June 7, 2017
Rochester, NH – The 8th Annual Spaulding High School (SHS) CU 4 Reality fair was held on Wednesday, May 17th. Holy Rosary Credit Union (HRCU) and Northeast Credit Union (NECU) partnered in sponsoring the event. A number of credit union staff were on hand volunteering and working with the kids. Over 350 SHS and homeschooled students participated in the fair.
The CU 4 Reality program is an event where students are taught basic financial literacy skills like budgeting, saving and planning for unexpected life expenses. Being able to have an opportunity to develop these skills, before students venture into the real world, can be greatly beneficial in leading to success in life.
Students are given the opportunity to meet with various representatives of businesses from the community to discuss real-world monthly expenses for needs like housing and transportation, while also being given spending options for entertainment and other discretionary expenses. At the program’s completion, each student’s spending is evaluated against the monthly income for their selected occupation and they get a feel for how within budget, or over budget, they may be.
“The CU 4 Reality program is a fantastic approach to introducing students to real world financial decision-making,” states Tim Collia, Northeast Credit Union President and CEO. “The kids take on the challenge with enthusiasm, and come away with their eyes open to the importance of smart spending habits. We believe the fairs truly have a lasting impact on the students.”
“Between our high school branch and assisting with events like CU 4 Reality, we are very proud to continue helping the education of the youth in our community on financial literacy,” said Brian Hughes, President and CEO of HRCU. “Something we always hear is that “I wish a program like CU 4 Reality existed when I was a student” because it really can be eye-opening to see first-hand what the real cost of living can be. Providing this education early on is a real bonus to students”.
Community members from HRCU, NECU, Bernier Insurance, Northeast Planning Associates, NH Banking Department, NH Department of Education, Broadview Animal Hospital, Hannaford, First City Motor Sales, CU Alliance, Delta Management Associates, Hourihane, Cormier & Associates, Greater Dover Chamber of Commerce & SHS Guidance Counselors volunteered as advisors during the event.