This is a press release submitted to the Las Vegas Sun. It has not been verified or edited by the Sun.
Credit Unions United to Give Teens a Bite of Reality
Published on Mon, Mar 31, 2014 (12:22 p.m.)Several local credit unions collaborate on a financial simulation for teens to promote financial literacy
To celebrate Financial Literacy month, the Southern Nevada Chapter of the Nevada Credit Union League presented its first Bite of Reality event on Saturday, March 29 at 10am at Clark County Credit Union located at 9311 W. Sunset Road. This was a free event to students and was by 41 kids between the ages of 10 and 18 years old.
Bite of Reality is an interactive real world simulation designed to teach teenagers how to manage money challenges while learning about budgets and checking accounts. Each student was assigned an occupation, salary and number of children. They then needed to pay all their monthly expenses – rent/mortgage, groceries, transportation, utilities, credit card debt - by check without overdrawing their account and putting a little something into savings. Meanwhile the Fickle Finger of Fate was handing out cards directing the students to deduct emergency funds for the unexpected such as a car repair or trip to the emergency room with a sick child. Fortunately, the game also included a credit union station that students could visit for all of their financial needs.
“We hope this event gave our participants a better understanding of what it’s like to make financial decisions as an adult,” said Jaron Singleton, President of the Southern Nevada Chapter. When students were asked after the event what they learned from the exercise, many said, “Having kids is really expensive!”
Bite of Reality was presented through the collaboration of several local credit unions and the chapter. By working together, local credits unions can educate a wider audience about the benefits of credit union membership and the community support credit unions provide in Southern Nevada. Participating credit unions included: America First Credit Union, Boulder Dam Credit Union, Clark County Credit Union and Credit Union 1.
The Southern Nevada Chapter of the Nevada Credit Union League actively supports and promotes the credit unions in Southern Nevada through advocacy, education, information and leadership.