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Committed To Education

August 12, 2016

First Source has a longstanding commitment to education – from our original founding to be exact. Staying true to our roots as the Utica Teachers Federal Credit Union, it is important to us to invest in the health of our community and that includes eduction. Education is the foundation of what makes a community thrive. This is why we have longstanding partnerships with our local colleges, helping to meet their goals. This includes funding the Trading Room at Utica College and a Nursing Classroom at MVCC, development and expansion at SUNYIT and a planned business classrooms upgrade at HCCC. All are important facility upgrades for students enrolled in higher education. If we can help to get them the training and experience they need and keep them in our area after graduation, we’re all about that cause.

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Getting Started: Teaching Community Kids Financial Skills

August 1, 2016

Happy students in class

First Source, initially founded as Utica Teachers Federal Credit Union in 1938, has deep roots in education, so financial literacy is very important to us. When people learn good financial habits at an early age, they benefit throughout their lifetimes. That is why we’ve offered the National Endowment for Financial Education (NEFE) program for many years. We also now sponsor the Banzai Financial Literacy Program, along with a dedicated Schools Relationship Coordinator, to help students learn to spend and save wisely. The program serves middle and high school students, and a new program for elementary students will be launched later this year.

The curriculum includes lessons in written and interactive online forms, and takes students through real-life adult financial scenarios where they “choose their destination” as they go. From navigating taxes to paying auto insurance, they learn skills they can use in their lives as they become financially more independent.

Track and manage their money, make financial trade-offs, practice discipline, and make sound financial decisions. When we visit the class, we show them how to build and maintain credit, the pitfalls of revolving debt, and offer a real-world perspective that (we hope!) students will carry with them.

The online learning center also offers relationship builders for the students. Once their course is completed, if they open a new First Source youth account, we will deposit $10 in their savings!

Our biggest reward is the thanks we get from teachers and students.

Teachers Say...

Thank you so much for your sponsorship of the Banzai Financial Literacy Program in local schools! This month I had 115 students in my 7th grade Home and Careers classes complete the Banzai program. I liked how Life Scenarios presented real-world financial situations and budgeting decisions that students will face in the near future.

During the last 2 weeks of school when it’s difficult to keep students’ attention, the Banzai program engaged my students in the online curriculum, and had them asking excellent questions. Many of them were excited to have me fill out their completion certificate to take home to their parents, and one student even brought his into First Source to open an account! Thank you for sponsoring this valuable life skills curriculum for my students. Many Thanks!

– Mrs. Kristy Aldrich, Family and Consumer Sciences Teacher Holland Patent Middle School

Thank you so much for sponsoring the Clinton Middle School! We sincerely appreciate your generous contribution and love the financial literacy program. We have had many wonderful class discussions based on the scenarios and the content that the Banzai Program has provided our students! Thank you once again!!

– Miquel Grimm

Thank you for providing the materials to use in my business classes this year. It will enhance the interactive process in my classroom. Being able to use real life scenarios to engage the students makes teaching financial concepts simple. Once again thank you.

– Terry Stanimer, Notre Dame High School

Students Say...

“I learned how to space out my money responsibly, and how to be smart with payments/paychecks.”

“I learned that financial goals are hard to achieve if you don’t save properly.”

“I learned how to keep money and use it wisely on things I need. As well as how to say no to something when I don’t have enough money.”

“I learned how to manage my bank account.”

“I realized it’s hard to manage money! It’s not just telling yourself to remember to buy this or that, you actually need different accounts/jars for different things.”

“I learned the consequences of being in debt.”

“I learned that life can take unexpected turns and that sometimes you have to sacrifice luxuries for your bills.”

“I learned to be prepared for accidents and emergencies.”

“To be honest I didn’t know much of anything about checking accounts, credit cards and managing money. Now I feel like at least I know a little more than I did before, which is good to go into the future, knowing something rather than being really confused in a real life scenario.”

If you’re a local educator and want to learn more about the program, please contact Sue Maxam at 315-735-8571 for more information.

Posted in: Blog, Posts

Meet First Source Intern Kayla Angerosa

May 8, 2013

I am currently a student at Mohawk Valley Community College, in the past Spring 2013 semester I took the buiness internship class. This is a 16 week program in which us as the students go out and intern at various local businesses. I had the wonderful opportunity of interning at First Source Federal Credit Union in New Hartford, in the Marketing and Communications department.

I have taken away so many valuable skills and gotten the chance to work on

Better Communication Skills
Data Input
Working with different Design Software
and got exposure to the office environment.

I also had the opportunity to sit in on meetings, and work on some community events. All of the things that I have worked on here at First Source are hands on projects, that i would not be able to do in the classroom. I am going to be graduating this May, and plan to continue my education at SUNYIT in the fall.

I am so grateful, and would like to thank everyone at First Source for allowing me to come and intern here! I will take the knowledge that i have acquired into all of my future endeavors!

Posted in: Blog, Posts

Young Entrepreneurs in the Mohawk Valley and the YEA Investment Challenge

April 29, 2013

dovi

Recently I had the privilege of judging a talented group of young entrepreneurs as part of the YEA Investors panel. The YEA investors Panel is a group of Business Leaders that had the opportunity to listen, judge and “invest” in young entrepreneurs and their businesses. These individuals take a full academic course designed to teach them how to take a business from idea to operation, ultimately presenting these businesses to a group of ‘investors’. Let me tell you… I was blown away with the creativity, passion and professionalism in each of these young individuals…

Two of the business concepts that caught my eye were MOTTO, as it was a business designed to get youth involved in volunteering, and also Stellar Students which had a focus on tutoring not only children but parents as well. For me it was all about the idea and passion. You cannot have one without the other, so I was looking at both to see if the idea could make it and if the entrepreneur had enough passion to make it a success.

Yasmine Mohamed’s business concept, Balloonies-which makes creative, unique and fun balloon gifts was awarded a $1000.00 investment from the panel and a full presidential scholarship to MVCC. Her business idea also finished in the top two in the Rochester regional competition and she’ll now be moving on to present to the national competition in Washington DC.

These young individuals are the future of the Mohawk Valley, and they need to be able to take their idea and make it a reality… That is what drives economic growth in our area, great ideas and passion for those ideas… As young individuals they are getting head start on that process through the YEA program.

Posted in: Entrepreneurs, Young

First Source FCU awards $12,000 in scholarships

July 28, 2010

First Source Federal Credit Union awarded $12,000 to local students pursuing their continuing education locally for the 2010-2011 academic school years.
Among the scholarship recipients were Justin Peavey, Utica College; Emily Gallagher, Utica College; Jonathan Torres, Mohawk Valley Community College; Elizabeth Warmingham, Mohawk Valley Community College; Benjamin Williams, SUNY IT; Cecilia Ludowieg, SUNY IT; Michelle Beck, USC the Business College; Benjamin Sweeney, USC the Business College; Michael Sparrin, Herkimer County Community College; Katelyn VanNort, Herkimer County Community College; and Jennifer Rougeux, Hamilton College.

Applicants were asked to write an essay of 250-500 words about how education has made a difference in their life and how they intend to make a difference in the lives of others through their schooling. Essays were reviewed by an independent panel of judges, including both First Source representatives and participating college representatives.

Since 1995 First Source FCU has awarded scholarships to deserving students, granting more than $222,000 in total.

Posted in: Utica

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