New CMCU student-run branch to offer first-hand experience in financial services
Tuesday, February 18, 2014
Charlotte, N.C. (2/18/14)—When it comes to personal finances, it pays to be a hawk. Keeping an eye on the bottom line, looking for ways to save and managing debt are important in shaping a bright financial future.
The West Mecklenburg High School Hawks will soon get an opportunity to learn first-hand about saving, spending wisely, budgeting, and managing personal finances. A student-run branch of Charlotte Metro Credit Union (CMCU) will open in the campus cafeteria on Thursday, Feb. 20 at 10:15 a.m. immediately after a ribbon-cutting ceremony. The branch will be open on Thursdays during lunch period. Students can open accounts and make deposits; they cannot make withdrawals at the campus branch.
"Hawks Metro Credit Union” will operate as an extended branch of CMCU. The branch will be operated by student volunteers – from sophomores to seniors – who have applied, been interviewed and undergone leadership training. A committee of teachers will advise the students, and staff from CMCU will closely monitor operations.
"The project builds on the financial literacy curricula offered through the Charlotte Mecklenburg School system,” said Shirley Floyd, CMCU’s member loyalty ambassador and an advisor to the program.
"With this hands-on project, and through the aid of teachers, students involved as staff and customers can learn about the basics of financial decision-making and develop good, sustainable spending habits,” Floyd added.
Twelve students will be employed as branch managers, tellers, and customer service specialists. Students can also work in public relations and social media. The student staff gets real experience in the world of bank operations, and student customers get the opportunity to see their savings grow and learn to balance a checkbook.
West Mecklenburg teachers and administrators have worked closely with CMCU staff to prepare for opening a student-run branch. CMCU began the student-run branch project in 2009 at Garinger High School. Another student-operated branch opened the following year at Olympic High School and another at Harding University High School the year after that.
Upon opening an account, students will get a debit card – and instructions on using it wisely. All deposits will be documented and transported to the Charlotte Metro branch on Wilkinson Blvd. at the end of that school day. The student-run branch will take security seriously. Campus police, assigned teachers, and advisors will be on hand when the branch is open.