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Millionaire's Club Receives Economics Foundation Grant

Wed, Aug 7, 2013

Columbia, Maryland

The Board of Directors of the Credit Union Foundation of MD & DC are pleased to announce The Calvin K. Kazanjian Economics Foundation, Inc.'s award of a $32,800 grant in support of the Millionaire's Club high school financial literacy initiative.

The grant was awarded to assist in the further development of the program and to assist in its positioning as a national model.

"The Millionaire's Club launched two years ago in two pilot schools," noted CU Foundation Executive Director Kyle Swisher.  "With the support of sponsoring credit unions and an Innovation Grant from the National Credit Union Foundation we expanded the Clubs into eleven sites in five counties and we are preparing to launch a half dozen or more Clubs in the coming school year."

Originally envisioned as an after-school activity, the Millionaire's Club is increasingly being delivered in-class where it is reaching an expanding student body.  The turn-key program provides schools with no-cost student materials produced by the National Endowment for Financial Education, and incorporates additional curriculum, seed funding, Club banners, and participation in regional and national competitions including the Personal Finance Challenge and the Stock Market Game, to create an engaging Club-like atmosphere.

Each Club is partnered with a sponsoring credit union that provides guest speakers and a direct link to nonprofit financial services professionals. 

Clubs are encouraged to plan and carry out an entrepreneurial project that reinforces the budget and planning modules included in the curriculum while also generating funds to sustain the Clubs.

The Kazanjian Economics Foundation's grant will provide the resources needed to grow the popular program, according to Swisher, and allow more students over a larger geographic area to participate.