DANVILLE, Pa. (6/30/14)--Service 1st FCU, Danville, Pa., with $233 million in assets, and the Pennsylvania Credit Union Foundation awarded the Shikellamy School District a $5,000 grant to offer the Stock Market Game Program (SMGP) to district students in the 2014-15 school year.
The SMGP is offered in conjunction with EconomicsPennsylvania, a financial literacy and economic education service provider accredited by the National Council on Economic Education, the Pennsylvania Credit Union Association reported (Life is a Highway June 27).
The program is used in fourth grade through high school classrooms nationwide to teach economics, math, social studies, language arts and technology, while focusing on the importance of developing real-world, personal-finance skills.
Students start with a virtual cash account of $100,000 and strive to create the best-performing portfolio using a live-trading simulation. In building a portfolio, students research and evaluate stocks, and make decisions based on real Internet research and news updates. Players work together in teams, practicing leadership, organization, negotiation and cooperation as they compete.
Service 1st FCU acknowledged Rep. Lynda Schlegel-Culver (R-Sunbury) for her interest in the program. The idea for the grant was the result of dialogue Service 1st had with Schlegel-Culver on the importance of educating students about financial matters.
"As parents, educators, government representatives and financial institutions, it is important that we invest the time, energy and resources into teaching our children financial literacy," Schlegel-Culver said. "Looking at our youth as the future leaders of our communities, our commonwealth and our country, it is imperative they understand money, banking and investing. This knowledge will empower them with the skills to make informed financial decisions."
The grant is the second Service 1st FCU and the foundation have worked together on. The first grant was in 2009 to promote financial literacy in the Danville Area School District.