For Immediate Release
October 25, 2018
OTIS Federal Credit Union Makes Award-Winning Financial Literacy Program Free for Local Classrooms
JAY, Maine—Local students are getting a free education in how to manage their money. OTIS Federal Credit Union is working with Banzai, a national award-winning financial literacy program, to make the curriculum available to 4 schools in the Jay-Livermore-Livermore Falls and Fayette areas completely free.
“Banzai is a web-based financial literacy program. Kids have their own bank accounts, and they work through assignments that are based on real life,” Morgan Vandagriff, co-founder of Banzai, said. “But because OTIS Federal Credit Union is sponsoring it, local schools get it for free. More than ever, it’s important that kids develop sound financial skills to prepare them for the real world. OTIS Federal Credit Union realizes that, and they’re doing something about it.”
Banzai is an interactive, online program which aligns with state curriculum requirements for personal finance education. It has become the largest program of its kind, servicing more than 40,000 teachers and available in all 50 states.
OTIS Federal Credit Union has offered time, money, industry experience, and a variety of credit union resources to help local schools teach personal finance in the classroom. Students using the program are exposed to real-life scenarios where they learn to pay bills and balance a budget – but it’s not always easy. Students must learn to manage unexpected expenses such as parking tickets, interest charges and overdraft fees. The educational program also introduces students to auto loans, bank statements, entertainment costs, savings and more.
“Too often students get out of school and they just aren’t ready for the financial roller coasters life can give us,” Vandagriff said. “Banzai teaches students to navigate those twists and turns and come out on top. We’re excited to work with OTIS Federal Credit Union to improve financial literacy in local schools.”
Teachers interested in using the Banzai program can visit otisfcu.teachbanzai.com or call 888-8-BANZAI.
Please direct all media inquiries to Sarah Hayes, Director of Marketing and Communications, at (207) 320-4985, or email SarahH@otisfcu.coop.
About OTIS Federal Credit Union
OTIS Federal Credit Union was founded in April of 1954 by eleven local millworkers. Pooling their respective deposits of $5 each, they associated themselves as charter members of OTIS under the provision of the Federal Credit Union Act. At a time in America when obtaining a loan was difficult for the average family, the founders of OTIS sought to form a cooperative, independent financial institution operated and controlled solely by its local membership.
Since its inception, OTIS has been committed not only to providing quality financial products and services to its shareholders, but to giving back to the community. Today, OTIS is a full-service financial center offering real estate, auto, and personal lending; online and mobile banking; a variety of checking, savings, and investment accounts; VISA debit and credit cards; financial planning; and much more. OTIS serves more than 10,839 members and holds over $168 million in assets, employing 29 people from Jay and the surrounding area. The credit union is located at 170 Main Street in Jay, Maine. For more information, please visit www.otisfcu.coop or call (207) 897-0900.