Hartselle High School Finance Academy students are ready to handle their fellow students’ banking needs, thanks to a partnership with Redstone Federal Credit Union.
Five students and two teachers spent time training at Redstone in July, and they are now ready to take deposits, cash checks, offer gift cards, make transfers and much more. Redstone opened its first school branch on Sept. 5.
“Our goals with the Schools Program are to build partnerships and relationships with the schools and to advance financial education. It is also an opportunity to find future employees among the students as they experience the working world,’’ said Joe Newberry, Redstone’s President and CEO.
The credit union branch is located in Hartselle’s school library. Students will handle all branch transactions under the supervision of Finance Academy teachers. The branch will be open during lunch hours.
Redstone is covering all expenses for construction, equipment and training. Principal Jeff Hyche said the benefits to Hartselle students are two-fold.
“For the kids working in the branch, it’s their capstone project. Most are seniors and this experience is invaluable,’’ Hyche said. “For all other students, it’s about teaching them how to handle their finances. We are really trying to market this to parents as a time that students can learn all aspects of financial management.’’
Redstone will also offer financial education workshops for students and staff throughout the school year.
Redstone’s Hartselle branch at 1415 Main Street East, will handle services not available at the Hartselle High School branch.
Students, 17 and under, must have a parent or guardian’s permission to open a savings or checking account and must be joint on the account.
Withdrawals are limited to $300 per transaction and deposits cap at $2,000 per transaction.
“We are excited about this partnership and believe the community will reap the benefits of a financially prepared generation,’’ said Newberry.