Credit Union Times - Centennial Edition - (Page I11) CeLeBrAtiNg 100 YeArS , SPeCiAL CeNteNNiAL editioN South Florida CU Connects With gen Y through education tional Program in that state. By linDseY sieGriest South Florida Educational also has recently launched CU Times Staff Reporter MIAMI — Growth and expanding reach are two of a financial literacy pilot initiative in partnership with the major issues concerning today’s credit unions and State Farm Companies Foundation. The program is much of that focus is on how to relate to younger called Financially Free and nudges students into action by forming a group of student ambassadors who develop Americans. South Florida Educational Credit Union has a found their own financial literacy program and teach their fela way to connect with Generation Y through education. low students. South Florida Educational worked with schools and The $652 million credit union serves the Miami-Dade County School District and Miami Dade College. Last teachers actively involved in the Got Green? program to year, the credit union launched a financial literacy ini- find outstanding students to participate in the program. tiative to get into its member schools to educate stu- Teachers from 10 schools each recommended five senior dents to make good financial choices. The program students that had already been through the Got Green? program and were taking included hiring a full-time staffer advanced economic and finance Claudia Vallin of Coral Reef Senior High, dedicated to generating educationStephannye Cruzatt of John A. Ferguson Senior classes. al programs in just the high High and Soley Gonzalez, community relations Three of the students who specialist at South Florida Educational FCU during schools. also interned with the credit the Financially Free press conference. “We started slow with a goal of union over the summer were going into five schools a year, but chosen to be executive ambas- contest or battle of the schools competition for the stuthrough word of mouth the prodents to promote the programs they created. sadors to help lead the group. gram just snowballed and last To accompany their financial literacy efforts, the Recently the students held a year we went into a total of 18 press conference at one of the par- credit union re-packaged its products to create products schools,” said Steve Webb, vice ticipating high schools that was that are student and youth oriented. president of marketing at “When we first launched the financial literacy initiacovered by student journalists. 56,000-member South Florida “The student journalists tive our first and foremost goal was to get into schools Educational CU. took their own photos, held and educate. Now that we’re in our second year of the Due to the success of the prointerviews and gave the project program we’re trying to get the students to join the gram, Webb hired another fullcoverage in their school papers, credit union as well. As a credit union we offer and reptime staff member, Loren Llanes, which is really important to resent all the positive things we’ve been preaching to to work solely on the financial litspreading the message,” Webb the student,” Webb said. eracy initiative. Llanes was origiSouth Florida Educational offers students its basic savsaid. nally hired to focus on bringing Yiseth Hernandez, a student reporter The students went through ings account, which requires $5 to open. The student checkthe program to the college level, from John A. Ferguson Senior High their first training period on ing account is free and has no monthly minimum balance, but since the high school program School, interviews Steve Webb, vice has become so popular she has had president of marketing at South Florida Nov. 14 at the credit union. no monthly service fees, no per check writing fees, free Once a month the students are online banking and bill pay, free Publix ATM withdrawals, to focus some of her time on that Educational Federal Credit Union. bused to the credit union’s main free online banking and bill pay and free bank-by-phone. as well. Once a student has a checking account, they are elioffice for training. Credit union Already this school year, South Florida Educational has been in 22 schools. The program–called Got Green?– employees will go over the Got Green? program basics gible for a Visa debit card. The credit union also offers is available to all Miami-Dade County public high schools and drill the students to make sure they know all the student Visa credit cards, which the credit union puts a and is a three-part workshop that teaches the importance information. Prior to being accepted into the program, limit on based on how much money eligible students the students completed a test to show their financial (based on their activity with the savings and checking of good credit, budgeting, saving and investing. South Florida Educational forms partnerships with knowledge. The employees will conduct training ses- accounts) have in their savings accounts. Being an educational credit union, the credit union high schools and goes into their classrooms to make sions based upon the test results. The students will also use the training periods to also offers Stafford and Parent Plus student loans as presentations to the students. Llanes said that they make the presentations based on the teacher’s need so brainstorm ideas for their financial literacy programs well as a scholarship program. Each year the credit that the teacher can incorporate the presentation into and present them to the credit union employees. At the union grants 15 graduating seniors full Florida paid end of the training, the students will also take a post- tuition. The credit union also extended the program for classroom work. The investing portion of the Got Green? program was test that they must pass to be able to continue with the graduate school. On its Web site, the credit union has a special section Financially Free program. added based on student feedback, Webb said. The students get community service hours and the for the products it offers to students, www.sfefcu.org/ “We added investing because a lot of students were asking questions about it. Kids want to play the stock opportunity to build their resume and earn letters of studentservices.html. Across the bottom of the section South Florida Educational purchased CUNA-sponsored market before they have a savings account, but we want recommendation from the credit union for college. In April, when the Financially Free program ends, links to financial education sites for all ages. them to know the basics first,” the CU marketing vice —lsiegriest@cutimes.com Llanes said the credit union will also hold some sort of president said. To culminate the end of last year’s Got Green? initiative the credit union held an all-day Financial Literacy Boot Camp at the University of Miami. The event was in partnership with Financial 51, a three-month financial literacy initiative that includes sports figures as role models. Financial 51 co-founder Jonathan Vilma of the New Orleans Saints and Vernand Morency, former Green Bay Packers running back, led a panel discussion talking to the students about financial literacy. They then split the auditorium in half and each captained a team of students in an exercise called Financial Football. Employees from South Florida Educational also spoke at the event on financial topics that weren’t covered during the Got Green? program. The credit union ended the event with a surprise concert by a local Def Jam rap singer. Students received a gift bag and participated in raffles for autographed footballs and an iPod. “This is just another step to getting out into the schools. We’ll do the event again at the end of this year,” Webb said. Visiting the program recently was Tim Mahone, Tim Mahone (Wisconsin Governor’s Southeast Office director), Stephannye Cruzatt, Shaquilla Williams, director of the Wisconsin governor’s southeast office, Jessyca Bellinger, Joane Pascal, Denise Moss, and Vernand Morency (former Green Bay Packers running which wants to implement the South Florida Educa- back) at the Financial Literacy Boot Camp. www.cutimes.com Credit Union Times, December 2008 http://www.sfefcu.org/studentservices.html http://www.sfefcu.org/studentservices.html http://www.cutimes.com
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