It’s officially summer and school is out. While this should be a time of celebration for students, parents and teachers, many are already beginning to worry about the financial burden of another school year. A big source of that apprehension: the cost of school supplies.
A recent report shows that the average cost of school supplies in the U.S. is rising exponentially each year.
Last year, the average cost of school supplies for an elementary school student was about $600 and over $1,000 per year for a middle school student.
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With many families unable to afford what is essentially the cost of a mortgage payment, teachers are the ones often left footing the bill. Reuters estimates that the average teacher spends $600 or more a year out of their own pocket on things like pencils, Kleenexes and notebooks for their students.
Thankfully, credit unions have stepped in to help out. Last fall, CO-OP Purpose partnered with Yoobi to launch the Back to School Backpack Bundle Drive and deliver much-needed school supplies into the hands of students across the country. Participation in the Fall campaign from our credit union partners was so high that we managed to sell out of backpacks within a few months and together we have made a difference in the lives of over 1,300 students.
Genisys® Credit Union of Auburn Hills, Michigan participated in our Spring campaign in order to help make a difference in their community.
“When we launched the campaign last year, we were amazed and thrilled at how many or our credit unions clients were willing to participate,” said Charlotte Locklear, Marketing Programs Manager for CO-OP. “Giving back is in our DNA as credit unions and our clients have recognized the importance of prepping the next generation of leaders and innovators with the tools they need to succeed.”
Now Accepting Donations for the 2018-2019 School Year
We are thrilled to continue the Back-to-School Backpack Drive for the 2018-2019 school year and are looking for more participation from our client credit unions. With a $1,500 investment, you can help provide 50 backpacks full of school supplies to kids in a school, homeless shelter or community program of your choice. Included in each order of 50 backpacks is a financial literacy kit to help teachers teach their students about good money management.
How to Participate:
To participate in the Backpack Bundle Drive, simply visit the registration page, fill out your information and we’ll help you get started:
For more information on the Backpack Bundle Drive and how to get involved, contact Charlotte Locklear at email@example.com.