Royal Credit Union testing new way to teach financial literacy

Local News

A new program in the works hopes to make learning about money fun for young adults.

Royal Credit Union is testing out a new interactive game for students, ages 17 to 22.

During a pilot testing Wednesday a group of students played a giant Monopoly-style board game. Each student rolled the giant dice to find out how many spaces to move and answered trivia questions testing financial decision making. Some topics even addressed managing your credit report, student loans, and interest rates.

The object of the game is to have the most money in the end. Prizes are awarded to winners. The program is still in its early stages of development. Wednesday was a trial run to get feedback from participants.

“We as young adults are at a very formative age. You’re going to start building financial habits, you’re going to become more financially independent from your parents so getting out there and getting these people thinking about their finances and money and I think its super cool that we’re trying to instill those habits early,” said Logan Myhre, UW-Stout Senior and RCU Intern.

Jennifer McHugh, Director of Financial Education at Royal Credit Union says this initiative is unique because it makes it easier to get students excited about making positive financial steps.

“Our financial education strategy is to really get active and engage with the students. It’s one thing to stand up in front of a group of students and lecture them. We think it’s much more meaningful and beneficial for them when they’re able to do some of that hands-on learning that’s fun,” said McHugh.

RCU hopes to roll the program out sometime in 2020. Once functional, RCU officials would visit local schools to bring the game directly to students.

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