statewide fcu

These are the updates of Statewide FCU. follow along with more updates at facebook.com/statewidefcu

[statewidefcu]

My Pleasure

Over the last few years, I have written extensively about all of Statewide's products and services. I have communicated with so many of you. It has been my pleasure to keep you informed and in touch with your credit union. 

I have taken a position with another company. I am passing the reins off to the rest of the team here at Statewide. They want you to know that you should still reach out with any questions or comments that you have. They are ALWAYS here to help, and love hearing from you.

So, farewell, friends. 

-Bruce

[statewidefcu]

Stuff Those Stockings

UPDATE 2013.12.02: This event has been delayed until Friday, December 6. The kids had an event last week and sold more than they thought. They are working hard this week to get a stock of items to bring. 

Stuff those stockings with pottery this holiday season? That doesn't even make sense, does it? If you have seen our upcoming event, where some cool, special needs kids from Brandon High School will be stopping by and bringing their awesome, hand-made pottery with them, then it probably doesn't sound that weird at all.

They will be setup in our Flowood Branch lobby for a few hours Monday, December 2nd. Starting at about 9:30am, swing by and pick up a few last-minute or just-getting-started gifts for those special ones in your life. All of the proceeds go to toward their program, which allows the kids to afford some fun, educational things such as pottery. They bake these in the kiln right there on campus! 

I'm not quite sure what all they will be bringing, but in years past, items have included business card/recipe holders, bowls, spoon rests and more!

See you then!

[statewidefcu]

2013 MSU Alumni Golf Tournament

[UPDATE 2014.01.03 Link under the words "student scholarships" and "over the past 7 years" shows some of the students that have been helped in the past 2 years by the scholarship this event bolsters.]

Each year, Statewide FCU participates as a sponsor of an event that we feel makes a difference in the Starkville community. That event is the MSU Alumni Golf Tournament and it happened a few weeks ago in October. 

Ok, so right about now you're thinking, "How does a golf tournament make a difference in the community."

A few years back, Dr. John Forde, Dean of Communications Dept at Mississippi State University, organized a golf tournament as a way to raise money for student scholarships. Money raised by the players of this 4-person scramble, as well as from the sponsors, is used to help students attend Mississippi State University focusing on Communications as a major. 

Many students have been helped over the past 7 years, simply by people coming together around this common goal. Why not throw a little fun into the mix while we are at it. 

Keep up the great work, Mississippi State University! We are very glad to be a partner!

[here are a few photos from the tournament. You can see more over on our Statewide FCU Facebook Page]

[statewidefcu]

Tshirt Success

A few weeks ago, we started a Tshirt campaign, raising money for Making Strides Against Breast Cancer. We wanted to do what we could to help this charity. For this campaign, we were offering some Limited Edition Making Strides Tees for $15, and over $4 from each shirt went to the charity.

How this got started is I called up a friend and graphic designer and asked if he wold be interested in designing a shirt for the cause. I explained to him that we did not have money to pay him, but he still agreed to do it. He was ecstatic about the idea of helping a cause like this, so he donated his design time. I hit him up at a very busy time of the year for him too, so it was great that he still helped out. We really appreciate his dedication. (You can find his information on his site here.)

He really did a fantastic job on this shirt design. Also, the folks at teespring.com were more than helpful through the whole process. They were so flexible and even allowed other products such as hoodies, tank tops and long-sleeved tees to be sold from that campaign. We only sold the tshirts from the branches to keep confusion down, but some members visited the site on their own and ordered one of these other products. Teespring even kept the same "profit" margin on the other products so that we could give the same percentage to the charity. 

This campaign was a real success, raising $475 for the Making Strides Against Breast Cancer cause! We look forward to seeing these shirts out in the community.

Side Note: We have had some interest from other people wanting to purchase a shirt, even after our campaign ended. Is that something you would like? Is there interest for us to open it back up for another week to sell?

