Credit Union’s $1M Investment Helps Students Meet Financial Literacy Requirement

The $913 million First Financial Credit Union in Albuquerque, N.M., announced it has committed $1 million over the next three years to support financial literacy education for high school students throughout New Mexico.

First Financial teamed up with Stukent, an Idaho Falls, Idaho-based education fintech, to create a financial literacy program that includes simulation exercises. The program, designed to enhance students’ understanding of budgeting, saving, investing, loans, credit scores and other fundamental financial concepts, will be available to students at over 300 public and private high schools in the state. Thanks to the credit union’s $1 million investment, the program will be offered at no cost to schools, students’ families or the state’s taxpayers.

What’s more, the program is intended to help students meet New Mexico’s new requirement of completing personal financial literacy coursework to graduate high school. The new requirement took effect in the state in early February 2024, when New Mexico Gov. Michelle Lujan Grisham signed House Bill 171 into law.

According to First Financial, the program will meet the needs of New Mexico’s curriculum standards, integrating seamlessly into existing educational programs while addressing the specific needs of New Mexico’s diverse student population.

“Ensuring that our youth are equipped with the necessary financial skills is vital for their future success,” First Financial Credit Union CEO Ron Moorehead said. “By investing in financial literacy education statewide, we are not only fulfilling our commitment to the communities we serve but also contributing to a brighter financial future for generations to come.”

Brennan Summers, executive director of education partnerships at Stukent, added, “This partnership is a testament to the commitment that First Financial Credit Union and Stukent have to the students of New Mexico. By offering an engaging real-world financial simulation we can better ensure that students are prepared for their financial journey ahead.”