Scouts Partner with Dow Credit Union to Promote Financial EducationNovember 16, 2023
MIDLAND - Dow Credit Union has partnered with Scouting's local Heartland, Ojibway, and Shoreline Districts to sponsor the Personal Management merit badge, which teaches basic money management skills.
"Many high school and even college graduates today say they were never taught about budgeting, saving or investing," LaShanta Green, director of community relations for Dow Credit Union said. "That shouldn't be the case, and our community team is committed to investing our time and resources to ready the next generation for success. "
Dow Credit Union professionals will serve as counselors for the Personal Management merit badge in a series of online classes as well as in-person at the upcoming "Merit Badge College" at Delta College. The virtual courses are open to all Scouts ages 11-17 in the state of Michigan. District Director Jake Straub of the Michigan Crossroads Council believes that hundreds more will register for the courses at Merit Badge College.
"Dow Credit Union has been an incredible friend to local Scouting over the years," Straub said. "We are so grateful for their continued investments of time and resources for the boys and girls in our troops."
According to the Boy Scouts of America, the Personal Management badge involves" mapping a plan for your life that will involve setting short-range and long-range goals and investigating different ways to reach those goals." The badge's curriculum covers concepts like investments, loans, and insurance. Furthermore, it tasks youth with maintaining a schedule and a personal budget for 13 consecutive weeks.
"We're working with the Scouts to make this program as experiential and engaging as possible," Green said. "Our goal is to create a money-mindset experience that is impactful and memorable."
Green explained that the credit union will work to ensure the classes are comprehensive and relatable with multimedia presentations and real-world examples. Personal Management is one of 13 merit badges required for youth aspiring to attain the rank of Eagle Scout, Scouting's highest honor, before they "age out" at 18.
"I think a lot of kids put off the Personal Management merit badge until the last minute," Joshua Smith, 16, a Life Scout, said. "It's kind of ironic when you think about it."