Getting Started
Congratulations on your decision to participate in the Financially Made program, the Michigan Credit Union League’s (MCUL) MTV- inspired financial education program that turns teens into financially savvy consumers.
If your credit union is like many others, media coverage of your youth financial literacy efforts is limited to a couple of articles each year, and little or no TV or radio coverage. Youth financial illiteracy—and the unique things credit unions do to make their young members more financially savvy—goes largely unreported by the media.
That’s why we’ve created the Financially Made program—to spark media interest in how credit unions are educating their young members about personal finance.
We’ll be working with you throughout the program to secure media coverage of your contest.
Program Details
Generally speaking, there are five phases to this program.
Promotional Phase
Contest Judging and Winner Notification Phase
Counseling/Financial Literacy Classes Phase
Savings Phase
Program Wrap Up/Evaluations
I. Promotional Phase
1. During this phase, one person at your credit union should be assigned the role of "Financially Made coordinator/manager. "That person will be responsible for generally overseeing the program including marketing and promotions; coordinating media interviews with CEO or member of the executive management team; prepping interviewees on the program as needed; coordinating time and date for students to meet with financial counselors and take their financial literacy course; meeting with students from time to time during the savings portion of the program to offer encouragement and gauge progress; wrapping up the event including writing thank you notes to GreenPath and MSU Extension staff for their support of your program.
2. Next, if you haven't already done so, you’ll want to determine what your matching fund amount is going to be. You might also consider setting a minimum amount that the students must deposit into their accounts; and the frequency you want them to make their deposits – weekly, bi-weekly. We recommend that the students make weekly or bi-weekly deposits.
3. During this phase of the program, your credit union should use the available marketing materials, and any others you create, to promote the Financially Made program to your members. You may also wish to market the program to area high schools. 
4. You’ll also want to set up a page on your Web site dedicated to the Financially Made program. Click here for Web logos & verbiage ideas.
5. Your credit union should be prepared to accept contest applications and essays. You’ll also want to think about forming an internal committee who will be responsible for judging the essays and determining the winners.
6. Finally, you’ll want to begin working with Financial Education Coordinator, Beth Troost (800-262-6285, ext 453), GreenPath Debt Solutions and MSU Extension to schedule budget counseling sessions and a financial literacy class for students whom you’ve selected to be Financially Made. You should try to schedule these sessions between Dec. 1 – Dec. 30, taking care to avoid scheduling anything near the Christmas holiday. If need be, you can schedule the sessions in early January.
 The following are materials that you may find helpful for this phase. (All can be found on the Marketing and Promotions page.)
Official Rules & Guidelines
Application Packet
Print Logos
Suggested Web verbiage & Logos
Sample newsletter articles
Sample news releases
Posters
Counter card
Letterhead
Statement inserts
The suggested time frame for the Promotional Phase is Sept. 30 – Nov. 15.
II. Contest Judging and Winner Notification Phase
1. During this phase of the program, the judging committee whom you’ve appointed will judge contestants’ essays and determine the Financially Made contest winners. Once you’ve determined who the winners are, you’ll want to send each winner a Financially Made Packet that includes the following materials (all can be found on the Marketing and Promotions page.)
Congratulatory letter
Financially Made commitment form
Financially Made winner profile sheet
Budget counseling session and financial literacy class information
The suggested time frame for the Contest Judging and Winner Notification Phase is Nov. 15 – 30.
III. Budget Counseling/Financial Literacy Class Phase
1. During this phase of the program, the students whom you’ve selected to be Financially Made will meet with a budget counselor from GreenPath Debt Solutions. Each counseling session will last between 30-45 minutes. During the session, the counselor will map out a budget and savings strategy to help your students reach their savings goal. (If you have someone on staff who is a certified counselor, you need not use GreenPath.)
2. The one day financial literacy class, which will be taught by an MSU Extension Educator or MCUL Financial Education Council member, will focus on goal setting, needs vs. wants, basic budgeting (overview), saving/checking and credit. You may want to consider partnering up with another participating credit union to co-host the financial literacy training. (Contact MCUL Financial Educatioon Coordinator, Beth Troost at 800-262-6285, ext 453 or bat@mcul.org to see if there’s a credit union in your chapter that’s also participating in the Financially Made program.)
The suggested time frame for the Budget Counseling/Financial Literacy Class Phase is Dec. 1 – Dec. 30
IV. Savings Phase
1. If you haven’t already done so, you’ll want to work with each student to open a savings account. During this phase of the program, students will make regular deposits into their savings accounts.
2. You’ll want to monitor your students’ progress during this phase. Are they on track to reach their goal? Are they making regular deposits? Are they making their minimum deposits? For those students who aren’t on track, you may wish to re-connect them with their budget counselor for a second counseling session.
3. Because this phase is 4 months in length, you may wish to contact your students occasionally to let them know what progress they’ve made and offer words of encouragement/support to help them stay engaged in the process.
4. You’ll deposit matching funds into their accounts at the end of this phase.
The suggested time frame for the Savings Phase is Jan. 1 – April 30.
V. Program Wrap Up/Evaluations Phase
1. During this phase, you may want to consider hosting a celebratory event at your credit union to congratulate your students for participating in the program.
2. You also want to send thank you notes to the GreenPath budget counselors and MSU Extension educators who helped facilitate the educational part of the program.
The suggested time frame for the Program Wrap Up/Evaluation Phase is April 30 – May 15. | 
