School Spotlight: Embracing Summer Youth Education

Julie B greets a friend at a Sizzling Summer concert in Novi with plenty of fun things to share!

You may already know that our Student-Run Credit Union team works tirelessly during the school year to provide exciting and educational opportunities. But did you know that they provide assistance and services during the summer as well? This summer, our Education Partnership Coordinators (EPCs) were hard at work helping the community with fun activities, educational presentations, and more!

If you’ve been to a Youth or Kid’s Concert this summer, you’ve probably seen our EPCs in their orange Summer of Sharing T-Shirts, passing out giveaways and spreading the Community Financial spirit to the community. Plymouth’s Music in the Park, Northville Tunes on Tuesday, Canton Tuesdays are Terrific, and Novi Sizzling Summer are just a handful of the great concert partnerships we were fortunate enough to cultivate this year.

Our EPCs also had the opportunity to participate in Money Mondays, a summer day camp program through the Plymouth-Canton Community Schools. During Money Mondays, our team members visited Bentley Elementary four times throughout the summer with educational presentations designed to help campers learn financial skills to last a lifetime.

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All You Need to Know About Student Loans

While it might be tempting to approach student loans the same way you would a venomous spider—that is to say, by not approaching it—that’s not exactly the best tactic. Unfortunately, just like term papers or finals, student loans are a necessity that allow you to continue your higher education when funds are tight.

If you have already borrowed funds from a private lender, you will likely need to start making payments toward your loan before you graduate from your chosen college, university, or trade school. Fortunately, Community Financial and many Federal loan options don’t have this requirement, and alternatively offer in-school deferment options. However, it’s still a good idea to start making headway on any loans as soon as you’re financially able.

Here’s all you need to know about managing your student loan debt and transforming something daunting into a breeze:

1. Set It and Forget It

The best way to make sure you never miss a payment is to set up an automatic payment plan. With this in mind, it’s always a good idea to check and see if your lender offers discounts for auto-payments. Community Financial, for example, can potentially reduce your rate by 0.25% by enrolling in automatic, electronic payments during repayment from your account. Just make sure your account is ready for the auto-withdrawals so you don’t end up with an overdrawn account!

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A Dose of Reality at Hillman High School

Assistant Manager of the Atlanta Branch, Trena S,  explains the selections on housing and making good financial choices.

Hillman High School, in Montmorency County, recently teamed up with Community Financial to engage their students in a dose of financial reality! Hillman High School’s eleventh and twelfth grade students participated in a Community Financial sponsored “Reality Fair,” where students were asked to navigate the world of finances as adults!

The “Reality Fair,” developed by CUNA (The Credit Union National Association) and used by credit unions around Michigan, is designed to engage students in making money-smart adult choices. Students begin the Reality Fair by receiving a profession with a set salary and credit score. After students are taught about credit card debt, credit scores, student loan payments, and setting a monthly budget, they are tasked with choosing their transportation, housing, child care, home essentials, food, clothing, and more. The goal is for students to build a monthly budget within their set means, while simultaneously learning about the costs of necessary goods and services.

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School Spotlight: Looking Back and Moving Forward!

Two thumbs up for Zombie Math!

Community Financial’s Education Partnership Coordinators are once again ready and eager to start a new school year filled with financial education and Student-Run Credit Unions! Last year, with many schools going virtual and in-person visits at a minimum, financial education looked a little different (with many presentations done virtually). Nevertheless, lots of learning opportunities took place! We look back on a year of enormous challenges, but with lots of positives and growth in-between with all of our amazing Education Partnership Coordinators, students, and school partnerships!