Renee K-J.a junior who plays several musical instruments, tutors peers, and dreams of becoming a film director or criminal lawyer
  • Jorden R.a senior who loves sports and plans to become a physician’s assistant

Summit Credit Union’s Project Teen Money competition is an off-shoot of its successful Project Money reality-based financial challenge geared toward adults and families, which is kicking off its sixth-annual competition in May.  Applications for the 2014 Project Money competition are available now at  The application deadline is March 15, 2014.

About Summit Credit Union
Established in 1935, Summit Credit Union is a member-owned financial cooperative open to anyone in Wisconsin.  Summit holds $1.9 billion in assets and has more than 131,000 members with a total of 26 locations throughout the Madison and Milwaukee areas.   For more information, visit or call (608) 243-5000 or (800) 236-5560.

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