WOODBURY, Minn.–Ideal Credit Union hosted two sessions of its award- winning “Money Talks” financial literacy program, attracting 42 students from around the metro area. The unique peer-to-peer program, led and taught by high school-age Ideal CU Student Credit Union employees, teaches students the building blocks of personal finance: budgeting, savings and investments, credit, and money management tools. Students in attendance ranged in age from 16 to 22 years and came from a number of local communities.
“The overall objective is to provide valuable financial education to students via their peers so they have the knowledge to make informed and conscious money decisions,” stated Ideal CU President/CEO Brian Sherrick. “Ideal Credit Union is committed to financial literacy and to helping youth develop lifelong skills for managing their money.”
Participants earned a $100 cash stipend for completing the day-long course and passing the “I’m Financially Ready” exam. All students must establish a Savings Account with Ideal before completion of the course in order to receive the $100 stipend. Approximately 381 students have been through the “Money Talks” financial literacy program since its inception in 2013. To date Ideal CU has awarded $38,100 in cash payouts to students completing this program.
Ideal CU said it offers a suite of student financial products help youth build their financial future, including Free Student Checking, a Student Savers CD and a unique Credit Builder loan to help establish that all- important credit rating.
Ideal CU has operated a student-run branch at Tartan High School in Oakdale, Minn. since January 2013.