Newsletter – July 27, 2023

August 2, 2023

Greg Dietrich 

came from Frankenmuth Credit Union this morning to talk about financial literacy and credit unions. He just completed a “Reality Fair” in which youth are challenged to simulate “living life for a month” on a specific limited income while meeting financial commitments and coping with simulated emergencies. He spoke about the importance of developing skills and experience in considering and coping with challenges, noting that 57% of American adults can’t handle a $1K emergency without a major ensuing crisis. He told of how Greenpath has used the idea of a “Driver’s Test for a Mortgage” in a similar way and told of only 1 default on a mortgage that he handled with them. Several advantages of Credit Unions (in comparison with banks) included “non-profit” and “membership” composition in contrast with “shareholder profit” and “depositors”, generally lower fees/costs and frequently higher interest rates on deposits with more influence on decision-making at the local level that can work in the users’ favor (e.g., ignoring medical debt when considering assets/liabilities).

Before the speaker rose, Mic Goulet announced to the 13 attendees the August 12 Softball Skills workshop with Special Olympics and invited volunteer support, Bill Hentgen reported on a fundraiser for Sloan/Longway (Frozen in Time) coming up on September 23, we discussed our recent collaboration with Sleep in Heavenly Peace  (see attached photo of Greg Hilliker unloading one of the 54 mattresses that Karen and Duane picked up last week), and Jeff Dennings and Cindy Sullivan reported on their meeting with Flushing Rotary, our settling up on beer tent expenses, and prospective interservice collaborations. Hole sponsorship was suggested for the upcoming Special Olympics Golf Outing (Mic Goulet already has one team registered and is willing to help another be generated by the Club) on August 6. (Let him know if you are interested.)

Miscellaneous fines were assessed before Mindy Williams drew the “5 of Diamonds” leaving the Queen and the $721 pot for another time!

Until next time, “Promise Yourself…”

Attachment 1