Tue, Oct 31, 2017
Members of the Howard County Education FCU-sponsored Millionaire’s Club at Mt. Hebron High School in Ellicott City have used their annual entrepreneurial project in a unique and helpful way.
In addition to learning life-improving personal finance skills, members of the Millionaire's Club financial education experience also plan and engage in an annual entrepreneurial project. The projects are designed to help the Club members learn basic business planning skills and to generate revenue for Club expenses. Here's how one Club used their project to help others in need.
When it came time for the Mt. Hebron High School Millionaire's Club in Ellicott City, MD, to plan their annual entrepreneurial project, the Club's officers knew what they wanted to do. They designed, marketed, and sold tee shirts to benefit recent hurricane victims. The Club sold 470 tee shirts at $10 each, promising their customers that 50% of the profits would be donated to hurricane relief.
"We just mailed $1,500 to hurricane relief fund, One Nation - One Appeal, sponsored by five living past U.S. presidents," reported Club Advisor and Mt. Hebron faculty member, Bernadette Bechta. "In addition, we were able to add almost $1,100 to our Club treasury for the year.
"The school community was very responsive and we launched a day when everyone could wear these tee shirts. We called it, "Wear White, Let's Unite," to show compassion for the hurricane victims."
Millionaire's Club members learn the basics of budgeting, selecting financial services, protecting their assets and identities, responsible borrowing, career choice, and investing on a "virtual" basis in addition to planning the annual entrepreneurial project.
Created five years ago by the CU Foundation MD|DC, Millionaire's Clubs have been growing at an increasing rate and as of this writing over 1,800 students benefit annually from their participation at forty-four sites.
School Clubs are paired with a sponsoring credit union and 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 Clubs have produced State and National personal finance champions as well as first-place Stock Market Game™ competitors.
Detailed information on the expanding financial literacy program is available at MillionairesClub.org.