From a press release:
Mountain Credit Union opens student run, in-school branch
Mountain Credit Union in Waynesville, N.C., has announced the grand opening of their region’s first ever student run, in-school credit union branch. A ribbon cutting event was scheduled for Thursday, February 19.
In partnership with Henderson County Public Schools, Falcon’s First Branch of Mountain Credit Union at West Henderson High School will give students an opportunity to gain real-life experience and develop hands-on cash handling and career skills. Interested students were interviewed and selected and will be trained as credit union employees. Among several duties, these students will run their branch and teach fellow students and teachers how to manage their accounts and finances.
“Student-run branches have been a staple for quite some time at credit unions near Winston-Salem, Charlotte and around the country, but this is a relatively new concept for the mountains,” said Chris Angel, Mountain Credit Union’s business development director. Mountain CU President/CEO Patty Idol added, “We are excited to be a part of this effort and look forward to this joint venture with Henderson County Public Schools.”
Educational objectives of an in-school branch:
- To create an educational environment in which young people will have hands-on experience in a financial setting.
- To increase the knowledge of today’s youth regarding money management and credit score management (establish, manage and protect their credit scores) through the use of presentations on savings, budgets, establishing credit and other financial management topics.
- To create a new generation of savers by showing the importance of setting realistic savings goals and offering age appropriate savings programs.
- To provide a supplement to current math, computer and social skills through experiences learned while working as a volunteer in the school credit union branch.
- To teach the student volunteers life-long employment skills such as organization, human relations, cash handling and teamwork.
- To introduce the importance of building a relationship with a financial institution.
- To create an experience that reinforces a strong work ethic and financial responsibility.
Falcon’s First Branch of Mountain Credit Union is located inside of the high school near the cafeteria and will be open on Mondays, Wednesdays and Fridays during lunch periods. This branch will also follow the posted school calendar and will not be open during times of exams, teacher workdays or in cases of school closure due to inclement weather.
Students and faculty can open accounts and make deposits and withdrawals during the hours of operation. The student volunteers will be available for all transactions and Mountain CU liaisons will be available for training and to make certain that accuracy and confidentiality are maintained.
For more information about Mountain Credit Union’s Student-Run Credit Union program, please contact Chris Angel at 828-667-7245, ext 2707 or marketing@mountaincu.org.
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