By Penny Williams, staff writer
Eagle Tribune

HAMPSTEAD—The normally quiet halls of Central School recently had the look and sound of a shopping mall, with people wandering in and out of classrooms-turned-stores, discussing purchases and wondering what the next shop had to offer.

The school’s first-graders had spent April learning about money, so the unit culminated with a morning when the first-and first and second multi-grade classrooms became “shopping central.”

Each youngster was told to bring about a dollar in change to spend in classrooms that had been converted into a book store, a candy store and an entertainment store, among others. One class had a change-making operation for parents and students.

Students priced the items they had for sale, took in the money and make change, if necessary, at the various shops. Students in other grades, as well as family and friends, were also allowed to shop. The money collected went to charity.

The next day, the first-graders heard about a different application for money—saving instead of spending. Three employees of Northeast Community Credit Union in Haverhill, Mass., talked to them about how a savings account works.

One of the employees, Hampstead resident Elizabeth Hannah, who has a child in the Central School, talked about the freedom that saving money offers, allowing for things like a trip, college tuition or contributing to a charity.

The children were each given a quarter holder and a quarter, and encouraged to bring the cards to the credit union when they were filled to open savings accounts.

Hannah asked if any of the children had seen something at the shopping mall the day before they wished they could buy, but didn’t have enough money for. She explained if they saved their money, they might be able to get that item later on.

“We wanted to introduce the children to the concept of savings,” said Peter Di Benedetto, treasurer and CEO of Northeast Community Credit Union. “Now that the children are beginning to understand the value of money, we thought it made sense to show them that saving is a way to plan for the future, even if we demonstrated it by talking about saving for a special toy. Plus it is great to watch their eyes light up when we talk about how their money will grow.”

The students listened to suggestions on how they might earn money to put into a savings account and how they might save part of their allowance for such an account. Hannah explained how the money was kept safe at the credit union and how it would row, but still be available to them if needed.

Hannah was accompanied by Carmela Conley, member services manager, and Linda Prue, branch manager.