Press
Youth financial education a focus at Great Lakes Credit Union
BANNOCKBURN, IL (March 6, 2015) — 2014 was another record-breaking year in the classroom for staff at Great Lakes Credit Union (GLCU). In total, 3,704 students were educated on various aspects of personal finance through GLCU’s volunteer efforts. That number is up from 2,858 in 2013.
A signature program for the credit union in local high schools is Mad City Money. Mad City is a place where students journey into the future and are given an occupation, a salary, a spouse and family, and debt. Students travel among merchants using their debit card for purchase decisions they must make on a home, transportation, daycare, food, clothing, and even “fun stuff”. This real life experience teaches them valuable financial lessons about what the world as an adult has in store when it comes to keeping within a budget.
The Mad City Money program has been welcomed at high schools throughout the Chicagoland area including Antioch Community High School, Waubonsie Valley High School, Carmel Catholic High School, Chicago High School for the Arts, Lakes Community High School, Naperville North High School, Round Lake High School, and Batavia High School.
“The Mad City Money simulation was a great success for our students,” said Marcia Zboril, Family and Consumer Sciences teacher at Antioch Community High School. “GLCU staff really get into the role playing with the students and it helped “sell” the activity. Students were totally engaged!”
In addition to being in the classroom, GLCU offers additional resources for youth and parents on their website at glcu.org. For the Gen Y demographic, GLCU offers a program called On Your Way. On Your Way is an interactive website with compelling financial literacy education and knowledge and features an integrated social network. GLCU’s College Resource Center is also available online and is an educational blog providing tips and information on the cost of college, strategies for paying tuition, and understanding financial aid.
GLCU continues to be a catalyst for helping youth learn about money and personal finances.
Great Lakes Credit Union has 58,000 plus members and over $639 million in assets headquartered in Bannockburn, IL with branches in Antioch, Bolingbrook, Country Club Hills, Gurnee, Homewood, Naperville, North Chicago, Round Lake Beach, Waukegan, Willow Springs and Zion, Illinois.