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Perry Public Schools partners with LAFCU for student-run branches

Tuesday, October 7, 2014   (0 Comments)
Posted by: Michelle Rahl
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FOR IMMEDIATE RELEASE                                                           Contact: Carrie Rathbun  October 7, 2014                                                                                        517-651-5358                                                                                                                                     carrie@rathbunpr.com

 

Perry Public Schools partners with LAFCU for student-run branches

 

LANSING, Mich. — Students in Perry’s elementary, middle and high schools will soon be learning the ins and outs of running a credit union and managing their finances.

Through a new partnership, LAFCU and Perry Public Schools are setting up portable branches at each of the district’s three school buildings that will be staffed by LAFCU employees, with assistance from Perry students selected through an interview process.  The mini credit unions opened Oct. 2 and will operate for two hours on assigned days every other week. 

Perry students who are selected to be assistant tellers will learn valuable interviewing, marketing, bookkeeping, financial and social skills. These volunteer students – who could be from any of the schools – will receive t-shirts and actually perform supervised transactions.

All students throughout the district – regardless of their age – will learn the importance of savings, goal setting, needs versus wants, and a sense of community.

“Our goal is to have the students learn useful, real-life skills in a positive and safe environment,” said Mike Foster, Perry Superintendent. “The more we can teach our kids about saving money, managing that money and even a little bit about running a business, the better prepared they are for the future. It’s our job to help them be ready for the real world, and we all know dealing with finances is a big part of that.”

Kelli Ellsworth Etchison, LAFCU’s Vice President of Community and Business Development, explained that LAFCU will deposit $5 into each new account that is opened. Parental consent is required for minors. Students will be able to make deposits to, and minimal withdrawals from, their accounts. In addition to savings accounts, LAFCU will also offer youth certificates of deposit.

There is a special program for children up to age 12, added Ellsworth. LAFCU’s Planet M is designed to teach them about savings in a fun and rewarding way.

“They’ll receive a piggy bank, a passbook to collect stickers for every deposit, and gifts from our treasure chest after collecting 10 stickers,” she said. “We truly hope they’ll learn valuable life skills through this program. We are excited to be in Perry. The board and staff have been very receptive.”

For teens, Ellsworth said LAFCU has a Web site, lafcumyway.com, that offers personal finance tips, fun blogs, quarterly newsletters for both the LAFCU MY WAY and Planet M programs along with other resources.

Foster pointed out that LAFCU representatives attended the district’s open houses at the beginning of the school year and spoke with dozens of families about the new program. Letters were also mailed to every student’s home, explaining how LAFCU and the district would be working together. LAFCU also had a booth at Perry’s Oct. 10 home football game as another opportunity for the community to become familiar with the organization and how its school branches will work.

            LAFCU’s partnership with Perry extends to the credit union’s exclusive sponsorship of the Greater Lansing Activities Conference, which was announced in April. Perry officials recognized LAFCU at the district’s Oct. 10 football game against Lakewood, another GLAC school. GLAC was formed by Perry, Lakewood, Olivet, Stockbridge, Lansing Christian, Leslie and Maple Valley districts to allow the schools’ athletes to play against other schools of similar size, ability and socioeconomic status, and in most cases, closer geographic distance.

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About LAFCU

Chartered in 1936, LAFCU is proud to be mid-Michigan’s credit union, serving the counties of Barry, Calhoun, Clinton, Eaton, Gratiot, Ingham, Ionia, Jackson, Livingston, Montcalm and Shiawassee. A recipient of the Dora Maxwell Social Responsibility Award, LAFCU takes pride in bringing value to the financial lives of its members, neighbors, families and community. Offering a comprehensive range of personal and business financial products, LAFCU provides services that include checking and savings accounts, auto and mortgage lending, business accounts and business lending. LAFCU serves 55,000 members, holds more than $580 million in assets, and maintains eight locations throughout Greater Lansing and Shiawassee County. Anyone who lives, works, worships or attends school in its designated counties is eligible to join. Members enjoy benefits, such as lower interest rates on loans, higher yields on savings, insurance discounts, preferred seating for LAFCU-sponsored events, and access to 28,000 surcharge-free ATMs through the CO-OP ATM network. LAFCU supports and enriches mid-Michigan by donating funds and employee volunteer hours to many organizations and causes. To learn more about LAFCU’s services, visit www.lafcu.com or call 517.622.6600 or find us online:

·       Website: www.lafcu.com

·       Facebook: www.facebook.com/LAFCU

·       Twitter: @LAFCULansing

 


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