MURFREESBORO, Tenn.–Redstone Federal Credit Union joined with Murfreesboro school leaders to celebrate the opening of a branch inside Siegel High School that is fully operated by students.
The credit union said student staffers will gain real-life work experience, improve their financial literacy, and earn money while training. The branch is open to students, faculty, and staff at the school.
“We are grateful for our expanding partnership with Redstone Federal Credit Union," Director of Schools Dr. Jimmy Sullivan said in a statement. “We are big believers in offering hands-on learning opportunities for our students so they can put into practice the skills they are learning in the classroom.”
Joe Newberry, Redstone’s president and CEO, said the CU is excited that the partnership and collaboration with Rutherford school leaders have resulted in a second student-run branch. The program already operates at Blackman High School to great success.”
Added Mike Panesi, Redstone’s Tennessee executive, “When you think about how much the students get from this partnership and how much revenue the schools can earn, it’s a win-win for everyone involved.”
Redstone said it has installed branches in eight high schools in North Alabama and Murfreesboro, Tenn.. The Schools Program has won several state and regional awards for its innovative and practical approach to financial literacy.
“In addition to promoting financial literacy, Siegel receives a specially designed debit card which allows students, staff, alumni, and fans to financially support the school,: RFCU said.
Each time a Redstone member swipes the Siegel debit card, Redstone gives money back to the school. So far, schools and community partners in the program have earned over $742,000 in revenue.