LOWELL, Mass.–More than 400 Lowell High School seniors got quite the reality check at Jeanne D’Arc Credit Union’s sixth annual MoneyStrong for Life Fair at the Tsongas Center. During the event, students role played themselves at age 25 and were tasked with managing their income, savings, credit cards and the high cost of self-supporting.
Students chose their desired profession and were assigned the realistic income along with credit card debt, a savings account and student loan debt. Aspiring policemen and women, veterinarians, writers, choreographers, medical assistants, engineers and more moved from booth to booth making spending decisions on life essentials while managing a budget based on their monthly income.
At each of the 13 booths, students had to make choices such as what kind of apartment they would live in, whether or not to have roommates, to purchase a car or opt for a bus pass, and which insurance plan was best while weighing the delicate balance of needs vs. wants.
“This is definitely going to be useful to me because it’s going to teach me the importance of spending money wisely,” said Brianne, one of the student participants.
“I’m glad we have this because my mom never taught me this stuff. I need this,” said Alyssa.
Students were tempted by high-cost items at the “Luxury” booth and some were also presented with unexpected scenarios at the “Reality Check” booth. There were students who lost their job, had babies or received an unanticipated bonus at work. They then had to determine how to cope with these scenarios based on the cash and credit available to them.
Alexandra, 18, was one of the students who got a reality check when she had a baby. “This will definitely make things harder for me as I go through because it’s an extra $200 a month and that’s a lot with everything else,” she said.
As the final step, students were required to visit the “Counseling” booth where they discovered whether they were living within their budgets. Many had to make changes to their lifestyles when it was revealed they were spending far more money than they were earning.
A total of 77 people, the majority of whom were employees from Jeanne D’Arc Credit Union, volunteered to assist students in their decision-making processes. Jeanne D’Arc Credit Union underwrote the cost of the event, including lunch for students and volunteers.
“The MoneyStrong for Life Fair fits in perfectly with our mission of helping people make smart financial choices,” said Mark S. Cochran, President and Chief Executive Officer of Jeanne D’Arc Credit Union. “It is crucial for students to learn the skills necessary to navigate the twists and turns of life’s financial waters. We were pleased to provide them with an innovative and interesting way of gaining some real-life financial experience.”
Separately, for the third year in a row, children in the Lowell area will join New England Patriots Alumni players on the field as Jeanne D’Arc Credit Union sponsors the exciting “Football for You” non-contact football clinic.
The one-day clinic will be coached by New England Patriots Alumni players and is free of charge to area boys and girls, ages 9-14, of all skill levels. It will be held on Saturday, May 21st, at the Cushing Athletic Complex at the University of Massachusetts Lowell from 8:30 a.m. until 12:30 p.m.
“We are thrilled to once again team up with the New England Patriots Alumni organization to offer this program to youths in our area,” said CEO Mark S. Cochran. “It is always great to see how excited the kids are. It will be a great day for everyone involved.”
Participants will gain leadership skills, learn about sportsmanship, nutrition and challenge themselves with strength and conditioning exercises. The event includes a morning snack and nutritious lunch.
“The Patriots alumni are dedicated to giving back to the communities that inspired them throughout their playing careers,” said Pete Brock, President of New England Patriots Alumni and former center for the New England Patriots. “This is a great opportunity for kids at all levels of experience to be exposed to the benefits of organized sports. We are brought here by our partners Jeanne D'Arc Credit Union, a true community champion,” he added.
Finally, despite the cold and snowy April weather, Jeanne D’Arc Credit Union held its at its new Nashua Branch.
Representatives from the John Flatley Co., NorthPoint Construction Management, the Greater Nashua Chamber of Commerce, Jeanne D’Arc Credit Union business partners and members of the Jeanne D’Arc Executive Team and Board of Directors gathered at the new location to celebrate the beginning of the JDCU’s expansion into New Hampshire.
Jeanne D’Arc is the first Massachusetts credit union to apply and be accepted by the interstate branching bill, which allows state chartered credit unions to open one branch per year in another state.
The new Nashua Branch, set to open in early Fall 2016, will be Jeanne D’Arc’s tenth branch location, and will be a full-service facility that allows better service to current and future Hillsborough County members.
At right, from left: Ashley Young, Director of Membership at Greater Nashua Chamber of Commerce, Gary Thomas, President of NorthPoint Construction Management, Michael Zieja, Senior Leasing Representative at John Flatley Company, Mark S. Cochran, President and Chief Executive Officer of Jeanne D’Arc Credit Union, George Eliades, Chairman of the Board of Directors of Jeanne D’Arc Credit Union , Attorney William Martin, Jr. of Eno Martin Donahue LLC, and Michelle Silveira, Senior Vice President and Chief Marketing Officer of Jeanne D’Arc Credit Union