[statewidefcu]

Drive Thru Hours Change

For years now, two of our branches have had extended hours for our drive thru. We will no longer be offering these extended hours after August 16th, 2013. After that day, the hours of operation for all branches and all lanes will be as follows:

8:15AM - 4:45PM

We have a great many other ways that we can serve you. We want your money with us to be accessible, and we have many services that help aid that accessibility. 

eBranch. Your one-stop shop for all things Statewide online. From here, you can check your balance, make transfers or even pay bills...all for FREE!

mobile banking. Everything you need...right in your pocket. We have a Statewide FCU app for Android, iPhone and BlackBerry. Get text alerts and even pay your bills...right from your phone!

direct deposit. Get your employer to do the work for you. Talk to your payroll office about moving your direct deposit to Statewide.

atm. Brandish your FREE debit card at nearly 30,000 FREE ATM's nationwide. [check out our mobile app to search for the nearest ATM location to you]

[statewidefcu]

How A Tax-Exempt Credit Union Helps You

How does a tax-exempt credit union help you? Let's start by first talking about some policies and just what tax-exempt means exactly. 

Since the inception of credit unions in the United States in 1909, they have been tax-exempt, meaning that they do not owe taxes on things purchased for the business or for the land on which they reside. Also since that time over 100 years ago, credit unions have played an important role in Americans' financial lives. The biggest reason? They are member-owned. As member-owned, cooperatively controlled financial institutions, credit unions truly exemplify the self-help spirit of America. 

Income generated by credit unions over and above their operating expenses goes back to their member-owners in the form of dividends or into retained earnings to fund future endeavors and to provide safety and soundness. Income that would be greatly reduced if credit unions had to pay taxes. Having that tax-exempt status is important, because credit unions have no other way to generate capital than through normal operations. This is not the case with banks, which can raise capital in a number of other ways. 

Many of the banks have recently been lobbying Congress to do away with credit unions' tax-exempt status. Congress will begin holding hearings later this summer on which, if any, federal tax exemptions to allow. Their goal is to start with a "clean sheet of paper" in determining which exemptions should be discontinued. A worthy goal as far as the national budget is concerned, but one that could be very detrimental to credit unions.

At this point, you're thinking, "So, credit unions would lose some of their income. So what? What would that mean for me? How would that affect me?" 

Many things will change if this takes place. Services that we are now able to provide for free or for a reduced cost will become items that we will have to charge for. Loan interest rates will increase. Savings rates will decrease. All of the extra costs will be passed along to you, our members. If the tax exemption is done away with, it is estimated that some $30M+ in benefits will be lost by Mississippi credit union members alone. I don't know about you, but to me that is a lot of money.

I think I have answered your questions of, "So what? What would that mean for me?" Now, let me tell you what you can do about it. Visit any branch through July 23 and sign your name thrice (that's three times) to our "Don't Tax My Credit Union" cards. We will separate these and send one to each of our three Congressmen, with your signatures on them. Mississippi has a goal of sending 50,000 of these cards to Congress, so please be a part of that. Also, you can visit a special site that was setup so you can send an email to the Congressmen. 

We want to be the place that saves you money and provides you with safety and stability for many years to come. We want to stay a tax-exempt credit union, because, as I've outlined above, a tax-exempt credit union helps you. Send a clear message to Congress..."Don't Tax My Credit Union!"

[statewidefcu]

