Monday, November 4, 2013

Elementary Student-Run Credit Union Breaks Record

Thornton Creek Elementary in Northville, MI is Community Financial’s featured student-run credit union. They hold the record for the largest number of deposits during a deposit day with 96 students making deposits. Community Financial would like to congratulate the student volunteers for all of their hard work. Great job Thornton Creek!  Thornton Creek is one of 39 schools participating in Community Financial’s 2013 - 2014 Student Run Credit Union Program.

The student-run credit unions provide a great channel for students to start saving early in life. This program allows students, in the communities we serve, to establish savings accounts in their own school. Participating students work as branch managers, tellers, computer operators, bookkeepers and marketing reps as they run the credit union and serve their peers.




During the 2012-2013 academic year, over 2,000 student members from 36 participating schools deposited over $129,300.  Participating school districts include:
  • Plymouth-Canton Community Schools
  • Northville Public Schools
  • Novi Community Schools
  • Northern Community Schools
  • Canton Charter Academy
  • South Canton Scholars Charter Academy
  • Plymouth Scholars Charter Academy
For a complete list of participating schools, please visit this link.

The program was initiated in the 1990-91 academic year as a way to provide financial education to students in southeast and northern Michigan. The main goal was to expose students to money management skills and to give them an understanding of basic financial transactions.  The student credit unions are one of several educational programs offered to youth by Community Financial.

“Community Financial is passionate about our mission to teaching students the importance of saving in elementary school, providing a way to grow those savings in middle school and then offering access to their savings and checking accounts in high school. This program truly prepares students for the ‘real world,’” said President and CEO Bill Lawton.

This program also gives students the opportunity to learn real life skills through the interview process. Credit union personnel provide human resources presentations, teach students how to properly fill out applications, write a resume and interview.  Students undergo an interview and training to run the credit union in their schools. Parents and students can set up savings accounts through one of the school-based credit unions at any time.

No comments:

Post a Comment

Community Financial Credit Union, P.O. Box 8050, Plymouth, Michigan 48170-8050;
© Community Financial 2013
Federally insured by NCUA.
Equal Housing Lender
Additional coverage provided by ESI.
Federally insured by NCUA.