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Branch gives hands-on experience to elementary students
BIRMINGHAM, Ala. (12/5/08)--Community CU, based in Gadsden, Ala., has opened its fifth in-school credit union branch, this one at Albertville Elementary School, to provide hands-on financial experience to youngsters on how to make their savings accounts grow. They’ll also get experience at online banking.
Click to view larger image Working together on Gadsden, Ala.-based Community CU’s newest in-school branch in Albertville Elementary School are, on the left, Albertville teachers, principals and school board members and the mayor of Albertville, and on the right side, the credit union’s employees and AES students who will be branch tellers and runners as part of a class. (Photo provided by Community CU)
The 1,700 students at the school “will be able to make deposits at school each week, but can only make withdrawals at our main offices with their parents,” said Brenda Gunnells, Community CU branch manager. “We hope by learning how to deposit money into savings accounts, they will learn the value of saving money and be better prepared for when they become adults.” Once the money is deposited, the students can see it grow when they receive statements or go online to Students can mouse over to the CU-e icon and use their account number and password to log into their account, beginning their electronic banking education, Gunnells said. Students are trained as tellers, are led by a teacher and assisted by parent volunteers. At the end of each deposit session, students must tally the day’s deposits and reconcile them with receipts. The program is beginning with fourth graders, but other grades will be added in the next few months, said the $222.6 million asset credit union. According to the Alabama Credit Union League, Community CU is one of the league’s first REAL Solutions credit unions. “We are pleased to see the credit union making what will be a long-lasting impact with area students, as well as building relationships, and the league will continue to help the credit union with its outreach in the future,” said Adena Whitman Zamora, league director of public and political affairs. REAL Solutions is an Alabama league initiative in conjunction with the National Credit Union Foundation and other leagues.
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