Four Residential Business Community (RBC) teams were pushed to their limits to showcase their understanding of credit cards in the MSUFCU Financial Literacy Case Competition March 19.

The event, sponsored by the Broad College of Business, RBC, and Michigan State University Federal Credit Union, boasted teams consisting of 2-3 members, all of which included at least one freshman. Competing for part of the $2,500 scholarship money provided by MSUFCU, students gave a six- to eight-minute presentation in front of judges.

studentsThe following teams placed in the competition:

  •  1st place tie (each a $500 winner): Ally John and Katie Vanhaaren (both BA Business Preference ’21); Julia Ortiz and Paulina Parr (both BA Business Preference ’21)
  • 2nd place ($250 winner): Julian Buchan, John Lown, and John Nilsen (all BA Business Preference ’21)
  • 3rd place honorable mention (MSUFCU gift bags): Kelsey Grost and Rachel Mccombs (both BA Business Preference ’21)

Students were graded on their overall presentation skills, the effectiveness with which they answered the judge’s questions, and their understanding of the topic.

“While we were preparing for our presentation, we wanted to be sure we were getting our key points across to the audience while also sharing unique information that would differentiate ourselves from the other presenters. For our presentation, we spent a good amount of time perfecting the visual content and an equal amount of time verbally practicing,” said Parr.

The teams agreed on the following:

  • Establishing positive credit is essential for your future.
  • Shop around; review at least three offers before making a decision.
  • Pay off monthly balances in full and on time.
  • Set up automatic payments.

“It was awesome to see all of our hard work come to fruition like that. Going forward, I plan on being a marketing major, but definitely looking into companies along the lines of Discover. As a result, I definitely plan on taking my financial literacy knowledge into my career in the future,” stated John.