IMMOKALEE, Fla.— Suncoast Credit Union has opened its 20th student-run branch at Immokalee High School. It is Suncoast’s first student-run branch in Collier County, Fla., and has a goal of teaching children money management and savings skills particularly in communities that are often unbanked.
Immokalee High School welcomed the new student-run branch with a ribbon cutting with school and county officials, students, and Suncoast team members. On its first day of operation, more than one-dozen student transactions were made, reflecting the enthusiasm and engagement of the students in learning about financial literacy.
“There is almost nothing that compares to an understanding of money and how it can work for you. Young people who understand money are in a position to gain more from life and to avoid some of the pitfalls that create personal and social issues,” said President and CEO Kevin Johnson.
The credit union said the student-run branches are a unique initiative and are designed to provide hands-on financial experience for students while instilling important money management skills.
“Through these mini-branches at elementary, middle and high schools across Florida, students accept applications and deposits from students and staff members, while gaining practical knowledge about money management and learning skills that elevate their resumes and give them a competitive edge when applying for jobs and college,” Suncoast said, adding it plans to continue expanding its student run branch program, with six additional in-school locations scheduled to open this year.