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November 9, 2012

LOCAL CREDIT UNION FOUNDATION AWARDS $2,000 FOR
FINANCIAL LITERACY INITIATIVES

Woodbury, MINN. – United Educators Foundation has awarded four grants to schools for their 2012/2013 financial literacy initiatives related to saving, math, money management and creating a financial foundation for youth. Each school received a grant up to $500. The winning schools are South High School, (Minneapolis), Oltman Middle School (St. Paul Park), Barnum High School (Barnum), Eagan High School (Eagan).

"It's very important for students to learn financial concepts, along with the basics of handling money and finances that are needed to succeed in life," said Del Danielson, President and CEO of United Educators Foundation and United Educators Credit Union. "We are proud to support those teaching financial education and giving our youth the tools they will need for economic independence."

The grant recipients are:

South High School, (Minneapolis); Social Studies teacher Richard P. Nohel will use the grant to purchase two games that will help reinforce learning and strengthen awareness of economic concepts. The games are "Wealth of Nations" in which the students will have to build an actual economy and "Suburbia" which shows how national economic policy influences the ways in which local communities deal with issues of population growth, employment, local business, infrastructure and urbanization.

Oltman Middle School (St. Paul Park); Oltman 6th Grade Mathematics teachers Dan Boyd, Stacy Hinz, Jamie Tillman, Rebecca Pederson and Nicki Prax will create a store for the whole middle school - in which the 6th grade students will be responsible for book keeping, ordering supplies, setting costs, advertising and the day-to-day management of the store. This will allow students to take part in operating a small business in which they can learn how to prepare for their future financial ventures.

Barnum High School (Barnum); Teachers Dana Luehr and Cullen Franek in the Computer Technology, FACS and Business Departments are going to implement a project that will teach financial recordkeeping, budgeting, and electronic bill pay by using and comparing applications for electronic mobile devices. Barnum High School teachers will use the grant for purchasing financial management software applications that will be installed on a set of 30 student iPads and two teacher iPads which the high school currently owns.

Eagan High School (Eagan); Patsy Keech and Paul Kovach from the Work Experience and Business Development departments of Eagan High School will be using the grant money to purchase supplies for students to create, market and sell products made out of duck tape (such as, name badges, wallets and luggage tags). Through this project they will learn about product creation, create a business plan that includes start up money, cost of product, who their market is, how much to price products, how supply and demand effect price and how to budget their expenses and profits. Their ultimate goal is to generate enough sales to make the project a self-sustaining part of the curriculum.

The United Educators Foundation was established in 2008 to generate and provide contributive funding and resources that advance educational initiatives and support charitable causes within the educational communities United Educators Credit Union cooperative serves. The Financial Literacy Grant program was created to help ensure financial education begins at a young age, and to support the educators teaching it.

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