Mid-Minnesota FCU uses foundation's financial education grant to expand personal finance classes | Pineandlakes.com - Pineandlakes Echo Journal

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Mid-Minnesota FCU uses foundation's financial education grant to expand personal finance classes

Credit union helps students understand basics of money management

Posted: June 25, 2013 - 4:45pm

In 2008, Mid-Minnesota Federal Credit Union launched its Education Network program to educate members on a variety of subjects, such as identity theft and online banking.

The program expanded to Brainerd High School and has since grown to a 13-week personal finance course offered every semester at the school, which touches every junior and senior in the school by the time they graduate.

Over time and solely through word of mouth, MMFCU has expanded its financial education and teaching and now reaches Pequot Lakes, Crosby, Little Falls, Staples and Pierz.

This fall, MMFCU will broaden its personal finance repertoire by making its educational classes available in an online format, as part of an existing course offered by Central Lakes College in Brainerd, thanks to a grant from the Minnesota Credit Union Foundation.

Through its newly established Financial Education Grant Program, the foundation made its inaugural award to MMFCU to assist with the transition to online learning.

We want to expand our offerings to provide financial education to young adults at a time when these topics have been cut from schools’ curriculum due to budget cuts,” said Jill Carlson-Ferrie, MMFCU director of learning and development. “By building relationships with local schools, we have the opportunity to fill that void.”

MMFCU provides all of the classroom materials for the teachers and the schools, including worksheets, handouts and a folder of reference materials that is intended for students to bring home and discuss with parents.

Classes cover the difference between credit unions and banks; saving, investing and managing money; establishing and maintaining credit; identity theft; applying for a loan; and buying a car and insurance.

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