LOC Financial Literacy Students Give Back The Farmington credit union's summer program nets $500 for local charities.
A group of students from Farmington and Farmington Hills worked hard for five weeks this summer, then gave half of the money they made to local charities.
As part of LOC Federal Credit Union's 5-year-old financial literacy program, the students met at Farmington Community Library, which cosponsors the program, with the goal of exercising their entrepreneurial skills. Maddi Carpenter-Crawford, 10, packaged catnip. And she understands what it means to be an "entrepreneur".
"It's when you own your own business, you have to pay your employees and pay for materials, and then you get to sell your product," she said.
All 27 of the students involved poured "their energy, time and creativeness" into it, said Beth Cooke, a marketing specialist with LOC. She said the students voted on the organizations that would receive their funds; the Michigan Humane Society and Neighborhood House in Farmington Hills received $400 and $100, respectively.