Rome Teachers FCU officially openes its Poland Tornadoes Credit Union branch - FINANCIAL-24 - FINANCIAL-24, we has prepared this article well for you to read and retrieve information in it. Okay, happy reading.

Rome Teachers FCU officially openes its Poland Tornadoes Credit Union branch - FINANCIAL-24

The Poland Tornadoes Credit Union is now open for business, and students are running it.

Eight students in grades 10-12 are interns for the in-school credit union, and they’ll be gaining beneficial financial experience that will also look good on their resumes, Poland business teacher and credit union advisor Mark Kall said. “It’s just a great opportunity,” he said.

The Poland Tornadoes Credit Union is a branch of the Rome Teachers Federal Credit Union. It is open on Tuesdays and Fridays from 11-11:30 a.m., 11:34 a.m. to 12:14 p.m. and 12:18-12:48 p.m. and is located in the former in school suspension room near the high school office.

Lorraine Goewey, branch/financial literacy coordinator for the Rome Teachers Federal Credit Union, oversees the student interns whenever the credit union is open, but it’s the students who do all the work. “I’m just here to guide them,” she said.

An official grand opening and ribbon cutting ceremony for the Poland Tornadoes Credit Union took place on Oct. 27 with John Vero, president of the board for the Rome Teachers Federal Credit Union, in attendance. The Rome Free Academy, Westmoreland, South Lewis, Canastota and Camden school districts also have credit unions through the same program. “It’s so much fun for us to be working with these young kids,” Vero said. “We love it.”

Students are able to learn more about money and become credit union members, Vero said. The interns also have the credit union’s trust to handle the responsibilities of the work, he said. “It’s a great learning experience for the kids to have about banking,” he said.

For more information, look for a credit union link under “Quick Links” on the homepage at www.polandcs.org.

The credit union can be used by any Poland student, employee or retiree. If students, employees or retirees open an account, their immediate family members also can open an account – including spouses, children, parents, siblings and grandparents.

Students who are younger than 13 would have to open a joint account with a parent, students ages 13-17 require a parent signature to open an account and students 18 and older can open an account on their own.

Students can open an account with $1, and adults can open an account with $5. Withdrawals will be limited to $50, there is no deposit limit and adults can apply for loans through the credit union, Goewey said. Additionally, adults can get debit cards, which are good at more than 30,000 ATM locations including the Stewart’s Shops location in Poland, she said.

There also is a special in place right now: The Rome Teachers Federal Credit Union will provide the first $1 for any Poland student opening a savings account between now and the end of the year at the Poland Tornadoes Credit Union.

The Rome Teachers Federal Credit Union provided the furniture, paint, computer and security cameras for the Poland branch.

Poland Superintendent Laura Dutton said school officials are hoping to teach students – including at the elementary level – the value of beginning a savings plan when young. Also, the credit union will make discussions in intermediate classrooms about concepts of principal and interest more meaningful, she said.

Elementary teachers are invited to bring their students over to the credit union for a small “field trip,” Goewey said, or she and the interns would be willing to go to the classrooms. ‘A climate of trust’

There’s another important aspect of allowing students to run the credit union, Dutton said. “A subtext of a student-run credit union is a climate of trust,” she said. “I believe it's important for our students to know that we trust them with financial roles that are most often filled by adults. We are giving them very authentic responsibility. Student workers will handle funds and will interact with community patrons. This reciprocity of trust between school adults and students is perhaps the most important aspect of the undertaking and is a reflection of the remarkable students we have.”

The eight student interns, who are required to undergo training and have already opened accounts, are Sarah Ahles, Kelsey Bowman, Peter Burritt, Andrej Fedorov Jr., Destiny Humiston, Laura Pinto, Jennifer Sergott and Mickinzie Tabor.

The credit union is set up to be safe, secure, confidential and convenient. It is insured by the National Credit Union Administration, Goewey said.

Student interns get excited about the little things that go along with the responsibility of running the credit union such as receiving the keys, counting money and logging into the account, Goewey said. “It’s fun to watch them get started,” she said.

Whether students are interning or just opening an account and depositing money, it’s a beneficial experience for them to see the money go in and grow with interest, she said. ‘More responsible’

While recently working a shift at the credit union, sophomores Humiston and Tabor talked about why they wanted to do the internship. “I decided to do this because it looks really good on college applications,” Humiston said. The experience also will help with obtaining summer jobs and handling taxes and other finances, Humiston said. “I worry about not being able to do that stuff,” she said.

Tabor agreed that she became an intern because it will look good on college applications, and she also said that it’s just something to do. “I just think it will be fun interacting with people,” Tabor said.

Humiston also said she looks forward to communicating with credit union members. “I love interacting with people – they’re so much fun,” she said. “I can’t wait to do this because it will help me with my people skills.”

The interns also had a message for students debating whether to open an account. “You should,” Humiston said. “It helps them understand the value of money more, especially with their own account.” Tabor added to the message. "It helps you to be more responsible with your money and show your maturity," she said.

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