SchoolsFirst FCU Sponsors Bite of Reality® Financial Education Events for Students at California Schools

Sponsorship in 2024 included an event benefiting foster youth in Los Angeles County

TUSTIN, Calif., Feb. 12, 2025 /PRNewswire/ -- SchoolsFirst Federal Credit Union, the largest credit union in California and the largest serving school employees and their families, today announced that its team members volunteered to help 6,112 students from California schools at 87 Bite of Reality® events during 2024, supporting the successful financial education program created by the Richard Myles Johnson Foundation and sponsored by credit unions across the country.

The Richard Myles Johnson Foundation, established in 1958 as the California Filene Foundation, promotes financial education and advocacy to help credit unions in California and Nevada fulfill their mission of providing financial inclusion and well-being for all. The Foundation's hallmark program, Bite of Reality®, equips young adults with much needed information and context delivered through a financial education program that utilizes experiential learning for topics including car buying, home buying and household budgeting.

SchoolsFirst FCU partners with high schools and colleges to stage Bite of Reality® events for young adults, presented through interactive, hands-on simulations that present students with real-world purchasing decisions. Each student is given a persona, including a fictional occupation, salary, credit score, spouse and child, student loan debt, credit card debt, and medical insurance payments. Then they are faced with purchasing decisions, such as buying a home, transportation, food, clothing, and other daily needs. Each event aims to teach the basics of finance by having them take a "real world" test drive complete with a job, money, and the freedom to make their own financial decisions. Participants learn how to manage their finances while understanding the challenges of living within a budget.

"Students come to these events not knowing what to expect, but they leave with valuable knowledge that serves as a first step toward financial well-being," said Josh Smith, vice president, school and community relations at SchoolsFirst FCU. "Our volunteers also look forward to Bite of Reality® events, and they play a key role in assisting and advising students in making decisions as they weigh their wants against their needs."

Los Angeles County Bite of Reality® Event Benefits Foster Youth

One of the highlights of the year for SchoolsFirst FCU team members was a May 9, 2024, partnership with the Los Angeles County Office of Education to sponsor a Bite of Reality® Event for foster youth invited from school districts in Los Angeles County. Teachers and counselors from participating school districts also attended the event, and SchoolsFirst FCU partnered with the University of Southern California Credit Union (USCCU) to provide additional financial education and services for the youth.

About SchoolsFirst Federal Credit Union

SchoolsFirst Federal Credit Union is the largest credit union serving school employees, and once again Forbes has named SchoolsFirst FCU the top credit union in California. Serving school employees and their families, the organization is dedicated to delivering World-Class Personal Service and improving the financial lives of its Members. Today they serve more than 1.4 million Members with a full range of financial products and services. SchoolsFirst FCU was founded in 1934, when 126 school employees pooled $1,200 and established a Member-owned cooperative to help improve each other's lives. In 2024, the Credit Union reported more than $30 billion in assets and remains the largest credit union in California and the fourth largest credit union in the United States. For more information about SchoolsFirst FCU, visit schoolsfirstfcu.org. 

Insured by NCUA.

SOURCE SchoolsFirst Federal Credit Union