MADISON, Wis. – A grant from the National Credit Union Foundation helped BECU to host financial reality fairs leveraging the Bite of Reality App and reach more than 7,000 high school students in one day.
As part of its Closing For Good event,12 BECU offices closed on Columbus Day this year so that more than 1,800 employees could visit 12 high schools in Puget Sound and Spokane and give presentations using the Bite of Reality App from the Richard M. Myles Foundation. Bite of Reality is an interactive financial literacy experience for high school students.
“We developed and launched the Bite of Reality App in 2016 to modernize reality fairs, not just for the RMJ Foundation, but with the hope of expanding it throughout the industry,” said Tena Lozano, RMJ Foundation Executive Director. “The National Credit Union Foundation’s grant allowed us to add an infrastructure so we can share our technology with the rest of the credit union movement.”
BECU in Tukwila, Wash, was the first credit union organization to license the Bite of Reality App, customizing it for its own use, the RMJ Foundation said.
The app-based program allowed BECU to reach more than three times the number of students reached in 2016. A video overview can be found if you click here.
“Our goal at Closing for Good is to help teens learn how to manage their money responsibly and make smart financial decisions as they prepare for life after high school,” said Rachel Van Noord, BECU’s director of community outreach. “Our ability to customize the Bite of Reality app allowed us to better connect with digitally savvy students. We saw more engagement as students saw real-time financial impacts of their decisions as they experienced the event.”
“The Foundation has seen first-hand the profound effectiveness of Reality Fairs for over ten years and we are proud to facilitate the modernization of the Fairs to reach more students across the country,” added Gigi Hyland, Foundation executive director. “We also owe a huge thanks to CUNA Mutual Group for their generosity in helping to underwrite this grant.”
“Our organization strongly believes in teaching kids the importance of finances early to help them achieve financial confidence as they grow,” said Beth Cutler, CUNA Mutual Group Foundation leader. “It’s all part of helping people attain economic stability, and CUNA Mutual Group is proud to help sponsor this work.”
The Foundation said it is currently working with the RMJ Foundation on plans to help reality fair practitioners everywhere access this new resource to help more youth become financially capable.