DOWNEY, CALIF.— More than 400 Downey High School students gathered here in the theater to hear Financial Partners Credit Union President/CEO Nader Moghaddam, Downey Mayor Fernando Vasquez and Downey School District members speak about how the proper use of checking accounts, credit cards, loans and budgets can make their lives better.
The daylong event coincided with a newly-launched financial learning program provided by Financial Partners Credit Union. Credit union representatives from the consumer lending, member services, mortgage loans, insurance, investment planning and marketing departments made this an engaging platform to test students’ financial knowledge using such games as Financial Bingo.
The event gained much community support and Southland news attention, with Moghaddam and several students getting interviewed by KABC-TV and Univision.
Since the start of the semester, Downey High School students have been learning about saving, banking, payment types, credit scores, college financing, renting vs. owning, taxes, 401(k) plans, auto loans, insurance, consumer protection and investing. The program named Be Financially Fit!, was developed by EverFi, a financial education technology firm backed by such investors as Amazon founder and CEO Jeff Bezos and Twitter founder Evan Williams.
Financial Partners Credit Union sponsors the program at Downey High School and Warren High School, with eight teachers and 560 students total participating. In the classrooms, students use gaming and simulation online technology combined with instruction guided by the schools’ educators, who were trained by Financial Partners Credit Union. The program is ongoing and will be offered again next quarter at both schools. A graduation ceremony is slated for the end of the semester. These will be the first educational institutions within the Downey High School District to complete the program.
“Every year, millions of young adults in the U.S. declare bankruptcy because they lack the skills to navigate their finances,” said Moghaddam. “Financial Partners Credit Union believes it is our responsibility to help youth in our own backyard be financially successful. Hopefully, we will set the stage for other schools to follow suit.”