As part of an initiative to promote financial literacy, Woodforest National Bank has partnered with Hillside High School’s Business and Finance Academy in Durham, NC to open a functioning bank branch at the school to be operated and run by students.
Dubbed as Hillside’s Student Bank Training Center, organizers stated that students, staff and their families will be able to open checking and savings accounts onsite at the school. The program will also provide internships for students to gain hands-on experience in banking. Senior Vice President Jessica Valentine of the Texas-based bank says this is their first time opening a high school branch.
“There’s a staff that’s been hired for this branch, there’s a manager and service representatives and so they facilitate everything,” said Valentine. “And we’re here on a weekly basis sort of providing any follow-up training or questions or things like that. So we’re just supporting the staff that’s here, the kids.”
Kiara Lowther is a senior at Hillside and a Loan Officer at the branch. The students trained at the bank are involved in the school’s Business and Finance Academy headed by Priscilla Ross.
“Before I took this class, I used to spend money on fast food and a lot of pointless stuff. But Ms. Ross showed us how to balance our money and how to save up,” said Lowther.
State Treasurer Janet Cowell, who states financial literacy as a “top priority for [her] office,” was in attendance for the ribbon cutting for the branch opening and made the bank’s first check deposit for $500 from the state’s Unclaimed Property fund.
Learn more on WUNC 91.5.
BMWK–How cool would it be to create more opportunities like this for students to get hands on experience on school grounds? Are you familiar with similar initiatives in financing or other fields?