In-School Credit Union Branch Serves GWHS Students and Faculty
Bank on it: George Washington High School students have the opportunity to combine book learning with real-world experience managing money, thanks to a credit union branch located on the Danville campus.
Students run URW Community Federal Credit Union’s Eagle branch for fellow classmates and faculty – and there are valuable benefits for all.
“We’re exposing students to numerous learning opportunities,” says Debbie Sparks, marketing director at URW Community Federal Credit Union. “We want to come in and share some financial education with the students of the community. It’s a win-win situation for everybody.”
A savings account at the Eagle branch can be opened with a $25 deposit, Sparks says. With parental permission, students have the option to open a checking account with $10. They may also apply for a debit card, and they can order checks if they have a larger checking account balance. The branch, which opened at GWHS in fall 2007, has been staffed during lunch periods and after school, depending on the availability of student workers. Convenience is one of the perks for account holders at the Eagle branch, who can make a withdrawal at school if they have forgotten to bring money for an event, for example.
Eagle branch workers selected by URW receive training during summer months before the school year starts. It is totally student-run, with teacher supervision, after training is complete. Two seniors staffed the branch during the 2008-09 school year and also worked at URW after school. Sparks hopes to add a third student, as well as allow juniors take part, for the 2009-10 school year. Students who work at the branch receive one elective credit.
“It really is a golden opportunity for young people to learn the real-world concept of using a bank,” Sparks says, “so when they’re out of high school, they don’t have this learning curve to go through. They gain valuable experience in a job venue.”
Mary Beth Jordan worked at the Eagle branch during her senior year, 2008-09, and it solidified her career choice.
“I love my job here,” Jordan says. “It’s a job that keeps me on my toes, and that’s what I’ve always wanted. It’s a really great experience. I wanted to go into accounting, but I wasn’t sure. Now, I’m absolutely positive.”
In addition to having the branch at GWHS, URW is committed to improving students’ financial knowledge in other ways, Sparks says, such as a high school program on how to buy a car and more basic financial education for elementary school students.
“We have our hearts set on giving back to the community that has been so good to us,” says URW CEO Cheryl Doss. “The organization as a whole is very community-minded.”
Story by Anne Gillem
