News & Press: Credit Union News

Mill City Credit Union Hosts Interactive Budgeting Simulation at Cooper High School

Wednesday, April 18, 2018  
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Mill City Credit Union - NEW HOPE, Minn. (April 18, 2018) - On Friday, April 13, Mill City Credit Union (CU) hosted Mad City Money, a financial literacy and budgeting simulation that mimics real life as an adult, at Cooper High School. Roughly twenty students in Ms. Andrea Morris’ special education classes participated in the simulation.

 

During the simulation, the participants were randomly assigned a family situation, career, and monthly income with which they had to manage one month of expenses, such as student loan and credit card debt. They also had to visit nine different merchant stations in Mad City to purchase a method of transportation, housing, child care, clothing, food, and other wants and needs. The simulation also included a station of “fate,” where participants would receive unexpected expenses or windfalls.

 

After going through Mad City, participants stated that they learned the importance of budgeting and making smart financial decisions. Many also stated they learned some expenses were larger than they initially thought, such as taking care of a young child and buying a home. They also learned valuable financial skills including how to write a check and track debits and credits in a check register. Students made remarks about how exciting it was to “live the life of an adult” in a hands-on manner.

 

 

About Mill City Credit Union

Mill City Credit Union is a member-owned financial cooperative helping its 22,000+ members achieve their financial goals. Anyone who lives or works in Minnesota counties Carver, Hennepin, McLeod, Meeker, and Wright, as well as General Mills employees, retirees, and their family members nationwide can become a member by opening an account or applying for a low-rate loan. Mill City maintains four metro Minnesota branches, as well as General Mills plant branches in Cedar Rapids, Iowa; Belvidere, Illinois; Hannibal, Missouri; and Murfreesboro, Tennessee. Additional information can be found on MillCityCU.com or by calling 800-284-6328.


Minnesota Credit Union Network
555 Wabasha Street N, Suite 200
St. Paul, MN 55102

(651) 288-5170
(800) 477-1034