Students from LA's Baldwin Park High School Once Again Compete in National Financial Capability Challenge
Mar 12, 2012 | News & Press
Baldwin Park Students Finished in the Top 20 Percent during the 2011 Challenge
FOR IMMEDIATE RELEASE
Contact: PCGCampbell Kyle Reuter (310) 224-4957
IRWINDALE, Calif. (March 12, 2012) – After posting excellent results in 2011, Baldwin Park High School will once again compete in the National Financial Capability Challenge, March 12 through April 13, 2012. The Challenge, produced by the U.S. Department of the Treasury and U.S. Department of Education, educates high school students on the ABCs of personal finance.
“All (Baldwin Park High School) business students took the challenge last year and passed with flying colors,” says Craig Peacock, Baldwin Park High School teacher and Virtual Enterprise coordinator. “Their success comes from the motivation of a high quality business education at Baldwin Park High School and the support of the SCE FCU Foundation.”
SCE FCU partners with schools and community organizations to bring financial literacy to the public, and the credit union foundation will conduct more than 100 financial literacy workshops and courses in 2012. Abigail Ulm, Manager of Services for the SCE FCU Foundation says, “Our financial education program continues to grow and we’re planning to expand the program this year.”
“It is my educated opinion that financial literacy is as vital as reading, writing, science and math when it comes to preparing young people for the real world,” says Peacock.
In 2011, 52 public schools in California competed in the competition and posted scores below the national average, which can be attributed to California high school students not being required to take a financial literacy course in order to graduate.
Baldwin Park High School, which offers a financial literacy program with the help of SCE FCU’s Foundation, had 10 students finish in the Challenge’s top 20 percent nationally in 2011.
“Through the SCE FCU Foundation, teenagers are forming healthy money management skills,” says SCE FCU CEO Dennis Huber. “In 2011, we were able to help nearly 4,000 individuals with financial educational programs. Our foundation is an extension of the credit union movement – people helping people.”
Last year, SCE FCU partnered with Boyle Heights Technology Center and Watts Youth Opportunity Movement, two non-profits running a special youth workforce program for 14-21 year olds, to educate them on smart money management skills. More than 140 participants opened a special savings and checking account, which SCE FCU designed with safeguards to avoid overdraft fees as students learn to use their account.
SCE Federal Credit Union was founded in 1952 and currently has nearly 50,000 members, $560 million in assets, several Southern California and Nevada branch locations, thousands of shared branch locations across the United States and more than 28,000 surcharge-free ATMs available to members. SCE FCU serves all of Southern California, Henderson and Clark Counties in Nevada, with membership open to individuals and businesses. SCE FCU is a not-for-profit entity committed to improving the financial well-being of the communities it serves, especially those underserved by mainstream financial institutions. With a strong commitment to volunteerism, employees donate hundreds of hours to local community causes each year. Additionally, the creation of the SCE FCU Foundation provides much-needed financial education to the underserved in Nevada and Southern California at high schools in Duarte, Baldwin Park, Ontario and Lynwood, Calif.