A Wish Granted

While on a flight the other day, I was observing people. I like to people-watch. There is much you can learn from watching people. You can see how they interact with other people and situations around them. Some of these people were yawning...some reading...some interacting with their families and some just keeping to themselves.  One of the people with me had never flown before this trip. Think back, it can be a scary, exciting, unknown and exhilarating experience. It is hard for me to remember, as the case might be with you as well, because it was very long ago that I first flew as a kid.  While contemplating this, it hit me...I take the things that happen on a flight for granted. I take for granted that I know you will get smashed downward into your seat as the plane takes off. I take for granted that you can turn on your individual air vent, easily regulating your temperature. I take for granted that the plane might experience turbulence, causing your stomach to leap into your throat. I even take for granted all of the safety items that I have knows about for years. I mean, I know exactly how the seatbelts work, the oxygen masks (even though I hope to never actually NEED to use them), the tray table, drink service and more. It is nothing new.  For the one with me new to these things, there were a lot of questioning looks. I had to stop, remember that I was in that very same position years ago, and remember that someone helped me though it. So, I explained a few things and helped her to know the process of how things would happen. She was nervous about flying, so anything that she could know to expect would help her anxiety.  We need to do that from time to time. We might be experienced with whatever task we are doing, but look around you. Is there someone that is unaware? Are you taking for granted something that you could help them with? How about asking a friend or family member if they are a member of Statewide FCU already and if not, help walk them through the process and any questions they have? Take that extra moment and lend a hand. 

[statewidefcu]

A Cooperative Meeting: Day 2

Last week, I told you about A Cooperative Meeting: Day 1. It was all about the start of the Mississippi Credit Union Association's 76th Annual Meeting and Convention in Biloxi. Now, on to Day 2...

I awoke early, to take in the sunrise shimmering off of the bay on the backside of the Beau Rivage. There was a long, thin island just past where our hotel was, and beyond that, the Gulf of Mexico. The water was calm this morning, as not much marine activity persisted. 

Away I went, on a mission to meet up with other Statewide FCU employees and board members for a private breakfast. Our data processor, the ones that make sure we can process all of your transactions when needed, EPL, was the gracious host of this breakfast. When I reached the table, I got bacon vision. You've heard of tunnel vision? Well, it's like that, but with bacon. I digress. 

Then, we were off to the first sessions of the day. In years past, there has been a general session to kick off the day, and then everyone splits up into smaller, break-out sessions. Not this year. They were all going to be in general sessions, with everyone in the same large meeting room. 

The first speaker was from CUNA Mutual Group, instructing us on some technological trends that we will be seeing in the near future, if we are not already seeing them. Nothing was all that surprising in this session, even though there was some really good information in there. You see, Statewide FCU keeps up with many of the trends and technologies that help your credit union to stay among the best. It is important for you to know that. Many of the things he mentioned, we are already doing. I will pass on a quote from him:

"View payments as essential to your members, as many other companies are. Payments are used everyday, so they must be fast, and easy."

How often do you make payments? What is your preferred method of payments...mobile...online...in person? (take a moment to comment)

Next, we heard from the hilarious Marshall Ramsey. His outlook on life was a great eye-opener for all of us. He recently fought and won a bout of skin cancer, and it has totally changed how he views the world. He is still just as cynical as ever, but that is what we all love about him. The way he pokes fun at serious issues reminds us all that we can find humor, even in hard times. If you are not familiar with his work, go take a look. You won't be disappointed. 

This is the part where I skip ahead, so as not to lose you...

lunch

talking with coworkers

another couple of sessions

snack break

The final session of the day was from Patrick Adams. It was called "Playing Hide and Seek with the Future," and boy, was it good. His basic premise was that too many times, credit unions hide from the future, rather than actually seeking it out. "There is a reason the windshield in your car is bigger than the rear view mirror. You're supposed to be looking forward. There is a reason a hospital gown has a lot more in the front, and not so much in the back," Adams said. His humor, much like Marshall Ramsey, is a very effective way to get his points across. This session really got me thinking, "Do we seek out the future enough?" Ultimately, I would have to say that we do a good job of that here. We, as a management team, are constantly listening to new ideas, trying to tweak our processes and engaging the membership (you) so that we are purposefully seeking out the future. It is how you are best served, and it is the best use of your money.

Below are a few shots form the event, showcasing some of the smiling faces of Statewide FCU employees and board members. Each one of these people puts a lot of effort into what they do at work, so that your credit union experience is the best that it can possibly be. 

[statewidefcu]

Twice the Chance

There is a way for you to have twice the chance of winning a huge pot of cash during our Credit Union Colossal $50k Cash Giveaway (we had to make the title a mouthful to convey the double fistfuls of money you could win).

