- July 10, 2021
- Posted by: Stratford Team
- Category: Business
In 2009 the credit union introduced a four-day “academy” that was held biannually during spring and summer breaks for five years, but reach was limited due to competition from family vacations and other scheduling issues. Since 2013 Redwood Credit Union has provided high school and college students with “Bite of Reality” financial workshops, where more than 16,000 youth have spent up to 2½ hours managing money as if they were an adult, said senior vice president Matt Martin.
The students get a fictional identity, with a job, salary, family, credit cards and a checking account. They visit tables manned by volunteers where they buy life needs, such as housing, transportation and child care, and try to resist temptations. Woe to those who are suddenly handed an unexpected tragedy, like a car wreck or illness. If they overdraw their checkbook, “financial wellness counseling” is available.
In October 2019 the “Bite of Reality”…
