MENTOR, Ohio (9/18/12)--Cardinal Community CU, Newark, Ohio, will launch the first student-run credit union in Northeast Ohio at Lake Catholic High School in Mentor.
The branch will serve as the centerpiece of a financial literacy education program that promotes positive money management skills such as thrift, smart spending, informed use of credit, and the benefits of regular saving and investing, said the credit union.
Officially co-branded as the SmartStart Cougar Branch, the operation will be staffed by Lake Catholic student volunteers under the supervision of $25 million asset Cardinal Community CU.
Cardinal Community CEO Christine Blake is a Lake Catholic alumnus. "The student branch program is a boon to all involved," Blake said. "The students learn real-world skills in a positive, safe environment.
In concert with the branch initiative, the credit union will provide resources and work with the school to develop financial education programs and presentations in keeping with the Ohio Grade Level Content Standards and Lake Catholic High School's goals and objectives.
Programs will be designed to introduce relevant, hands-on financial literacy concepts to students. The curriculum may comprise classroom teaching, facilitated workshop content, financial literacy roundtables, Web-based interactive coursework, and an on-site simulation of real-world personal finance challenges.