May 23, 2023 – John F Kennedy High School is among several Winston-Salem/Forsyth County Schools capping off an exceptional year of financial education through their partnership with Allegacy Federal Credit Union.
Allegacy worked with nine different high schools in the district this year to set up Student Run Credit Unions (SRCUs), in which student bankers offer people in their school communities banking services under the guidance of trained financial professionals. JFK’s SRCU got off to a late start this year because their school building was still being renovated until February. However, their members were determined to make the most of the extracurricular opportunity, and even with only a few months to work with, they were among the schools that set up the most accounts this year.
“We are a small school, but we have big school spirit!” said Career Development Coordinator Deborah Cochran, the advisor for the SRCU.
10 student bankers have spent the last few months visiting their classmates in classes and at lunch to tell them about the benefits of having bank accounts. They’ve opened savings and checking accounts for students collecting paychecks from their first jobs, putting away money for college and car payments, or just hoping to have a nest egg ready when they begin their careers. They’ve also assisted teachers and faculty around the school – their largest donation of the semester came from Custodian Telvyn Gunnings, who put $100 into an account that he opened for his mother.
“Being able to reach out to students and staff and give them this opportunity was nice,” said Student Banker Jeremiah Washington. “It feels like we’re all getting to grow together.”
Not only is the partnership a skill-boosting opportunity for students who see a future for themselves in the financial sector, it’s a chance for the entire school community to learn more about the upsides of proper money management. Saving and investing with a credit union and using bank resources to build up credit can give someone a path to financial security and peace of mind, especially when they get started at a young age. The student bankers hope they’ll get to spread that message even more in years to come.
“Establishing credit with a bank can help you a lot,” said Student Banker Brayhan Diaz. “It sets you up for a strong future.”