In a previous blog post, I announced a referral campaign that Statewide FCU was sponsoring. The details of the campaign were listed, including how to pick up your referral cards and where to have the people you refer to join Statewide return them. However, the detail about how you can get twice the chance to win was not fully fleshed out. 

So, here it is. After you visit a branch and pick up your referral card, you take them to friends and co-workers that you think will become a member of Statewide. This is not a difficult or expensive process. It merely takes $30: $25=stays your money as deposit in the account & $5=one time fee for processing and paperwork. It is also important to note that the reason I mentioned "friends and co-workers" is because they are likely eligible to join Statewide FCU. At this time, everyone is not eligible to join. We have certain groups that, if you work for them, you are eligible...as well as any of your family members. We have a TON of these groups though, so there are many ways to be eligible to join. Plus, if you are eligible to join because of your employer, and smartly did so already, that means that your co-workers can as well.

So, we are to the point in this story that you have come in to one of our branches, picked up some referral cards and are passing them out to your co-workers. When you do, be sure to encourage them to open a completely FREE checking account or get a new loan with us AT THE SAME TIME, and another referral card will be filled out for you and placed in the monthly drawing. That's right...each time one of the people you refer opens either a new FREE checking account or loan with us at the time of joining, you drastically increase your chances of winning loads of cash!

Now that you are pumped up and ready, refer some great people to us...we know you will!

[statewidefcu]

A Cooperative Meeting: Day 1

A busy morning ensued, responding to emails, and changing a few things on the website for members. Then, I jumped in the car, grabbed some lunch on the go and headed south toward Biloxi. It was a sunny Thursday and it was off to a bustling start. What was in Biloxi? The 76th Annual Mississippi Credit Union Association Meeting and convention at the Beau Rivage. That's what. 

We arrived at about 3:30 on Thursday and the hotel check-in line was about as long as it always is. There must always be a steady stream of demand for rooms around this time of year. I can think of a couple of reasons the Beau Rivage has that demand: 1. The pool..... 2. Beautiful rooms overlooking the water and Biloxi. 

Why was it important that some of us go to this Annual Meeting? The Mississippi Credit Union Association is our advocate, as credit unions in this state. They fight for us in Washington and keep us abreast of any situations and trends of which we need to be made aware. They are in our corner, ensuring that we are champions, so that we can keep helping our members win with their finances.

Five O'Clock rolls around and it is time for the actual business meeting. The state of the association's financials and some other important facts are presented, as well as some formalities. Here are a few facts they presented about credit unions in the nation, and more specifically in Mississippi, that you might find interesting:

Membership in Mississippi credit unions increased 3.9% in 2012

There are a total of 7,070 credit unions in the U.S.

There are 85 total credit unions in Mississippi, which is 1.2% of the total national credit union share. That is pretty big!

Mississippi credit unions are the 3rd highest well-capitalized credit unions in the nation. 

Some of these stats speak very well for Mississippi and the credit unions operating here. On so many lists, we are at the very bottom of the nation. Well, this is one that we do quite well at. What it means is that Mississippi credit unions are quite healthy financially. Another stat, not given at this conference but still notable, is that Mississippi is the 3rd most charitable state in the nation. That is something to be proud of, because we certainly are not the highest in salary. 

Some awards were presented, including the "Most Charitable" award given to the credit union that raised the most for Credit Unions for Kids. For the past 3 years, that has been Statewide FCU, but this year, it went to Jackson Area FCU. We love that CU4Kids was still helped, and we still had a big part in helping them, but we want to be back up on top of that ranking. You can help us get there by utilizing our Skip A Payment program. We do not keep any of the voluntary contributions collected through the Skip A Payment program, but rather pass them all on to Credit Unions for Kids. Note more of the details of that program in our previous blog post. With your help, I know we will reclaim this title!

