Unique Place: Lancaster HS Students Run Credit Union

Press Release
November 27, 2014
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Lancaster, NY -When it comes to finances, some students at Lancaster High School are really getting used to handling money and making smart decisions for their financial futures. In this edition of Unique Places we take you take you to the credit union branch operated by students right in the high school.

Business Teacher Scott Dixon says “We can’t always send the students out so in this case we brought the business in.”

He’s referring to the business of banking and finance in the form of a fully functional branch of the Lancaster Depew Federal Credit Union. It operates for teachers and students and is located .right off the main hallway of the high school. Students actually run it and work in it. Some have paid internships and hours before or after the school day…

Senior Andy Fellner who is one of those interns says “It’s a great opportunity just to be able to work in the credit union. Like just to work with all the money and it’s a great opportunity for later in life just to actually work somewhere.”

Yes, he said work with the money. They actually deal with real accounts for students and teachers with real responsibility and lessons for life. Another branch intern Nicole Gorski explains “As an intern at the credit union we’re really learning how you have to start saving young in order to have your money grow. A lot of students open different accounts for like prom and a lot of people are getting ready to buy cars and college and stuff for their future.”

In addition to the paid interns, other students volunteer free periods to work as tellers at the credit union. The interest is definitely compounded by the attitude of these student staffers as Lancaster Depew Federal Credit Union Branch Manager Jackie Myers notices “It’s so inspiring to see such young professionals. They come from students in the hallway into the credit union here and they just completely change. The way they interact with the teachers professionally and the whole confidentiality of it all. I really feel like they’re a co-worker rather than a student here at Lancaster High School.”

Actually the credit union branch is part of the high school’s much larger Academy of Finance. It takes in more than 200 students who may someday aspire to a profitable position in the world of high finance. The overall National Academy Foundation program opens up realistic career options. Finance Academy and teacher Scott Dixon notes “When they go to college they have a clearer picture of what they want to explore. Many of them in business and finance. Others might go into health care or other careers. But they’re much more focused.”

And the Finance Academy program, with brief financial literacy seminars run by the students, may help classmates learn how to budget and save, balance accounts, and hopefully avoid serious debt. Dixon says “The Academy of Finance has been around for ten years. And what we’ve been doing is trying to make sure that students are prepared for their financial life. There’s no required courses for finance in high school and yet that’s one of the biggest problems people face when they go on to college or into careers.”

So it all comes full circle with this in-school credit union according to Myers “We just try to stick by our motto here at our school branch. That it’s run by students for students.”

 

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