The Cornerstone Credit Union Foundation improved the financial literacy skills of both students and educators through their collaborative Biz Kid$ pilot program, which focused on personal financial education and training for teachers, and featured a Biz Kid$ Entrepreneur Contest for students. Cornerstone Credit Union Foundation received a Biz Kid$ Financial Education Grant from the National Credit Union Foundation (NCUF) to help fund this initiative.
“We are excited to help fund Cornerstone Credit Union Foundation’s innovative program,” said Danielle Brown, Director of Development & Donor Relations for NCUF. “It is a creative way to integrate Biz Kid$ into the classroom and get kids engaged. Cornerstone Credit Union Foundation’s program is an excellent example of how credit unions can improve people’s financial lives in a creative and engaging way.”
Horace Mann Junior School 6th grade students receive awards for winning the Biz Kid$ Entrepreneur Contest with their "Yum Yum Shop".
Three credit unions participated in the program and partnered with local schools, selecting up to three teachers each to work with. Beacon FCU partnered with Horace Mann Junior High, FivePoint CU with Hamshire-Fannett Middle School, and Dallas CU with Francisco “Pancho” Medrano Middle School.
In January of this year, Cornerstone Credit Union Foundation, in partnership with the Consumer Credit Counseling Services of Greater Dallas, conducted a training session that provided personal financial education for teachers, and tips and techniques on how to teach the Biz Kid$ program.
Teachers then implemented the Biz Kid$ curriculum into the classroom and worked with their students to create a business plan for a community organization, incorporating the entrepreneur skills learned through Biz Kid$.
Each school worked with their partner credit union to come up with a business plan, and then presented those plans to an impartial panel of judges.
In the end, Beacon FCU and its partnering school, Horace Mann Middle School, won for their “Yum Yum Shop” school-sponsored concession stand.
“I’m confident that this experience made an impression on the students,” said Courtney Moran, Executive Director of CSCUF. “Having gone through this exercise, they have a better sense of what it takes to be a successful entrepreneur. And perhaps more importantly, they understand how important it is as a consumer, and small business owner, to have that credit union relationship.”
The overall winner, the “Yum Yum Shop”, has officially continued as a business and only opens when needed for philanthropic reasons within the school.
A Foundation Grant at Work
This “Grant at Work” is part of a series that highlights NCUF grantees who made a positive impact in their community and empowered consumers to achieve financial freedom through credit unions. NCUF grants are made possible by supporters of the Foundation.
Biz Kid$ - Teaching Kids about Money & Business
Biz Kid$ is a financial literacy initiative launched nationally in January 2008 that teaches kids about money and business. The initiative includes an award-winning TV series, free classroom curriculum, outreach activities, and a website targeting children 9 – 16 years old. NCUF is responsible for the fundraising and outreach of the program, and a coalition of over 300 credit unions and affiliates from across the country have helped exclusively fund Biz Kid$.
Many credit unions leverage Biz Kid$ to teach financial education in schools in their community. In addition to NCUF’s box sets and starter kits, companion materials and other resources for teachers and parents are available at no cost on the Biz Kid$ website, bizkids.com. The site also features clips from the series and invites kids to appear on the show. For more information about Biz Kid$, click here.
About the National Credit Union Foundation (ncuf.coop):
The National Credit Union Foundation (NCUF) is the charitable arm of the US credit union movement and works as a catalyst to improve people’s financial lives through credit unions. Through NCUF grants and programs, credit unions provide widespread financial education, create greater access to affordable financial services, and empower more consumers to save, build assets, and own homes. Donations to the Foundation enable credit unions to help their members reach life-changing goals and achieve financial freedom.
The National Credit Union Foundation is a 501(c)(3) tax-exempt charitable organization. NCUF continues to earn the Better Business Bureau seal of approval as an “Accredited Charity” for meeting all 20 BBB Wise Giving Alliance Standards for national charities.