After the business meeting was over, we all congregated in the exhibit hall, with all of the different sponsoring vendors. Heavy hors d'oeuvres were served, and everyone was encouraged to walk around, mingle and talk to the different exhibitors. Some of the vendors there had prizes you could win, so as to entice people to their booth. So many great vendors were there, and the conference really could not happen without their support. 

I helped with CUNA's Southeast Management School booth, to educate people curious about this school. Many people came by to talk about this accredited, graduate level school that takes place at the Terry College of Business at the University of Georgia. I am proud to say that I will be finishing my 3rd and final year next month, as well as graduating. It has been a great experience. We have many graduates of this program here at Statewide FCU.

It was a great first day of the convention, and Day 2 promised to be even more jam-packed with events. [look for our next post about Day 2 coming soon]

[statewidefcu]

Skip A Payment, Help A Child

There are a few times during the year that cause a little tighter of a squeeze on your budget than others. Some that come to mind are around graduation time, if you have kids, summer vacation time and Christmastime. Well, the first two can fluctuate, depending on the age of your children, and when you choose to take your summer vacation, if at all. That's good, because we are flexible too. Christmas is the same time each year, so it is relatively safe to bet that you will need an influx of cash when that gift-buying time of the year stampedes at you like a herd of longhorns. 

Given that the average American household spent about $750 on gifts this past year, you need to plan for that. I know this example is not from 2012, but rather from 2011, but it is a good infographic and shows much of what was spent. From my research, 2012 Christmas spending was just about along the lines of 2011 spending. There are a number of ways you can plan for this, and I will outline them below. 

Briefly, I will touch on our Christmas Club accounts. They are basically a savings account that you set aside for collecting Christmas money all year, and then withdraw the funds to purchase your gifts. If you think about it, all you have to put away is $62.50/mo, starting in January, to get to your goal of the $750 average. That's not much at all. Most of us can do that...and it would sure make things easier. Now that we are almost halfway to Christmas the next point might be more pertinent for you.

We do have other options to help ease your stress. We offer a "Skip A Payment" program that allows you to skip one of your loan payments. We offer this twice during each year...once during the summer and once again during the winter. This year, the months we are offering the Skip A Payment program are June/July and November/December. For example, you could skip either your upcoming June or your July loan payment, in exchange for a voluntary contribution of $20 to Credit Unions For Kids. Credit Unions For Kids is a national charity that works with children's hospitals. The one that receives the benefit here in the Jackson area is the Blair E. Batson Children's Hospital. We actually do not keep a penny of these funds. All of the money that you contribute, you can contribute more than $20 if you so choose, goes straight to the charity. 

You really get the benefit all around. Let's recap:

You need money for something

Voluntarily contribute to Credit Unions For Kids

Participate in Skip A Payment program

Skip loan payment and have that cash

Buy what you need with the cash

Rest easy knowing that you contributed to a great cause, while helping yourself too

We have a page about this on our website. From there, you can download the necessary document to skip a payment. There are three ways you can get into the Skip A Payment program after you download the document, fill it out and sign it:

Fax

Mail

Drop by any Statewide FCU branch

Please remember that we must receive your form, by whatever method, at least 10 days prior to  your payment's due date of the month you're trying to skip. There are a few other rules and details that you can find on the form, so please read them carefully.

Well, go on, now. What are you waiting for? Get on with your summer and Skip A Payment!

[statewidefcu]

Burgers for Carter

I was looking for something special to do for the Lending Department, headquartered here at the Flowood Branch. They have been run ragged, making loans for all of you wonderful members. Don't get me wrong, I don't say that in a bad way...they love to be busy. They helped us to do more loans for you last month than we have in a while, and we wanted to recognize all of their hard work.

That brings us to last Friday. It was brought to my attention that there was a benefit happening last Friday for a little boy, Carter, with O.E.I.S. Some volunteers had partnered with Mugshots to provide burger lunches when you donated toward his medical costs. In fact, Mugshots was donating half to Carters family. Mugshots is known for having great burgers, and we always like helping people in the community like this, so it was a win-win. 

