Worcester Business Journal

8 Giving Guide 2022 Worcester Business Journal www.wbjournal.com N ichols College in Dudley has long been known for its top-notch business curriculum grounded in liberal arts and combined with research and expe- riential learning. Just as students graduate with a strong academic founda- tion, Nichols' students also learn the value of giving back to community and the critical role philanthropy plays in life beyond the classroom walls. Beth Gionfriddo, associate director, Career and Professional Development Center, and co-chair, Emerging Leaders Program, noted that first-year students take an introductory class in which they learn the philosophy and practice of leadership. Students who wish to pursue this avenue can apply to the Emerging Leaders Program, NICHOLS COLLEGE: Students choose their own charitable adventure S ince 1909, credit unions have served as a financial resource for groups that share a common bond and otherwise would be unable to access loans. Central One Federal Credit Union (COFCU) in Shrewsbury was formed in 1952 when National Grid founded the institution for its employees. Forty-six years later, Central One changed its charter, enabling the institution to serve those who live, work, worship, attend a school or do business in 25 commu- nities within Central Massachusetts. In 2021, the credit union's scope increased again to encompass 114 communities in Worcester County and parts of Middlesex and Norfolk counties. From its inception, the credit union mission has focused on serving members, not investors; all members own equal shares, and all revenue is kept within the community it serves. As a not-for-profit financial cooperative, Central One gives back to its commu- nities through charitable giving, event sponsorships, educational scholarships, volunteer programs, and providing online and in person financial literacy to not only its members but to the community as well. In keeping with their mission, Central One has focused on promoting financial literacy in the community for the last 25 years. According to David Kaiser, Senior Vice President, Retail Services, Central One concentrates efforts on schools to help educate the youth on money management strategies and has created several programs that help youngsters build a solid fiscal foundation. Professionals from Central One bring their financial expertise to the local ele- mentary school and teach children the basics of savings. "Students act as tellers. CENTRAL ONE FEDERAL CREDIT UNION helping wherever needed: It's the right thing to do. They record deposits and make other transactions," said Kaiser. "We make them familiar with credit unions." The fourth-grade Money Trail delves deeper into fiscal transactions and involves a classroom visit where Central One staff conduct interactive sessions with students. "They learn terminology and definition of terms and how money moves through the system," Kaiser said. At the high school level, the Road to Financial Independence prepares students at Shrewsbury and Westborough public high schools for life beyond the classroom. Kaiser explained that three separate classes address various aspects of finance. The first class focuses on savings, good money management habits, how to balance a checkbook, and other responsible fiscal behaviors. The second class explores borrowing and includes the steps in applying for a loan, how to achieve and maintain a good credit score, and other essential aspects of borrowing. The last of the three classes comprises a hands-on exercise in which students form small groups and are responsible for creating a realistic financial plan. Each group is assigned an occupation with a salary and must develop a bud- get that includes a mortgage or rent, car payment, insurance, grocery, clothing, and entertainment costs. After two weeks, each group presents its budget to the class and articulates how they arrived at their decisions. "We enlist the teacher and administrators to judge the teams and select the one with the most realistic budget," Kaiser said. According to Kaiser, The Road to Financial Independence has proved to be highly successful in preparing students after graduation. Initially, the program was offered only at Shrewsbury High School through the guidance department to a select group of students. Now it has been built into the Senior year math curricu- lum so that every student can experience the program. Central One also established branches on the campuses in Shrewsbury and Westborough, providing students an opportunity to intern in the banking indus- try. Additionally, these students work in the regular branches; when working in the school branches, they receive academic credit, and when working in bank loca- tions, they are paid the same as any other employee, said Kaiser. Giving back to the community is not only done through charitable donations but also through volunteerism. The Central One management team utilizes its financial acumen and management aptitude to volunteer on boards of local organizations, helping them succeed in their growth. Kaiser emphasized that for Central One, giving back through financial literacy, volunteerism, and monetary contributions adheres to its mission of serving the community. "We just do it because it's the right thing to do," he said. n cy lists its major fundraisers throughout the year; these events typically provide the bulk of the financial resources needed to keep the doors open. Throughout the pandemic and beyond, non-profits have filled several import- ant needs by providing childcare so parents can continue to work; offering meals gratis as grocery prices skyrocket; conducting COVID testing and administering COVID vaccines; and so much more. Now the greater community has an opportunity to be a compassionate, sup- portive partner in one or more ways. Within these pages, non-profits issue their "wish lists." Readers can respond by attending fundraisers, many of which are family friendly and fun while benefitting a worthy cause. Giving opportunities throughout the year provide a chance to donate financially or through in-kind gifts and services to help organizations function effectively. Although the pandemic brought life as we knew it to a virtual standstill, non-profit organizations managed to survive, and even thrive in some cases. Some of these organizations made changes unimaginable in a pre-COVID world. The use of technology became more prevalent and necessary to conduct business as close to usual as possible. Several of these non-profits have set future goals of improving services, expanding access to care, enhancing current programs, and creating new ones. To reach these goals, these organizations need the support of the greater community. Throughout these uncertain times, non-profit organizations have been a reli- able source of inspiration, hope, and assistance. As they continue on this path, they deserve to lean on the community they have served so well. n Nonprofit Status 2022 continued from page 7

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