Metro Credit Union Empowers Young People with Financial Education Programs
November 13, 2018
Metro Credit Union is proud to be an organization that gives back to local communities through two programs that empower young people to take control of their financial future.
The credit union operates two full service branches in Chelsea High School and Peabody Veterans Memorial High School and is excited to continue the program through the 2018-2019 school year. High School students work at the credit union as part of a finance or accounting class through a partnership between the high school teacher and a Metro branch representative. The students can earn a college scholarship and while building their resume and learning valuable lessons in finance, money management, product design and implementation, retail, marketing and customer service skills.
“Metro’s in-school banking program is a unique opportunity for us to reach out to students in the community and provide a hands-on banking experience. We hope this will spark an interest in pursuing a career in financial services after the students graduate,” said Robert M. Cashman, president and CEO of Metro Credit Union. The High School branch program has been in place for over 20 years, and participating students have successfully pursued careers within the credit union upon graduating.
In addition to its high school branch program, the credit union is excited to announce the continuation of MoneySense, a free digital financial education program available in partnership with the leading education technology company EverFi, Inc. Metro is making a commitment to fund this financial literacy program, a major initiative that empowers young people by providing high school students across Massachusetts with the essential skills needed to make sound financial decisions.
In the 2017-2018 academic year, 14 Massachusetts high schools implemented MoneySense; reaching 1,950 students who have completed 5,448 hours of learning since the program was introduced in 2017. Students’ understanding of key financial topics rose by an average 71% based on pre- and post-assessment scores. Among the valuable topics covered were saving, banking, investing, renting versus owning, credit scores, taxes and insurance, and consumer fraud.
The eight-hour web-based program uses the latest in new media technology to bring complex financial concepts to life for today’s digital generation. The platform uniquely tracks the progress and performance of every student and provides students who successfully complete the course with certification in financial literacy, a valuable mark of distinction on college applications and resumes.
“Metro is proud to have empowered so many students with the essential skills needed to make sound financial decisions. It’s a testament to our investment in the communities we serve,” Charlene Bauer, Metro’s Chief Development Officer, said. “It is crucial that high school students understand important aspects of personal finance like the difference between wants and needs and how to make a budget. This course is providing them with the knowledge needed to successfully navigate the increasingly complex financial world we live in.”
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About Metro Credit Union
Metro Credit Union is the largest state-chartered credit union in Massachusetts, approaching $1.8 billion in assets. Metro provides a full range of financial products to more than 200,000 members in Essex, Middlesex, Suffolk, Norfolk, Plymouth, Barnstable, Bristol and Worcester counties in Massachusetts, and Rockingham and Hillsborough counties in New Hampshire, as well as to employees of over 1,200 companies through its Metro@work program.
Founded in 1926, Metro currently operates 15 branch offices in Boston, Burlington, Chelsea, Framingham, Lawrence, Lynn, Melrose, Newton, Peabody, Salem, and Tewksbury. Metro is also a Juntos Avanzamos (“Together We Advance”)-designated credit union, an honor give to financial institutions for their commitment to serving and empowering Hispanic and immigrant consumers.
Learn more at MetroCU.org.