They were heading up this endeavor at the Crossgates Pool, because many involved were doing so through the nearby Brandon Bulldogs (Brandon High School). We got the order form to them a little bit late, but they were appreciative of the 16 orders we placed. They said they could deliver, but a few days previous, I determined that I would just go pick up the burgers, since we were a late turning in the form. I just didn't want to over-burden their operation. We originally wanted to have the burgers by 11:00 AM so that our folks that take their lunch break earliest could still take part. However, they informed us that Mugshots was already booked to the capacity that they were able to produce in that hour. Therefore, it was decided that I would arrive at noon, and pick up everything. 

The day of the event came, and what a messy and cold day it was. I'm sure that all of these people volunteering were not counting on that, nor were the Mugshot's faithful that were trying to keep the grills hot enough to crank burgers out to the public. In fact, that very issue was holding them up. As it turns out, the grills were cooling off too fast because it was only 51 degrees outside...and raining. People that had ordered were standing in line in the rain, myself included. I don't even think that many people would have been there, if not for who it was benefiting. You would not have known that the weather was bad, by the numbers that turned out for this event. 

By the time I loaded up two soggy boxes (just the boxes were soggy, not the chips and drinks) of chips and drinks, and waited for about 45 minutes for 16 burgers to finish cooking, I was quite soaked. I did not get back to the office until 1:00, so those that had waited to eat a burger were ravenous by then. 

The burgers were huge and delicious, and all in the land rejoiced. I'm not sure of the thousands of burgers that were prepared that day, but the number was up there for sure. We hope that little Carter can make a speedy recovery, and we wish him all of the best!

Blog update: In one of the most recent posts on the blog about little Carter, they said they surpassed their goals for this fundraiser. That is fantastic news!

[statewidefcu]

The Credit Union Colossal $50k Cash Giveaway

Remember Scrooge McDuck? You know, the greedy duck that went swimming in his vault of gold coins everyday? Well, we are doing something similar starting May 1, 2013. Except...without the greed. And the gold coins. Okay, so what we are doing is pretty much completely different than that, but I wanted to instill in you a mental picture of a lot of money. That's what $50,000 is, right, a lot of money?

Well, we have your chance to win some (or all) of that cash. Introducing, The Credit Union Colossal $50,000 Cash Giveaway. This is a referral campaign that we will have running May 1 - Oct 31, 2013. A few other credit unions are participating as well.

Here's a quick run-down of how you can win, bullet-point style:

pick up referral card at any Statewide branch

fill out your information at the top of back side of card

take to your co-worker or friend that's eligible to join Statewide

tell them where our branch is

they come into the branch and join

if they open a FREE checking account or get a loan at same time, another card is placed in "the pot" for you both

end of month, drawing will occur

your name is drawn

smile, you just won $5,000 in cash (well, you won 1/2 and the person you referred to join won the other 1/2)

hold your breath until Nov when grand prize is drawn, because your name will be back in for that

you win grand prize: $20,000 cash

There are a few rules that you need to know about, and you can read the Official Rules on our website to stay informed. Now, go out there and send some people to us! There is no limit on how many people you can refer, only the number of cards you can have entered from one referral. The more you refer (that join), the more chances you have to win the cash!

We will be announcing the winners over on our Facebook Page, so head on over there, "like" the page and watch for your name to show up!

[statewidefcu]

Statewide Finance Award

Last week, I took you on an adventure to Starkville High School, where much knowledge was bestowed upon the students there. This week, I'm going to tell you about the knowledge that was rewarded, just a hop, skip and a jump away in Cleveland, MS.

It was a humid day Tuesday when I was blazing the trail to our Cleveland Branch. It sits deposited between a paint store and a tire store...as solid a spot in the community as I ever did see. It made for a nice drive though...the rolling clouds...the light traffic (which is pretty standard between Flowood and Cleveland). 

