Mt. Ararat ELO Coordinator Partners with Local Credit Unions to Empower Tomorrow’s Financially Savvy Generation

During financial literacy month in April, Doug Ware, the Extended Learning Opportunities (ELO) Coordinator at Mount Ararat High School, hosted a Financial Fitness Fair for the junior class.

Doug Ware, ELO Coordinator at Mt. Ararat engages with a student working on their financial fitness packet. Around them credit union representatives talk with students about financial literacy.

The school gymnasium buzzed with energy as students navigated through booths and interactive activities. Each station provided a hands-on learning experience related to finances. Students experienced a simulation of their future monthly budget based on their career of interest and gained valuable insight into possible financial challenges they may face in adulthood. The goal for the students was to pay for all of their monthly expenses but without paying more than they earn each month.

“Students have really enjoyed the Financial Fitness Fair events,” said Ware. “They report to have learned much about building credit, managing budgets, prioritizing expenses, and planning for the long term. We are working to ensure that all Mt. Ararat high school students graduate with at least basic financial literacy.”

“This is one of the most enjoyable aspects of working for a credit union,” said Jennifer Anderson, Senior Vice-President of Retail Services at Five County Credit Union and President of the Jeannette G Morin Credit Union Chapter. “I love the fact that multiple credit unions from around the state work together regularly to volunteer at our local high schools and talk to students about budgeting while also sharing our industry knowledge and advice with them. Even though we are each other’s business competition, we believe so strongly in the philosophy of people helping people and financial well-being for all that we bind together as Maine’s credit union industry to bring these events to our communities.”

Credit union volunteers discuss housing options with students based on their income.

Incorporating financial literacy into secondary education is crucial in equipping youth with the skills and knowledge needed to navigate the complex world of personal finance. This is an opportunity to instill confidence and empower students to take control of their financial futures.

Credit union volunteers host Financial Fitness Fairs at no cost to schools. Jake Holmes, Director of Outreach and Financial Education at the Maine Credit Union League, shared how, collectively, credit union volunteers have hosted Financial Fitness Fairs for nearly 73,000 Maine students since the program’s inception in 2004. Credit unions that serve the same geographic regions work together to host these money management events.

One of the most popular stations was the “Life Happens” booth, where students could spin a wheel, and the arrow would land on an unexpected life event, ranging from dental work to a car accident. This exercise highlighted the importance of living within one’s means and prioritizing financial goals.

Credit Union Volunteers help students assess the transportation options based on their budgets.

By participating in these fairs, students gain a deeper understanding of the importance of financial responsibility and the long-term implications of their financial decisions. They learn to make informed choices about future savings, avoid debt pitfalls, and plan for major life expenses like college or homeownership.

Financial fitness fairs empower high schoolers to build a solid foundation for their financial well-being and can help set them on a path toward a more secure future.

ELO Coordinators like Doug Ware provide broad connections to the community and hands-on learning experiences for their schools. This event is one example of the immersive educational events that ELO Coordinators across the state help to provide.

Students take a break from the interactive booths to assess their budgets.

“I have worked to support credit-bearing ELO experiences such as internships, independent studies, and work-based studies,” explained Ware. “I have also made an effort to connect students to unique learning opportunities that enhance the great work that is already happening in our classrooms. Many such opportunities arise from relationships that we have developed with members of our business and non-profit communities. The Financial Fitness Fair is one such example. We feel very fortunate to have incredible partners like Jennifer Andersen, Jake Holmes, and their team of generous volunteers from Maine Credit Unions. Their engagement with students has such an important impact. I also credit the Mt. Ararat staff and administrative team. Our school community places value on these enriching experiences, and many are willing to pitch in when needed to make things happen!”

This month, at Nokomis High School, ELO Coordinator Kristine Eisenhour has arranged a Financial Fitness Fair for their students and others are in the planning stages. Mount Ararat High School and Nokomis High School were both awardees of Maine Job and Recovery Plan grants totaling more than $5.6 million, supporting 26 programs across Maine covering 13 counties. In a world where financial literacy is more important than ever, ELO Coordinators and their communities are helping to pave the way for a brighter tomorrow.

Learn more about Financial Fitness Fairs.

Learn more about the Maine Jobs Recovery Plan.

Learn more about ELOs in Maine or reach out to Lana Sawyer at lana.sawyer@maine.gov.

Apply Now! Schools, community-based organizations, and childcare providers can apply for the 2024 Maine Out-of-School Time Career Exploration grants through the Maine Department of Education (DOE). These grants support meaningful career exploration opportunities for students in grades 4 – 6 that connect students with Maine businesses and career opportunities, which may include experiential learning trips, guest speakers, job shadows, and more! Underlying these experiences is critical to helping students build and strengthen relationships with caring adults and peers in their schools, childcare centers, and communities.

Funded through Governor Mills’ Maine Jobs and Recovery Plan, the 2022 Statewide Expansion of Extended Learning Programming has engaged hundreds of secondary students throughout the state in real-world career exploration experiences. The Maine DOE is excited to build on these successes to reach younger students in this expanded career exploration program. The 2024 Maine Out-of-School Career Exploration Request for Applications (RFA, also known as grants) is available here: Grant RFPs and RFAs | Division of Procurement Services (maine.gov). See RFA 202404087

Schools, nonprofit organizations, licensed or licensed-exempt child care providers, municipal parks and recreation departments that are current members of the Maine Recreation and Park Association, and public libraries may apply. Please see the RFA for explicit information and definitions on eligibility and allowable uses of funding.

Grant awards will range in size, with $300,000 available. The 2024 Maine Out-of-School Time Career Exploration grant requires a marketing and outreach plan for reaching students from disadvantaged backgrounds as well as an emphasis on Maine DOE’s Whole Student Framework.

This funding can potentially facilitate career exploration for students in grades 4 – 6 before, during, or after school, on weekends, and/or during the summer. Applications will also be considered for schools and organizations that wish to use the funding to enhance or expand existing out-of-school programming. Grants are expected to be awarded at the beginning of June. All programming must be completed by September 1, 2024.

The Maine Out-of-School-Time grant opportunity is available through the Maine Jobs and Recovery Plan, funded in its entirety by the American Rescue Plan Elementary and Secondary School Emergency Relief (ARP ESSER) fund.