MADISON, Wis. (4/15/14)--Money Smart Week ended Saturday, and credit unions are tallying up the experiences they provided to their members and communities.
Gov. Rick Snyder reads "The Berenstain Bears' Trouble with Money" at the Detroit Public Library Campbell branch. (Michigan Credit Union League photo)
In Detroit, Michigan Gov. Rick Snyder was a guest reader at the Campbell branch of the Detroit Public Library (Michigan Monitor April 14). In addition to reading "The Berenstain Bears' Trouble with Money," Snyder shared his financial advice with the young audience.
"Do you have a budget today? Do you know how to manage your money?" Snyder asked.
The Michigan Credit Union League donated 3,300 copies of the children's book. Village Community CU, Dearborn, with $18 million in assets, helped out at the governor's reading, while Vibe CU, Novi, with $416 million in assets, participated at the Berkley (Mich.) Public Library.
League Executive Vice President/Chief Operating Officer Ken Ross said, "Money Smart Week is a great time to take a step back from the day to day and to really focus on developing those skills that are necessary to use your money wisely in order to be a successful consumer."
In Missouri, Nikhil Krishmam of Fenton, Kyle Reading of O'Fallon and Chloe Momphard of Troy each earned a 2014 Money Smart Kid Essay scholarship April 4. The contest was sponsored in part by Vantage CU, a $705 million-asset credit union in Bridgeton, Mo. Scholarship amounts ranged from $500 to $2,000.
"This contest allows area students to demonstrate the skills they are learning and offers encouragement us that this generation will be wiser consumers throughout their lives," said Rachel Parrent, Vantage community engagement manager and Money Smart Kid Essay committee chair.
More than a dozen areas are participating in this year's essay contest, according to the Money Smart Week website.
The "10 Steps to Financial Success" seminar, sponsored by Land of Lincoln CU, Decatur, with $188 million in assets, helped Jennifer Coventry set her savings goals (Herald-Review April 12). She liked the idea of an emergency fund in case she needed repairs in her home. "I also want to continue learning about how to save for different things like vacation since I haven't taken a vacation in 13 years," she told the Herald-Review.
Land of Lincoln CU's Karalee Misner, business development manager, and Melissa Hesse, loan officer, coordinated the seminar. Misner said people have negative connotations with the terms "budget" and "financial management." She noted, "Instead of being apprehensive about a lifestyle change, they should be in the mindset of 'How can I make my money work for me?'"