LIMESTONE — The Aroostook Chapter of Credit Unions, which includes Acadia Federal Credit Union, NorState Federal Credit Union, and The County Federal Credit Union, will host a Financial Fitness Fair at Loring Job Corps in Limestone on Oct. 24 at 9 a.m. The annual event helps juniors from each high school in Aroostook County learn about money management and budgeting.
“The Loring Financial Fitness Fair is one of our Chapter’s signature events,” said Jill Bouchard Cairns, chair of the Aroostook Chapter of Credit Unions Financial Fitness Fair Committee. “Every high school in the county is invited to bring their junior class here to learn meaningful financial skills. On average, we see over 300 kids. It’s a learning event, but we keep it fun, which is why we have great student participation.”
During the fair, students choose a career they are interested in pursuing in the future and are then assigned a monthly income. With that income, the students are challenged with paying for monthly expenses the average adult is faced with each month –– including housing, transportation, food, insurance, and more. Students visit booths, which are associated with expenses, and meet with credit union representatives who guide them through managing their budgets, living within their means, and building their credit scores. The end goal is for the students to cover the cost of their monthly expenses without spending more than they earn.
“Much like in real life, students will experience some curveballs at random,” said Bouchard Cairns. “They’ll need to use creative thinking in order to balance their budgets—especially if they’re faced with a financial misfortune instead of a windfall.”
Students attending the fair also will be given an opportunity to apply for a $1,000 college scholarship payable to them upon graduation from their high school. Applicants must attend the fair; plan to enroll in a two-year or four-year college/university; be a member or have a parent who is a member of a credit union in Aroostook County; complete the scholarship application form in its entirety; and submit the form to any of the three credit unions by Dec. 15.
“The event offers students great insight into what their lives may look like in just a few short years,” said Bouchard Cairns. “Financial education is the foundation for everyone’s relationship with money and our credit unions are proud to do our part.”
The event concludes at 12:30 p.m. A bagged lunch prepared by students in Loring Job Corps’ Culinary Arts program will be provided to the attendees. Additional cash prizes also will be offered upon completion of the mock monthly budget. For more information about the fair, contact Jill Bouchard Cairns at Acadia Federal Credit Union at 1-855-692-2234.
The Maine Credit Union League is a nonprofit, professional trade association that exists to serve Maine’s credit unions. Founded in 1938, the League’s mission is to help credit unions succeed and improve the financial lives of their members. As the trade association for Maine’s credit unions, the League provides advocacy, education, and other resources designed to assist credit unions in meeting the needs of their membership.
For more information, visit http://www.mainecul.org.
