Thu, Aug 29, 2013
Washington, District Of Columbia
HEW Federal Credit Union (HEWFCU) and Bank on D.C. joined forces with the Greater Washington Urban League (GWUL) this summer to host a Youth Financial Boot Camp for area youth ages 12 to 14. The objective of the camps was to teach financial literacy combined with critical thinking skills. Each Financial Boot Camp graduate also received an HEWFCU savings account with a $50 initial deposit provided by the GWUL.
Two consecutive weekly sessions were offered to up to 25 students per session. The Financial Boot Camp instruction consisted of trainer-led exercises and use of interactive teaching games and exercises. Students also took a field trip to HEWFCU’s full service branch in Silver Hill Maryland. Branch Manager Falana Clark provided a tour of the facility along with an overview of the services and support available to credit union members in the branch. The branch instruction brought to life the classroom lessons including savings, basic banking, credit/debit cards, creating wealth, goal-setting and budgeting.
HEWFCU President and CEO Kathleen Geary described the Financial Boot Camp as “an important opportunity for us to help our youth prepare for a successful financial future. “ According to Geary, “Teaching the basics of financial reality to this age group can help our youth avoid the pitfalls of damaged credit scores and debt challenges that we help our adult members overcome. The graduates of Financial Boot Camp now know more about the impact of credit history than many adults.” GWUL President and CEO Maudine R. Cooper added, “Partnership between local businesses and the GWUL are vital to helping our youth develop good financial habits and gain confidence in their ability to achieve financial success.”
HEWFCU serves over 18,000 members from branches in Washington, D.C., Maryland, Virginia and Pennsylvania. HEWFCU members work for Federal Government agencies, other major employers, and/or reside in underserved areas throughout the Washington Metropolitan area. The Greater Washington Urban League is a major interracial, nonpartisan, nonprofit social services and civil rights organization with headquarters in the District of Columbia and offices in Prince George's County, Maryland.