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May 13, 2014
Students at Galliano Elementary School received a lesson in financial literacy, work readiness and entrepreneurship at “JA in a Day” through a partnership between Capital One Financial Corporation and Junior Achievement of Greater New Orleans.
The daylong program combined realistic activities to help students understand all the components it takes to operate a successful business, while incorporating unexpected business surprises.
Robbie Naquin, Capital One Bank’s Tri-parish area president, said the collaboration between Capital One and JA takes place in communities across south Louisiana.
While remaining committed to core banking services, Capital One also works to provide local youth with quality education through an approach called “Investing for Good.”
“Financial literacy and money management skills are crucial building blocks for economic success as they go forward,” Naquin said. “That’s why we invest in financial literacy programs to help put individuals of all ages on the path of fiscal responsibility and economic self-reliance.”
Kindergarten, first- and second-grade students at Galliano Elementary were organized into groups to operate a fictitious hot dog stand.
Members of each group rolled dice to determine the inputs for variables such as the profit of a sale and the cost of materials. An extraordinary expense was also added to the equation, forcing students to manage their profit.
By calculating those numbers, students learned whether their operation generated a profit or loss.
“It’s neat to see how they react to it and learn about profit and loss,” Naquin said. “It gets them to see how they can make money in a fun way and helps them realize there are certain expenses they can’t see coming.”
A component necessary to complete the hard drive was left out on purpose to demonstrate to students “how difficult it is to gather all the different pieces” that go into a piece of technology they use everyday.
Naquin said student’s reactions were similar to “a light bulb going off” upon learning the consequence of one supplier delaying the completion of a product.
“It teaches them about supply chain management, our modern economy and how crucial it is to have all of your national suppliers lined up for business,” he said.
David Gelman, director of education for Junior Achievement, said the program allows students to learn by doing and uses adult situations to make students more aware of economic success in the future.
Gelman and Naquin are proud of the “proven track record” Capital One and JA have engaging with students about financial education programs and experiences.
“We are extremely grateful to our volunteers from Capital One Bank for giving up part of their day to lead financial literacy activities. By coordinating these hands-on activities related to workforce readiness and entrepreneurship, they give the students a real-world business perspective.”
Capital One employees Nadine Felarise, Jed Pitre, Robin Guillot and Capital One Tri-Parish area president Robbie Naquin volunteer as part of Junior Achievement’s “JA in a Day” program at Galliano Elementary School where students received lessons on financial literacy.
