IRWINDALE, Calif. (May 8, 2012) – When SCE FCU financial instructors talk to Baldwin Park and Duarte High Schools’ business classes about financial literacy, the students cash in.
Combined, the San Gabriel Valley schools had 19 students finish in the top 20 percent nationally during the month-long web-based National Financial Capability Challenge (NFCC) designed by the U.S Dept. of Treasury and the U.S. Dept. of Education to teach high school students the X’s and O’s of personal finance.
“This year marks the second consecutive time our business students have participated in the NFCC and secured top finishes,” said Craig Peacock, Baldwin Park High School teacher and Virtual Enterprise coordinator, who had 12 of his students finish above the 80th percentile. “Not surprisingly, this is also the second year SCE Federal Credit Union financial experts have provided in-class assistance and mentoring to our students. The financial literacy series they offer is an invaluable learning tool that helps prepare our kids for the NFCC and, more importantly, provides them with a money management foundation to build on.”
SCE FCU has been supporting residents in the San Gabriel Valley for 60 years and partnering with local schools in their community for the past eight years. Their credit union foundation will conduct more than 100 financial literacy workshops and courses throughout 2012.
“Our foundation was created to help young people gain financial insight and moxie for facing the real world,” said Dennis Huber, SCE FCU CEO. When local kids secure top 20 percent finishes, it’s validation we’re getting through to them. Congratulations to the students for their outstanding efforts.”
California is one of 46 states that do not require students to take a financial literacy course in order to graduate. In the 2012 NFCC, California’s average student score was 67.09 percent, which ranked them 44th out of the 50 states.
Duarte High School – which had seven students place in the nation’s top 20 percent – like Baldwin Park, offers their students a financial literacy program with the help of the SCE FCU Foundation.
“Giving our students the financial acumen to succeed in real world situations is absolutely critical,” said Joe Kenney, Duarte High School teacher, who has welcomed SCE FCU financial instructors into his classroom each of the last six years. “With consumer credit card debt reaching all-time highs, it has become imperative that we give our young people the tools and resources to appropriately manage their personal spending and borrowing. It’s about putting them in position to succeed.”
ABOUT SCE FCU (www.scefcu.org)
SCE Federal Credit Union was founded in 1952 and currently has nearly 50,000 members, $560 million in assets, several Southern California and Nevada branch locations, thousands of shared branch locations across the United States and more than 28,000 surcharge-free ATMs available to members. SCE FCU serves all of Southern California, Henderson and Clark Counties in Nevada, with membership open to individuals and businesses. SCE FCU is a not-for-profit entity committed to improving the financial well-being of the communities it serves, especially those underserved by mainstream financial institutions. With a strong commitment to volunteerism, employees donate hundreds of hours to local community causes each year. Additionally, the creation of the SCE FCU Foundation provides much-needed financial education to the underserved in Nevada and Southern California.