VIENNA, Va. – Navy Federal Credit Union staffers have provided some 70 Edison Academy students a dose of financial reality. Designed to give kids a "real life" experience, the two day workshop dubbed the Reality Store helps students learn the importance of making smart decisions and setting realistic financial goals first-hand. "The whole experience is beneficial to everyone who participates; the students get a chance to understand financial planning in a real world scenario and Navy Federal employees are able to give back to the community by emphasizing the credit union motto of `people helping people'," said Navy Federal CU Systems Development Analyst Sally Anthis. As part of the workshop students are given a specific budget and living situation (married, single, single parent) with a time frame of 10 years from their graduation date. Students are encouraged to set aside money from their annual income for retirement, health insurance and savings. To keep things "real" each student is also given a "chance" card that includes unexpected events such as an emergency medical expense or even extra funds in the form of a check sent from a relative.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.