School district and credit union to run student branch in Valley High School
Published 4:32 pm Monday, August 5, 2019
VALLEY – A local bank and high school have teamed up to teach students how to save money.
According to a news release from the Chambers County School District, Chattahoochee Federal Credit Union has partnered with Valley High School to create Ram Nation Savings Station, a student-run credit union located on campus that allows students to build their own savings accounts.
The news release from the district says the opportunity will teach students the skills to become better managers of their own money through the experience of writing deposit slips, balancing their account, learning about compound interest and other responsibilities associated with a savings account.
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Lindsay Weldon, CFCU member solution representative, said the bank wanted to be able to give students real-life skills and generate financial literacy skills.
“This is going to give students the opportunity to have a real savings account that they can take with them after high school,” Weldon said. “This will also give students the opportunity to run the branch, so we are super excited about this opportunity.”
Students, along with a parent or legal guardian as joint owner (if the student is under 19 years of age), can open a savings account with a minimum $5 deposit. This deposit entitles students to a lifetime membership with Chattahoochee Federal Credit Union. Memberships include privileges at the CFCU Valley branch located at 519 Fob James Drive, so students can continue their participation after the school year ends.
In addition, student members may be eligible for special rewards and drawings throughout the school year.
“We will be distributing membership applications to our students when school starts back on Aug. 8,” Valley High Principal Dr. Sherry Ashe said. “We are very appreciative for this new partnership with Chattahoochee Federal Credit Union and the benefits it will provide for our students.”
Weldon said the bank also has programs where they go into the schools with workbooks and teach additional financial skills to students.
The Ram Nation Savings Station will be open every Thursday during seventh period, operated by selected Valley High students under the supervision of a CFCU employee.
For more information, go online to www.chatt.coop.