School credit union offers student training, experience in financials - FINANCIAL-24
Walk into Fairview High School’s library around lunchtime and you will find a small but fully-functioning financial institution being operated by students.
Eagle Street Credit Union, sponsored by Ashland Credit Union, is now open in the school, allowing students and staff to open and access checking and savings accounts and even take out loans throught ACU. Christmas and vacation club accounts can also be taken out.
All 12 students involved in the credit union are in the school’s financial services class and are split up to handle new accounts and marketing and to take on the roles of tellers and loan officers.
“Everybody is cross trained too,” said financial services teacher Angie Reihs at the credit union’s grand opening on Tuesday. “We’re all kind of working together but we do have our own mini departments.”
Students were trained through ACU for their positions. This included all of the security and privacy training that regular staff members would normally have.
The student tellers are able to access accounts and give out money while loan officers manage $10 loans that members have two days to pay back with interest. The marketing team has taken on creating flyers and spreading the word about the credit union to their peers. “They’re learning real life stuff right here,” said Reihs.
Students taking out new accounts must have a parent signature allowing them to do so. They will then be given a debit card.
Reihs said for every swipe of a debit card distributed through Eagle Street Credit Union, ACU would give 10 cents back to the school.
Prior to receiving their roles, students had to go through an interview process with ACU and present a resume and cover letter.
Candace Stanley, who works in Business Development at ACU, was able to witness the students’ progress through the whole process. She noted she was impressed with how they have handled their positions and put in the effort to see their credit union succeed.
“They have definitely rose to the occasion,” she said. The students themselves have found Eagle Street Credit Union to be a helpful learning experience. Shelby Tyler, Eagle Street Credit Union president, pointed out a lot of students didn’t know anything about checking or savings accounts beforehand.
“It’s really interesting and I think it’s going to help us a lot in the future,” she said.
Marketing director Turner King said most schools do not offer a financial services class and added he felt like the class was helping the whole school overall.
King is also thinking about pursuing a career in business and said he felt working in the credit union would be beneficial to his future.
“I feel like this is helping me a lot with like experience, how to build business and get people in here and get involved,” he said.
Eagle Street Credit Union is open Tuesday through Friday for the duration of the school’s lunch periods. It is the first school credit union ACU has sponsored.
Eagle Street Credit Union, sponsored by Ashland Credit Union, is now open in the school, allowing students and staff to open and access checking and savings accounts and even take out loans throught ACU. Christmas and vacation club accounts can also be taken out.
All 12 students involved in the credit union are in the school’s financial services class and are split up to handle new accounts and marketing and to take on the roles of tellers and loan officers.
“Everybody is cross trained too,” said financial services teacher Angie Reihs at the credit union’s grand opening on Tuesday. “We’re all kind of working together but we do have our own mini departments.”
Students were trained through ACU for their positions. This included all of the security and privacy training that regular staff members would normally have.
The student tellers are able to access accounts and give out money while loan officers manage $10 loans that members have two days to pay back with interest. The marketing team has taken on creating flyers and spreading the word about the credit union to their peers. “They’re learning real life stuff right here,” said Reihs.
Students taking out new accounts must have a parent signature allowing them to do so. They will then be given a debit card.
Reihs said for every swipe of a debit card distributed through Eagle Street Credit Union, ACU would give 10 cents back to the school.
Prior to receiving their roles, students had to go through an interview process with ACU and present a resume and cover letter.
Candace Stanley, who works in Business Development at ACU, was able to witness the students’ progress through the whole process. She noted she was impressed with how they have handled their positions and put in the effort to see their credit union succeed.
“They have definitely rose to the occasion,” she said. The students themselves have found Eagle Street Credit Union to be a helpful learning experience. Shelby Tyler, Eagle Street Credit Union president, pointed out a lot of students didn’t know anything about checking or savings accounts beforehand.
“It’s really interesting and I think it’s going to help us a lot in the future,” she said.
Marketing director Turner King said most schools do not offer a financial services class and added he felt like the class was helping the whole school overall.
King is also thinking about pursuing a career in business and said he felt working in the credit union would be beneficial to his future.
“I feel like this is helping me a lot with like experience, how to build business and get people in here and get involved,” he said.
Eagle Street Credit Union is open Tuesday through Friday for the duration of the school’s lunch periods. It is the first school credit union ACU has sponsored.
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