Students in Sparta now have a hands on opportunity to learn about their personal finance. Sparta High School is partnering with First Community Credit Union to open a student branch inside the school’s front entrance.
The new student branch is both for the students and run by the students. Two student tellers will work alongside a branch coordinator from the Credit Union to help their peers make transactions.
Junior Kylee Anderson says she got involved as a teller because she thinks students can learn a lot about finanace.
Kylee Anderson (Student Teller) “How to save their money wisely, and learn how to spend wisely, because some students just spend it frivolously, so they can come here to learn how to save and things like that.”
A 2014 study by the US Department of the Treasury found that access to a school bank or credit union increased the number of students who opened accounts and improved attitudes about saving and financial institutions.
Tim Hyma (Sparta Chamber Of Commerce) “It’s exciting that they’re getting the kids involved early to learn about financial stability for their savings. Understanding how money works and how to use an ATM without jeopardizing their financial success.”
Not only will students gain experience managing their money, but the credit union also hopes the benefits will extend to the Sparta community.
Sandy Anderson (1st Community Credit Union) “The partnership between the school district and 1st community credit union is going to mean that these students are getting additional education in financial literacy, which in turn will help the community where our hope is that these students will become better consumers in the community wherever they live.”
The school will also offer monthly courses on money management topics, like balancing a checkbook and using credit wisely. The branch will be open about 2 days a week. Both students and staff can use it.
Erin O’Brien reporting Fox News