Along the way, some picturesque moments were had. I determined to pull off of the road each time I saw something that was worthy of sharing. The first such time was just north of Yazoo City, at a cypress bog. This is one of my favorite spots along the drive, which I usually just observe from highway speeds. 

When I arrived in at our Cleveland Branch, I was greeted by our three lovely ladies that work there, Paige, Veronica and Kendra. I showed them how to use the new scanner that was delivered there, so that we can be more efficient in our dealings between the branches, as well as with the members.

At 5:00, we all left there, but I had just a few moments before I was due at Delta State University. So, I drove west along highway 8, seeking out some photos of farm country. I really wanted to get some photos of those new tractors with the treads on them, rather than the ones that have 4 wheels. However, I did not see any of those during this trip. I did happen across a beautiful, yellow field with a church in the distance. Also, I witnessed some silos with different backdrops. Lastly, I saw some tractors that you don't see very often. They sit very tall (pictured below) and have narrower wheels and tires than most other tractors. They are very interesting. From my understanding, these are used when crops are at their full height, and they can glide right over the tops of the grown crops. 

I needed to report to the Student Union at Delta State University at this point, for the College of Business Awards Ceremony. The College of Business did it a bit different this year, having everyone go through a dinner line, and ultimately end up at 8-top tables, in a fine-dining setting. The food was quite tasty, provided by another one of our groups, Aramark, and we all enjoyed chatting before the ceremony was underway.

As the ceremony begun, one got a sense of drive and excellence from those being honored there. It was refreshing to see all of these students that were being recognized and rewarded by choosing to be excellent in all that they do. The Statewide Federal Credit Union Finance Award is awarded each year to one student that demonstrates outstanding knowledge and understanding in the Division of Accountancy, Computer Information Systems and Finance. This student is given a plaque commemorating the event, as well as a $100 cash prize. This year, the faculty chose Brandon Baldwin as the recipient of the Statewide FCU Finance Award. I had the privilege of being able to present Brandon with this award. Congrats, Brandon, you deserve it!

I love seeing Statewide be a part in our communities. Rewarding excellence is something that we will never shy from. 

-Bruce

[statewidefcu]

Real World Simulation

Last Tuesday, I drove up to our Starkville Branch to help some of the branch personnel train on some new technology. Then, I stayed to participate in the next day's project, the Real World Simulation.

This Real World Simulation, that took place at the Starkville High School, was aimed at teaching the students some real world knowledge about finances. That's right up our alley! The materials were provided by the MSU Extension Service, as well as a few of the volunteers that day. Much of the organization of the event came from our very own Gary Allen, branch manager of the Starkville Branch.  

Different booths that the students had to visit were set up in the school's auditorium, manned by numerous volunteers. We had people there from Statewide, Regions, Trustmark, The United Way and MSU Extension Service. It was great to see that so many people and organizations wanted to contribute their time to this cause. 

The students were handed a booklet, telling their marital status, number of dependents they had, if any, and their monthly salary. As they walked around to the different booths, they would subtract each new thing they bought from their balance, in hopes to have some left at the end of the "month." There were such booths as Taxes, Transportation, Communication (cell phones, home phone and internet), That's Life (where they had to draw a card out of a bowl - some would add to their balance, and some would be unexpected expenses), Housing, Clothing and more. If the students ran out of money during their monthly purchasing, they could visit the "financial planner" and get a 2nd job or they would instruct them some things that they needed to drop in order to afford necessities. 

I heard many comments throughout the day like the following:

I'm not getting married.

I'm not going to have any kids...they're expensive.

I don't need that most expensive car. I will make do with this one.

Maybe I don't need internet at home. 

The first couple of those were obviously just them being funny, but did show a realization on a base level. They realized that the more people in your household, the quicker expenses piled up. The realizations of needing to make do with a lesser-expensive car or that they can do without something were key. That is what we wanted them to realize. You don't just GET everything that you want! You work hard for your money, and it is okay to say that you need to do without some things. 

Overall, it was a really good day, and based on the students' evaluations of the program, they agreed.