Columbia High Launches Student-Run Credit Union

The students that operate the Credit Union at Columbia High School open bank accounts, saving accounts, manage loans, among other things.

Columbia High Launches Student-Run Credit Union

COLUMBIA, MS (WDAM) - Some students at Columbia High School through their school’s partnership with Ferguson Credit Union are getting the opportunity to learn how to manage money at an early age.

The students that operate the Credit Union at Columbia High School open bank accounts, saving accounts, manage loans, among other things.

Lynell James, The President of the Credit Union’s Board of Directors said, the credit union want to be proactive about equipping students with financial literacy in management early on.

“Before they get out in the world and start interacting with financial instruments that no doubt will shape their very future, the sooner you learn how to use and interact with financial instruments, the better,” said James.

Student said through the program they are walking away with a great wealth of knowledge they they’ll be able to use for the rest of their lives.

“Ms. Cathy she actually taught me how to open up accounts and how to do loans and stuff like that with saving and she actually taught me myself how to manage money and save,” said Karon Magee.

Jennifer Stringer a student at Columbia high said her biggest lesson was about the seriousness of privacy.

“Confidentiality is one of the biggest things. That was what were taught all throughout our practice and everything that we do. Confidentiality is what makes a credit union and a bank roll smoothly,” Stringer said.

Jade Sleemaker, another student in the program said aside from learning about the importance privacy she was taught about the significance maintaining a good a professional reputation.

“Be respectful because they’re not going to want to come in here if we’re not respectful to them and then therefore they’re going to share with their friends and its not going to be as successful like we need it to be,” said Sleemaker.

Drayton Purvis, a student operating the credit union, added that he’s glad that Columbia High is taking an out of the box approach to provide a more meaningful component to their education.

“I’m just grateful Columbia High School grants us opportunities like this to further out education in not only academics but financial literacy as well,” Drayton Purvis said.

The principal at the school said he hope this program will become a catalyst for more programs like it in the future through out both the state and the country.

“We hope that a lot of high schools will come and visit so that we can show the awesomeness of our kids and our credit union and hopefully they want to replicate this model,” said Braxton Stowe.

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