SANTA ROSA, Calif.–On the Columbus Day/Indigenous Day holiday,Redwood Credit Union closed its office and sent all 700 of its employees out to teach practical financial skills to more than 3,100 high school students across three North Bay counties.
Provided exclusively to credit unions by the Richard Myles Johnson (RMJ) Foundation, the Bite of Reality program has been presented by RCU at local schools since 2013, but never on such a large scale. This year, on one impactful day, RCU sent its entire workforce to educate students at 15 Sonoma, Marin, and Napa high schools, welcoming local officials and school administrative staff to attend, the credit union said.
“We’ve been thrilled to receive many positive responses from the community about this event – what we’re calling our Day of Impact,” said Brett Martinez, RCU president and CEO. “Money management is an essential life skill for young people to learn, but because it’s not a graduation requirement, financial education differs greatly between schools. The Bite of Reality program helps fill in gaps. It also offers an opportunity to show how credit unions care and are here to support our communities now and into the future.”
Participants in Bite of Reality receive a fictional occupation, salary, spouse and family, student-loan debt, credit card debt, and medical insurance payments. Then they visit various table-top stations to “purchase” housing, transportation, food, clothing, household necessities, day care, and other essentials. The interactive program also includes a credit union station to help with financial needs if students overspend.