Wed, Oct 25, 2017
Municipal Employees Credit Union (MECU) of Baltimore, Inc. has sponsored a new Millionaire's Club financial literacy experience at Patterson High School in Baltimore City.
The school is host to the second Millionaire's Club in Baltimore City and the 43rd Club overall.
The Millionaire's Club, created by the CU Foundation MD|DC to help credit unions support financial education in their communities, is designed to help students reach financial independence starting at a young age. Clubs combine personal finance skills training with investment simulations, entrepreneurial projects, and competitions delivered in a club-like setting.
"We're proud to sponsor this new Millionaire's Club at Patterson High School. It's the second Baltimore City-based Club MECU has sponsored!" said Adrian Johnson, Senior Vice President & CFO at MECU of Baltimore. "This unique club teaches students about managing their personal finances and growing their money in a fun and meaningful way. Providing this opportunity for students is a natural extension of the outreach that MECU provides to our local communities. We look forward to launching additional Millionaire's Clubs in Baltimore City in the very near future."
Students elect their own leaders and actively participate in programs including an entrepreneurial project that allows them to put into practice their newfound skills and generate funds to allow the Club to become financially self-sufficient.
Millionaire's Clubs are provided seed grants, detailed curriculum, and faculty/student materials at no charge. Clubs are entered into local, regional, and national competitions such as The Stock Market Game™ and The Personal Finance Challenge™. Additional support materials add a fun, competitive edge to the Club's activities. Millionaire’s Club students have won top placement in the Maryland Personal Finance Challenge for five of the past five years, and National Personal Finance Challenge honors in 2014 & 2016, beating over 5,000 competitors.
Teachers at the host schools serve as Club Advisors and deliver the curriculum while sponsoring credit unions offer occasional guest speaking engagements on topics like "Selecting a Financial Services Provider," "Identify Theft," and "Using Credit Responsibly."
The Credit Union Foundation MD|DC created a dedicated website, MillionairesClub.Org, to empower credit unions and schools to create their own Clubs and share in the success of the program - at no charge.