Exchange City, developed by Kansas City-based Experiencia, is an educational program designed to students about personal finance, business fundamentals and entrepreneurship. Housed in a sprawling 20,800-square foot learning facility in the Metro-Detroit community of Taylor, the mock city features a newspaper, radio/TV station, post office, city hall, an array of merchandisers and - thanks to the continued support of 29 credit unions, the Metro East Chapter of Credit Unions and the MCUL - its own credit union.
Prior to coming to the city, young participants receive 40 hours of classroom instruction. They learn how to write checks, manage loan responsibilities and conduct business transactions. The participants are then given the task of running the entire city.
Participating in the Exchange City program is an excellent way to improve financial literacy of young members. In fact, in the most recent evaluation study of Exchange City, NO students in the pre-test were able to answer all the personal finance and credit union questions correctly. However, after participating in Exchange City, 67 percent of the students answered all the post-test questions correctly and were able to accurately manage their credit union checking accounts!
The Exchange City program has served over 1 million students nationwide since its inception in 1980. It is expected that some 45,000 Michigan students will experience this program over the next three years. These students are future members. At Exchange City they will learn that the credit union is the place to go for financial services.
What Teachers are saying about Experiencia & Exchange City
“Students ‘lived’ the curriculum. They learned more in one day (and remembered) than possibly months of just bookwork. Great example of"‘rigor and relevance"!”
“Awesome experience!”
“Hands on application of economic concepts!”
“The experience was beyond expectations. The students got great hands on experience.”
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Regulatory Affairs
