Old Rochester Regional High School Holds Second Annual Credit for Life Fair to Teach Financial Literacy

Seniors at Old Rochester Regional High School received a hands-on lesson in financial literacy from Scott Stephenson, Senior Vice President at Eastern Bank, at the second annual Credit for Life Fair. (Photo Courtesy Old Rochester Regional School District and MA Superintendency Union #55)

MATTAPOISETT— Superintendent Michael S. Nelson and Principal Michael Devoll are pleased to share that the second annual Credit for Life Fair was held at Old Rochester Regional High School, to teach seniors about financial literacy, on Tuesday, April 8.

The event is coordinated by Cape Cod 5 community bank together with Assistant Principal Lauren Millette. Cape Cod 5 also donated $1,000 toward the event to be used as prizes for the students.

In addition to Cape Cod 5, Credit for Life was supported by Eastern Bank and Abington Bank, with all three banks operating booths set up for the event.

“We are grateful to our community volunteers from Cape Cod 5, Abington Bank, and Eastern Bank for their invaluable support in helping prepare our students for real-world financial decisions,” said Assistant Principal Lauren Millette. “Each of the banks have expressed interest in working with our students in the past and were all excited to be a part of this experience, knowing the value for our students in learning financial wellness. Their involvement and expertise in the Credit for Life Fair empowers our students to navigate their futures with confidence and financial literacy. We are very thankful for their time and expertise.”

During the fair, students chose professions, were assigned monthly take-home salaries, then navigated online checkpoints to either accumulate savings or make hypothetical purchases, using imaginary cash or credit.

“It is plainly evident to me how the school’s leadership is committed to preparing their students for real life, in this case by emphasizing the importance of financial wellness,” said Jim Curran, Director of Financial Know-How for Cape Cod 5. “There are two things I hear at every fair: One, adults saying they wish something like this was around when they were a student. Two, students asking, how do their parents do all of this?”

The Credit for Life Fair is held in light of 2019 findings by the Barr Foundation showing that 86% of high school students say the most important skill they need
post-graduation is an understanding of personal finance, while only 30% believe their schools are preparing them on this topic. 

The booths operated by volunteer bank representatives provided students with insight into topics like charitable giving, education and training, food and nutrition, health and wellness, housing costs, furniture spending, utilities, lifestyle choices, fun activities, part-time jobs, planning for the future, transportation and more, including one table devoted to prize giveaways for the event. Students got the chance to earn extra entries into the prize giveaway by earning a Financial Fit Certificate prior to the fair.

The goal was for students to learn to live within a budget, learn fiscal responsibility and plan for the future, all while having fun.

“The focus is on basic budgeting, giving the students an idea of some of the things that are going to pop up in their lives and how to focus on good financial habits,” Curran said. “One of Cape Cod 5’s five ways of community engagement is the advancement of financial know-how, so what we want to do is meet each of these students where they are on their financial journey. I can always tell they are getting into it when I hear the students reacting to various situations, such as seeing their savings account go down when they have to pay a security deposit. It’s important to recreate the feelings, not just explain the math.”

Participants in the Credit for Life Fair included Eastern Bank, with its employees Ambra Brown, Andrew Bichsel and Scott Stephenson; Abington Bank, with its employees Amanda Anderson, Carolyn Brunette, Rachel Swanson, John McCabe, Joao Jatoba and Joyce Davis; and Cape Cod 5, with its employees Laurie Zell, Janice McCarthy, Jo Marie Pollock, Alexis Parker, Jim Curran, Ben Dewey and Michelle Mahoney.

The fair on April 8 was the second part of the Credit for Life program this year. The first part was on March 28, featuring a presentation by Jim Curran, of Cape Cod 5, covering topics including “5 Habits for Financial Wellness” and “How to Think About Money.”

Students who participated in the Credit for Life Fair said it was an engaging, eye-opening experience, providing practical insight into finances and planning for the future.

“The Credit for Life Fair was very informative and interactive,” said senior Avery Tavares. “As a student, I understand that it’s very hard for kids my age to engage in an activity when it’s not something that they picked, but this event had everyone contributing, and I did not see a single student sitting down. The financial experts were able to teach us not just financial stuff, but other helpful tips on how to go about the future. I would definitely recommend this for future classes, or anyone seeking help.”

“I had a great experience at the Credit for Life Fair,” said senior Emerson Gonet. “I learned a lot of financial information that I can use further down the road in my life. Something that I took away from the fair is that you should always put a little bit of money into your savings account every month. Also, when buying things, you should use your checking account, and you should rarely touch your savings.”

Superintendent Michael S. Nelson and Assistant Superintendent of Teaching and Learning Dr. Sharlene Fedorowicz, who both attended the Credit for Life Fair, said this event is providing crucial life lessons for Old Rochester Regional High School students before they move onto college and the working world.

“This is a subject that normally does not got nearly enough attention. But we are glad to bring it to the forefront to give our seniors an opportunity to begin to learn these extremely important life skills,” Dr. Fedorowicz said. “We’d like to thank Ms. Millette for her leadership and for coordinating this event with our partners. Without her work on this, none of this would be possible. Due to her efforts and the participation of Cape Cod 5, Eastern Bank and Abington Bank, our students were able to learn directly from financial experts about developing healthy financial habits.”

“Budgeting, saving and other lessons that our students were able to practice during the Credit for Life Fair will become invaluable skills that they will remember and put into use for the rest of their lives,” Superintendent Nelson said. “We are proud that our students got to experience this valuable opportunity to further their financial literacy. We are grateful to all of our partners from Cape Cod 5, Eastern Bank and Abington Bank for making this possible, providing hands-on, realistic learning experiences and the chance to ask direct questions to financial experts.”

###

Old Rochester Regional High School seniors interact with financial experts from Cape Cod 5, Eastern Bank and Abington Bank during the Credit for Life Fair, providing lessons on financial literacy. (Photo Courtesy Old Rochester Regional School District and MA Superintendency Union #55)

Students visited in-person booths operated by volunteer bank representatives during the Credit for Life Fair. (Photo Courtesy Old Rochester Regional School District and MA Superintendency Union #55)

During the Credit for Life Fair, students chose professions, were assigned monthly take-home salaries, then navigated online checkpoints to gain savings or make hypothetical purchases, using hypothetical cash or credit. (Photo Courtesy Old Rochester Regional School District and MA Superintendency Union #55)

Volunteers from Cape Cod 5, Eastern Bank and Abington Bank provided lessons on financial literacy to students during the Credit for Life Fair. (Photo Courtesy Old Rochester Regional School District and MA Superintendency Union #55)

The second annual Credit for Life Fair was held in light of 2019 findings by the Barr Foundation showing that 86% of high school students say the most important skill they need post-graduation is an understanding of personal finance. (Photo Courtesy Old Rochester Regional School District and MA Superintendency Union #55)