University High school students run on-campus credit union
UPDATED: Tuesday, April 29, 2014 - 9:29pm
Waco, Texas — It's a Central Texas first, according to Waco University High School officials. Thanks to a $40,000 grant from Educate Texas, the high school opened an Educator's Credit Union on campus. It's a dream that's been ten years in the making.
It's been about a week since the Trojan Branch of Educator's Credit Union officially opened for business. So far, it appears more teachers than students are using the bank.
"We're hoping that are students start seeing the students involved in it and want to open up accounts. We're really involved in financial literacy for our students," said University High School teacher Dede Moore.
But, teachers and the four student bank workers are hopeful students will eventually start exploring their banking options.
"We have a lot of students who don't know how to manage their money. And, I think it's going to be a great opportunity for them to manage their money, open an account, and to know that even at school they can save money, not just waste it," said University High School junior Yanely Duarte, who is one of the bank tellers.
"As the days go on and the years pass by, I think it'll gain a reputation," said University High School student Miguel Jaramillo, who is also a bank teller.
The credit union's four tellers were selected through an actual application process with Educator's Credit Union. A total of 12 students applied for the positions. Two more students will be trained over the summer. Instead of getting paid for their time, these students are earning class credit and invaluable life skills.
"It's just a great job experience for them that isn't offered to a lot of students in high school," said Moore.
While the students have been properly trained to perform their job, there will also be an Educator's Credit Union member around during operating hours to assist when necessary.
In the future, Moore says we could see more student run credit unions on high school campuses in Central Texas.
"We hope that it would spark some other schools, maybe. But, we're glad that we're the first ones here."
For now, the bank is just open every other weekday, starting on Monday, during lunch. Expanded hours could come down the road.