SANTA FE, N.M.–More than 1,000 students in three northern New Mexico cities recently had the opportunity to get hands-on experience with personal finance and money management through Guadalupe Credit Union’s CU 4 Reality Financial Education Fair. Guadalupe Credit Union received support for the project from the National Credit Union Foundation through a grant this year.
“Spending money has never been easier than it is today, especially for our young people,” said Winona Nava, President and CEO of Guadalupe Credit Union. “Too many students are learning to live beyond their means, because only a fraction of them are learning to manage their personal finances in school. We felt a hands-on experiential learning exercise would help make it more real than just numbers in a book.”
Diane Sandoval, Guadalupe CU’s Financial Empowerment Coaching Manager, added, “The CU 4 Reality curriculum creates a fun and interactive learning environment where students can practice specific financial management skills and learn early on the consequences of getting in over their head when it comes to financial matters. We had quite a few students who had to get new jobs or start over because of their initial spending decisions. The fair was a real wake-up for some of the kids.”
Guadalupe Credit Union said it was able to reach 1,050 students through Reality Fairs with the help of staff and community partners. Aside from the Foundation, they received assistance and volunteers from various organizations such as Northern New Mexico Schools Credit Union, Zia Credit Union, CUNA Mutual Group, Horace Mann Insurance and the Credit Union Association of New Mexico.
“The reactions and feedback from the students was telling,” exclaimed Nava. “They said things like, ‘It’s better to stay in school so I can get a good job,’ ‘Now I know what my parents go thru,’ and ‘I learned what you really need and don’t.’ Guadalupe Credit Union wants fill the need we see for financial education and continue to provide the information these kids need to become strong, financially healthy adults.”