Fairbanks, Alaska, April 1, 2019 – MAC FCU presented a check for $10,000 to the Financial Reality Foundation.
The Get REAL Financial Reality Fair, a program provided by the Financial Reality Foundation, is an interactive program that allows students to make budgeting decisions (and mistakes) in a fun-filled, interactive learning environment. The event is a two-hour simulation, specifically designed for high school seniors where they make real-life choices about a post-high school career and how to stay within budget while paying for necessities such as housing, food, and transportation to name a few. Along the way, needs versus wants are tested as community volunteers sell vacations, puppies, hot tubs and many more impulse spending items that can have a major impact on a budget.
The Financial Reality Foundation partners with local credit unions like MAC Federal Credit Union, providing them with a turn-key reality fair package that makes it possible for the credit union to host these fairs at local high schools. In a collaborative effort, the foundation and credit unions work with their own staff and community partners to provide the event for students in their own schools, during their school day. The concept of using community volunteers and school resources has been highly successful. It reduces costs and meets students where they are. It ensures a better turnout and their minds are receptive to learning. Budgeting is a topic most relevant to high school seniors at this stage of their life, making real-life application foreseeable. By providing the Get REAL Financial Reality Fair program to the schools annually, every student will get an opportunity to participate when they become a senior. It creates an eagerness for lowerclassman to go through this eye-opening event in their future.
“MAC Federal Credit Union wholeheartedly believes in the mission of people helping people and is excited to be a part of the Financial Reality Foundation’s Get REAL program for students in Alaska. We believe this important program expands accessibility to our youth by providing innovative and real-life financial education training that is so desperately needed in our communities. In return, students enter adulthood with a much better grasp on the challenges that lie ahead and have the necessary tools to adapt and succeed,” said CEO Angela Head of MAC FCU.
MAC Federal Credit Union has been providing the Get REAL Financial Reality Fairs to schools in the Fairbanks, North Pole, and Delta Junction areas since 2015. Nearly 700 students have graduated with the revelation of budgeting, the importance of savings, and balancing their wants vs. needs.