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New PBS Show Teaches Kids How to Make, Manage Money
Biz Kid$to do for financial literacy what ‘Bill Nye’ did for science.
America’s credit unions are the exclusive underwriters.

As state Legislatures and the U.S. Congress discuss the importance of financial literacy—or the lack of it—in the everyday lives of most Americans, a few organizations have proactively taken steps to reverse the troubling trends by providing money management tips to young people.

According to Biz Kid$ Executive Producer Jamie Hammond, the ultimate goal is for the program to do for financial literacy what Bill Nye did for science.

"When the 71 million young people who make up Generation Y begin driving America’s economy, it will be too late to address with them the need for financial literacy. However, it’s not too late to start with America’s youth," said Hammond, a producer of eight PBS series. "Biz Kid$ will be one of the most effective tools for engaging kids to care about their financial futures."

The need for and desire by young people to get financial education is obvious, and most parents believe that schools provide classes on money management. Unfortunately, the overwhelming majority of schools are not providing financial literacy education. JA’s BizKid$ will help parents and kids start talking about managing money.

Biz Kid$ will boast a JA developed curriculum and include interactive DVDs, seminars, a strong web component and business start-up kits that help make it the first national, comprehensive media and educational property on financial literacy. 

With the long-range plan that this program become the cornerstone of a broader business education campaign, Biz Kid$ will help launch a new generation of business-savvy, socially conscious kids. These young people will know and understand the difference between debit and credit cards, care about the impact they make on their community, and be able to turn their passions into a business.

A partnership for the greater good
JA Worldwide, America’s Credit Unions and Biz Kid$ producers all recognize that there is a great need for financial literacy training in the United States. They also know that by working cooperatively together, the potential of this project can be fully realized.

"Mutual passion for empowering young people to succeed, and the recognition of the national scope and potential long-term reach of Biz Kid$ are what drew us together in the partnership," says David S. Chernow, president and chief executive officer of JA Worldwide. "Biz Kid$ will open even more doors to schools across our country and expose a generation of students to the credit union core values of self-help and social responsibility, while instilling critical financial literacy skills that are important to JA Worldwide."

According to CUNA President Dan Mica, Biz Kid$ is an excellent opportunity for credit unions to partner with JA to reach millions more children and families who need financial education.

"America's Credit Unions are proud to be the underwriters of the BizKid$ financial education series on PBS," says Mica.  By bringing the BizKid$ program to elementary and middle schools, and teaching the NEFE curriculum in high schools, credit unions are well positioned to provide world-class financial education to the next generation of American entrepreneurs."

America’s Credit Unions—a coalition of credit unions, credit union leagues, credit union foundations, affiliated system organizations and service providers—are the sole underwriters for Biz Kid$. To date America’s Credit Unions have invested funds totaling $2.6 million, which is being used for production funding, curriculum and website development, and distribution of the program.

"Biz Kid$ became a reality because of the tremendous support of JA Worldwide and America’s Credit Unions, who share the same mission, vision and values of empowering youth through economic education," says RoxAnne Kruger, executive director of the Washington Credit Union Foundation and credit union project manager of Biz Kid$. "JA has an 88-year history of teaching business and entrepreneurship in classrooms. The educational goals of Biz Kid$ will be fully realized through JA Worldwide’s network of volunteers."

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Who is the intended audience and how will Biz Kid$ reach it?
The target audience for Biz Kid$ includes upper elementary and lower middle-school students. However, anyone interested in financial literacy and business education can learn something from this program.

Each week, the show’s kid hosts meet at The Vault, a hip, high-tech Internet club for all ages, to share and exchange information on how to be a Biz Kid. Within the setting are different performance areas, including a lounge area, juice bar, and workstation pods.

The three main elements of the show—direct education, comedy sketches, and real-life profiles—work in concert to support the varying learning objectives of each episode. By utilizing elements of direct education with offbeat illustrations, unique characters, animation and music, Biz Kid$ is a show that will appeal to both kids and their parents.

How did America's Credit Unions and JA Worldwide become involved in Biz Kid$?
Like all things successful and innovative, Biz Kid$ began as a big idea. A Biz Kid$ producer made contact with the Washington Credit Union Foundation (WCUF) in the spring of 2005. The League pitched the idea to Washington’s credit unions, who became immediately interested. JA Worldwide became an interested partner in the fall of 2005, but when the national scope of the project became apparent, the decision to bring America’s Credit Unions into the fold was made.

Together, the Executive Producers, WCUF, and JA Worldwide introduced the concept to credit union representatives from across the U.S. at a special summit at JA Finance Park in Auburn, Wash., in March of 2006.

The project has since attracted the attention of many credit unions, credit union trade associations and foundations, affiliated system organizations and service providers as exclusive underwriters. The National Credit Union Foundation (NCUF) threw its full support behind the project with its largest-ever grant—a three-year commitment of $2 million.

With permission from the Credit Union National Association (CUNA) the group has adopted "America’s Credit Unions" as a moniker.

Credit unions represent an international, not-for-profit, financial-cooperative movement whose goal is to make their members’ lives better through economic empowerment. This begins with sound financial education.

Credit union educators already partner with JA Worldwide, the National Endowment for Financial Literacy (NEFE) and other educational program providers to voluntarily teach young people money management skills. Through the Biz Kid$ partnership, even more doors are opening to credit unions’ core values of self-help and social responsibility.

JA Worldwide uses hands-on experiences to inspire and prepare young people to succeed in a global economy. In partnership with business and educators, JA Worldwide brings the real world to students, opening their minds to their potential.

The Biz Kid$ project was a natural fit, but it was the recognition of the national scope, potential long-term reach and mutual passion to address the important need of financial literacy that sealed the deal. So, on June 22, 2006, JA Worldwide CEO David S. Chernow, Washington Credit Union League President/CEO John Annaloro, Snohomish County (Wash.) PUD Credit Union CEO and former WCUF Chairman Bob Schumacher and BizKid$ Executive Producer Jamie Hammond signed the contract that began the partnership.

Students

Adults & Parents

57% of parents put no restrictions on how their child can spend the money they are given.

62% of parents require their teens to save at least some of what they earn.

53% of parents said their children generally spend the money they earn on food and entertainment.

37% of parents said their family will have an itemized back-to-school budget.
[Visa USA, Visa USA Back to School Survey Shows Sex, Drugs and Money Management Top Issues Parents Discuss with their High School Students, August 3, 2004]


27% of Adults feel very well informed about managing household finances.

26% of parents whose children are five-years-old and up feel well prepared to teach their kids about basic personal finances.

50% of parents feel they are a good role model for their children regarding spending and saving.
[FleetBoston, Smarter Decisions With Fleet National Survey, September 2003]


70% of parents say they have spoken with their teens about credit and using credit cards wisely.

44% of the teenagers say their parents have talked to them about credit cards.

50% of the parents said they think their teens' knowledge of money management is good to excellent, but only...
20% of the teens in question agree.
[Capital One and Consumer Action, Financial Educational Survey, October 23, 2003]