CHESTERFIELD, Va. (WRIC) — Chesterfield Federal Credit Union (CFCU) and Chesterfield County Public Schools have teamed up to create a student-operated branch of the credit union opening at James River High School this month.
The branch will be staffed by four paid student interns to prepare help prepare them for the work force. These students will run a fully operational branch, develop and execute business plans and teach their members the value of sound financial management.
“With this commitment, the branch will provide students a real world financial experience with real money and real accounts so they can better manage their financial lives as adults,” a release from Chesterfield County Public Schools says. “Chesterfield Federal Credit Union will provide support and assistance to the students who will be operating and marketing the branch.”
The students will run a fully operational branch, where they will develop and execute business plans and teach members the value of sound financial management. A teacher liaison will supervise the students.
“Community partnerships are a critical component to our work. Thanks to partnerships like the ongoing work we do with the Chesterfield Federal Credit Union, our students see that the community cares about them and wants them to succeed. Projects like the student-run credit union branch are preparing students for success in the real world.” CCPS Superintendent Dr. Marcus Newsome said.
CFCU has also accepted responsibility for all costs associated with the branch. They’re providing all the necessary equipment for its operations, creating a new educational experience for students without cost to tax-payers.
“We are thrilled to partner with Chesterfield County Public Schools in opening the first student-branch in Chesterfield County,” Chesterfield Federal Credit Union CEO Jeanne H. Dotson said. “This unique opportunity for students is reflective of our commitment to financial education in Chesterfield County.”
A ribbon-cutting celebration and tour of the new facility will be held for invited guests and media on Friday, January 15 at 1 p.m. at James River High School, located at 3700 James River Road in Midlothian.
CFCU is a not-for-profit financial cooperative organized by and for employees and students of Chesterfield County Public Schools and employees of Chesterfield County Government as well as others who share a common bond in our community. Click here to learn more.