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S e p t e m b e r 2 011, V o l . 5 2
DOLLARS FOR SCHOLARS
Ali Stack/highlights
Cav Credit Union now open for business
A WORTHWHILE INVESTMENT: Seniors Carlos Diaz, Jeiyi Wu and Laura Yut prepare to complete their first client transaction after the official opening of the Cav Credit Union at 9 a.m. on Wednesday, Sept. 14, 2011. The students act as tellers at the Cav Credit Union (CCU) where students, parents, faculty or anyone with an account can withdraw and deposit money. “We have a responsibility to provide excellent service to the student body,” Diaz said, whose sister Rosemary Diaz, senior, is also a volunteer for the CCU.
By Gretel Sanchez
The volunteers were chosen through a process of interbuild a sound financial base in school. views with SFEFCU employees and were trained over the At the ceremony Principal Adolfo Costa and Region IV summer to prepare them for the technical skills associated Superintendent Alex Martinez, Ph.D., spoke of the opportu On September 14, Principal Adolfo Costa cut the with operating a credit union. These students will be able to nities the credit union would give students: internships and red ribbon to mark the grand opening of the brand open accounts and process transactions, but they will only the chance for students to learn to “manage their dollars and new Cavalier Credit Union (CCU), which gives have limited access and will not be able to see account balnot depend on parents”. students the opportunity to deposit and manage ances, past deposits or withdrawals. “Having a credit union at school will their money with checking and saving accounts in Still, some express skepticism teach students, beginning freshmen year, only school. about the administration of the credit the concept of saving up,” said junior An official branch of the South Florida Educaunion. Jake Mekin, president of Future Business tion Federal Credit Union (SFEFCU), the Cavalier “I hate to say it but I wouldn’t Leaders of America, the nationally recCredit Union is now open for business every Tuesday and trust students with my money. ognized high school and college business Wednesday from 12 p.m. to 3 p.m. All of its operations take Maybe if I knew more about it, [I club. “Putting just a little bit of money place in the room located on the left of the school’s main required to open would],” said senior Kevin Aznar. into an account every week will help entrance. Cav Credit student volunteer students have money to spend for junior an account at the “A credit union resembles a bank with the distinction senior Rosemary Diaz says she and senior year activities like college that it is on a smaller scale, does not charge monthly usCav Credit Union disagrees with any question to her tour, class rings, and homecoming, which age fees, and charges lower interest fees”, said Cav Credit or fellow students’ professional are all expensive.” Union volunteer and senior Kevin Kuchenbaur. conduct, arguing that the student Additionally, students who hold an SFEFCU employees oversee account management due volunteers are “highly intelligent” and were trained by “very account for over a year are eligible to participate in a raffle to privacy issues, but student volunteers are capable of setprofessional” SFEFCU staff. to win a full scholarship to any Florida state university. As ting up accounts and handling deposits and withdrawals. “With a supervisor present at all times, there should be an additional incentive, the Cav Credit Union offers AMC To open an account, a student must provide a $5 initial nothing to worry about,” Diaz said. movie vouchers for half-price tickets, $7.50 for new releases deposit, valid Florida identification, and social security However, many students do trust the school’s credit and $6.50 for all others. number. After students set up their accounts, they will be union, and every Tuesday and Wednesday the credit union’s In these harsh economic times, the Cav Credit Union able to deposit paychecks from their jobs or extra cash they office is filled with students conducting business. Instead hopes to prove itself as a viable source for scholars to begin made from selling old books. of having to go out of their way to find a bank, students can their financial education and earn a few dollars on the side.
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