Financial literacy comes alive for students with Bison Credit Union

Financial literacy comes alive for students with Bison Credit Union PUBLIC NOTICES

BY FRANCESCA SAGALA

Now students at New Buffalo Elementary School won’t have to wait until they’re grown-ups with a bank account to learn that a “penny saved is a penny earned.”

Students cut the ribbon on the the new Bison Student Credit Union, which is a division of Honor Credit Union, the morning of Monday, Nov. 29.

Students lined up to make their first official deposits Friday, Dec. 3.

School counselor Angela Robertson, who serves as the staff sponsor for the credit union, said that any student can make a deposit. Students can start an account with as little as a $1 deposit.

A group of six fifth grade bankers, with the help of representatives from Honor Credit Union, then take their money and set up their accounts.

“So, you just open an account with a dollar and every other Friday, you can come in and bring cash, bring checks and we’ll get them all set up,” Robertson, who said she works with students on career exploration, said.

Students will be able to make deposits on Friday mornings, before school begins. Students must bring a form 30 N Whittaker St to the table of bankers, which is set Deli by day up in front of the Bison Afterschool Enrichment (BASE) office to make a deposit. Deposit slips are filled out by the students and then carbon copied, so that they and the bank both get a copy.

Staff members are also welcomed to make a deposit.

Throughout the year, students will be entered into special prizes, so the more deposits they make, the better Open 6 days chance they have at winning different davidsdeliandcoffee.com

prizes, New Buffalo Elementary School Principal Adam Bowen said. At the end of the year, a raffle will be held for an Apple iPad Mini. Bowen said that Honor Credit Union approached him about opening the credit union in the school nearly three years ago. “The big thing is just trying to teach kids about savings and financial literacy and why it’s important,” he said. The week before Thanksgiving, representatives Student bankers assist customers from Honor with their first deposits Credit Union gave a one-hour training session to the student bankers. The students, who all received identical blue Bison Student Credit Union T-shirts, were taught how to fill out a deposit slip and deal with different scenarios in their new banking careers. “The kids have to start off counting the cash box to make sure everything’s correct - after all the deposits are made, they have to match the slips with the cash box to make sure everything equals out,” Robertson said.

Robertson said she approached teachers in the fifth-grade classrooms, asking which students are mathematically inclined as well as which ones have good people skills, as students will be dealing with their fellow classmates when they make deposits. Student bankers were also asked to go through an application process. “They had a real job application that they had to fill out and they had to talk with their parents and bring it back,” Robertson said.

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