CAC Inspires Financial Confidence
In November 2018, we were contacted by someone from the Federal Reserve of St. Louis about their financial literacy program. Our staff met with them on several occasions, and they gave us four sessions of FREE training to implement the full program from pre-K through high school. Over the last year, we have had financial literacy classes for middle school and high school, and we have integrated the Fed's lesson plans into our reading and math programs for Kindergarten through 5th grade.
Our middle schoolers have learned about different investment strategies and will be investing in a municipal bond for the city of East St. Louis as a class this month. The middle schoolers also have a team of 5 competing in the Missouri Stock Exchange Game against other students all over Missouri. One of our high school students will serve on the Student Board of Directors for the Federal Reserve this year as well. This will pipeline her into a summer internship, scholarships for finance studies, and ultimately a job in the Federal Reserve when she graduates. She will be the first student from East St. Louis to serve on the Board. While serving, she will have one-on-one meetings with people working in the Federal Reserve, including the President of the St. Louis Federal Reserve, someone who helps shape financial policy in our entire nation, while collaborating with other students from around the area.
The Reserve also put us in contact with Scott Credit Union's CMO to start a mobile credit union for our kids to put their financial literacy lessons into action. Coming once a month, the bankers have helped our kids to open 20 savings accounts, saving several hundred dollars collectively. Our kids are excited to see them each month and are learning to set personal financial goals!
We recently that all of these initiatives and accomplishments will be put in the Federal Reserve's annual report to Congress to demonstrate their compliance with the Dodd-Frank Act! That's right! Our kids' success and the CAC itself will be mentioned to the leaders of our nation! We're so proud of what our children have accomplished, and we know that they will be financially confident for generations to come!