COLLEGEVILLE, Minn. (8/4/14)--Collegeville Community CU, St. Joseph, Minn. with $11 million in assets, has received a grant from the Minnesota Credit Union Foundation to help establish a student-run branch on the campus at St. John's University.
The grant was part of $7,500 in funding the MCUF announced in April for four credit unions in the state (St. Cloud Times July 30).
The branch, set to open at the start of the fall semester, will be largely student managed, with a student board and leadership, said Mark Douvier, Collegeville Community CEO Mark Douvier.
While financial oversight will take place from the credit union's main office, the branch will hire up to six students as part-time employees and include a 2014 St. John's graduate as its manager.
Collegeville Community CU hopes to have partnerships with several departments and organizations on campus to offer real-life experiences for students, ranging from accounting to finance and marketing.
Douvier said he wants the students involved in the branch to make decisions and experience the results--good and bad--of these decisions.