Philip Simmons High School banks on a bold new idea

Heritage Federal Trust Credit Union opens student-run branch inside PSHS

Having a hands-on financial educational opportunity for students on school grounds can be a worthwhile investment. In fact, Philip Simmons High School is banking on its success.

The Iron Horses recently celebrated the opening of a new student-run Heritage Trust Federal Credit Union on campus – the third HTFCU branch to set up shop at a school within the Berkeley County School District. The official ribbon-cutting was held on Sept. 23, after all parties signed a partnership agreement cementing the new relationship.

“It is indeed an honor to open this branch,” noted PSHS Principal Anthony Dixon during the program’s opening remarks. “It is an exciting time because to actually see this school grow and this community grow with various opportunities for our community and our students gives me such pride.”

Joining Dr. Dixon at the event, in addition to PSHS students and faculty, were HTFCU officials, Berkeley County Schools Superintendent Eddie Ingram, School Board Member Mac McQuillin and other BCSD representatives. A group of 12 students were recognized during the program by financial literacy teacher Eric Bendig, who is also head football coach for the Iron Horses, for having completed an 80-hour training internship with HFTCU over the summer to prepare them for working at the new branch.

“It’s a fully functional financial institution,” said Bendig, when asked what types of responsibilities the students have at the branch. “They only thing they cannot do is authorize or issue loans. But they can open accounts for any age group – checking accounts or savings accounts…They can cash checks, deposit checks – everything you can do in a bank.”

Bendig is also teaching the kids important life skills when it comes to managing money.

“I got a business degree in college and I was kind of more along the management lines, and so to be able to push this out, it’s more my passion…It’s been fun!”

Jason Lee, president and chief operating officer for HFTCU, is pleased with the program’s success thus far.

“I’ve been really impressed with the concept, as well as the outcome,” he said, while encouraging the kids to work hard and understand the value of money.

“You need to create a career path,” Lee told his young audience. “This is just the beginning. You’ve got to understand (what it means) to work hard and have a vision of where you want to be and how you want to get there…It’s not only about the dollar, but about what you can do with it.”

Superintendent Ingram also offered some words of wisdom for the kids during his time at the podium. Driving his message home with a variety of statistics, Ingram shared that 47% of Americans would have to borrow money from a friend or relative, or sell a possession, if straddled with an unexpected $400 bill.

“That’s not good,” he said. “…I haven’t factored a polynomial since I left high school, but I’ve used financial literacy every day of my life. Just as you will and are right now…I hope you will be our ambassadors to say this is important. We need to learn it, we need to learn it for our future and for the future of children for generations to follow.”

With help from HFTCU, in addition to opening student branches at various sites, BCSD is now offering a high school elective curriculum that targets financial literacy, personal finances, and employability skills at campuses across the district – “with the vision of it becoming a graduation requirement,” noted Ingram.

PSHS students working at the new HFTCU branch are already singing the program’s praises.

“This experience means a lot to me,” said Marquey Atkinson, a junior. “I never knew that I would be working at a student-run credit union at such a young age!...My favorite part is interacting with the customers and working with the money hands on.”

“It’s actually really, really cool because I’ve gained personal experience with a federal credit union, which I’ve never done before!” added 10th grader Nyanza Anderson. “Personally - time management, also money management has helped me a lot as well. And dressing in something professional - business attire - that has also given me a lot of experience on what to expect in my future.”

Destiny Taylor, who is also in 10th grade, is currently serving as a member service representative at the new branch and helps customers open new accounts.

“I’ve had to learn financial literacy and how to manage my money, especially with college coming up soon,” noted Taylor.

Their work is earning rave reviews from all involved.

“Blown away,” said Dr. Dixon, when asked how proud he is of the students. “To come watch them, opening accounts, creating, doing applications…Some students, with things like conflict resolution, I just remember them having a hard time…and now they can resolve it in a professional setting and hopefully that will transfer into their personal lives, getting jobs or going to college and being able to communicate with professors or their employers”

“It’s awesome,” added BCSD Board Member and Daniel Island resident Mac McQuillin. “We want them to graduate, but we want them to be career-ready. This is a perfect example of what happens when the community gets together with businesses and forms partnerships…Our public schools are a community effort.”

And those behind the project are confident the experience will pay big dividends for students well into the future.

Daniel Island Publishing

225 Seven Farms Drive
Unit 108
Daniel Island, SC 29492 

Office Number: 843-856-1999
Fax Number: 843-856-8555

 

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