HUNTINGTON BEACH, Calif.–As part of what it said is its long-standing commitment to promoting and improving financial literacy in local communities, Nuvision Credit Union has announced the completion of its “How Money Works” year-long course at Costa Mesa High School, in Costa Mesa, Calif.

The credit union’s monthly How Money Works financial literacy class at the high school, which began in September and concluded in May, had 130 enrolled students, ranging from freshmen to seniors.  Throughout the school year, the monthly class covered a variety of money management topics, such as financial planning, creating savings, investing, building credit and “good” debt.

“The program was developed to help young people prepare for their financial futures by empowering them with essential money management skills,” Nuvision CU said.

Nuvision partnered with leading financial educators from Ontario, Calif.-based HowMoneyWorks.com/baron to teach the course at the high school. 

HowMoneyWorks.com’s lead financial educator, Lester Baron and his team instructed the class, along with the support of volunteers from Nuvision.  The course detailed steps to financial freedom, including Budgeting 101, enabling students to set achievable financial goals for themselves, NCU reported.

“It’s a pleasure partnering with Nuvision to bring this important series of financial literacy classes to students,” said Baron in a statement. “Through this program we were able to teach students the essential skills that will be vital in helping them building a financial foundation to build and manage their lives financially now and in the future.” HowMoneyWorks.com notes that financial illiteracy is the #1 economic crisis in the world, which impacts more than 4.5 billion people worldwide.

Seniors Recognized

The final class session in mid-May culminated with the credit union recognizing the 26 seniors who finished the program by presenting them with a Nuvision Certificate of Completion. Every student who participated in the program throughout the year also received a certificate of achievement, as a reminder of their accomplishment, Nuvision reported. 

Upon completion of the class, seniors were invited to participate in a Financial Literacy Video Challenge — to create a 60–90 second video about a favorite financial lesson that they learned from the class, and how they planned to apply it in real life. Five students were selected to win scholarships for their creative video presentations, ranging from $250-$500 each.

“Students had overwhelmingly positive reviews of the course, crediting it for their newfound approach to fiscal responsibility in their own lives,” Nuvision said. “Many students in the program reported that they had established personal bank accounts, emergency funds, started a line of credit, and spent money less frivolously than before they entered the program.”

“I’ve learned the value of knowing how to budget money, manage debt, knowing how to network with others, how to save in case of emergencies, and how to invest,” said senior Daisy Serrano. “I have been able to (start) saving up money for my retirement fund, college fund and any emergencies that I might have in my life.”

Costa Mesa senior Jaiden Ferrier added that “From now on, when I get money, whether it’s from a job or my birthday, I’m saving at least 10% before anything else.  Money will go straight into a savings account and eventually into investments. I’ve got a plan, a mindset shift and a saving strategy that actually works.”

“This course has been so beneficial for me to understand how saving works, how important a plan is, and how beneficial investing can be” noted another student.

‘Highly Valuable’

Educators at the high school saw the class as a highly valuable educational tool for students, noting students’ growth and increased understanding of managing personal finances.

“Nuvision provided our students with such a positive experience this school year — they helped us bring in real, usable knowledge that we just weren’t equipped to teach on our own,” said Tim Postiff, longtime educator and AVID (Advancement Via Individual Determination) Program Coordinator at Costa Mesa High School.  “The program was well thought out and provided a lot of useful information for our students.  For them to get those basic foundational skills and financial literacy have been extremely beneficial. We’re already seeing real changes in how students think about money. Some of our seniors are already changing how they handle money.” 

In addition to the class at Costa Mesa High School, Nuvision reported it also held its annual one-day financial literacy seminar at Lakewood High School in Lakewood, California, at the end of April, which included more than 100 students. The seminar was a hands-on financial literacy event aimed at empowering teens and young adults with essential financial skills.

“Financial literacy is an Important part of our mission at Nuvision,” CEO Roger Ballard said in a statement. “We are excited to be partnering with Lester and How Money Works to bring financial literacy to schools and young people in our communities. Through this program we are preparing them to go out into the world equipped to manage their money and their finances, to save, build credit and to invest. By equipping students with essential financial literacy skills, we are able to help them make informed decisions about money management and build a strong financial future.”