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High School Seniors Compete for $25,000 in Mad City Money Scholarship Event

Local High School Seniors Compete for $25,000 in Mad City Money

Mentor, Ohio, is buzzing with excitement as Cardinal Credit Union gears up for its annual Mad City Money Scholarship Competition. Running from March 6 to April 2, students from five area high schools, including Eastlake North, Lake Catholic, Mentor, Notre Dame-Cathedral Latin, and Willoughby South, will participate in this engaging financial literacy event.

What is Mad City Money?

Mad City Money is a unique competition that challenges high school seniors to navigate the complexities of adult financial responsibilities in a simulated environment. During this 90-minute in-person event, teams must manage their virtual finances by making purchasing decisions for essential items such as housing, transportation, food, clothing, and daycare while staying within a designated budget.

The stakes are high, with five scholarships of up to $5,000 available across the participating schools, culminating in a total prize pool of $25,000. Teams are evaluated based on how well they maintain a budget, aiming for an average balance of $100 at the end of the competition, in addition to their ability to submit all required materials on time.

Winning Teams and Prizes

Teams that excel in the event have the chance to win significant cash prizes—$2,250 for first place, $1,500 for second, and $1,200 for third. The competition promises a fun and educational atmosphere, allowing students to gain practical experience in money management, a skill crucial for their future.

Joe Glavan, Director of Workforce Development at Mentor Public Schools, emphasizes the importance of such initiatives: “At Mentor Schools, we believe that real-world preparation is vital. Engaging students in an exercise like Mad City Money allows them to learn essential money management skills in a compelling way.”

Glavan adds that he appreciates Cardinal's commitment to fostering financial literacy among students, highlighting the significant impact such programs have on their education.

Competition Schedule

The Mad City Money events will be hosted at different times and locations:

- Mentor High School: 9:00 AM on March 6
- Notre Dame Cathedral Latin High School: 11:00 AM on March 12
- Willoughby South High School: 9:00 AM on March 19
- Eastlake North High School: 9:00 AM on March 20
- Lake Catholic High School: 9:30 AM on April 2

The Role of Cardinal Credit Union

Christine Blake, CEO of Cardinal Credit Union, expresses her enthusiasm: “We are proud to partner with local high schools for the fifteenth consecutive year, demonstrating our dedication to financial education in Northeastern Ohio. The Mad City Money Scholarship games are a significant part of our outreach, helping to ensure that students are financially prepared for adulthood.”

Students interested in participating can find more information and sign up through their respective high schools’ designated webpages:

About Cardinal Credit Union
Headquartered in Mentor, Ohio, Cardinal Credit Union has been a trusted, member-owned financial cooperative for over 72 years. It offers a wide range of banking products tailored to meet everyday needs, ensuring that members benefit from lower fees and better interest rates. With services available online, via mobile app, or at their seven branches, they promote a unique approach to financial management that includes hands-on learning experiences in local schools. For more details, visit Cardinal Credit Union.