Student credit union open in Penn-Trafford High School
A new partnership with the Westmoreland Community Federal Credit Union is enabling Penn-Trafford High School students to catch up on their banking needs in the school's cafeteria.
The credit union's first student branch — the second of its type in Westmoreland County — opened last week to provide students with on-campus banking options during lunchtime on Wednesdays and Fridays.
Three students, who are employees of the credit union, will staff the branch, which Student Union members dubbed “Warrior Cash Stash.”
The new branch is an extension of the credit union's financial-literacy program in the school, which started in 2009 with classes taught by a credit-union employee.
“It's always been one of our goals to get into a school and start a student branch,” credit-union CEO Maria LaVelle said.
The student credit union branch at P-T is the second in the county and one of about 50 statewide. In February, the Norwin Teachers Federal Credit Union opened a branch in the Norwin High School cafeteria.
Though interest in financial-literacy education is increasing, only four states — Missouri, Tennessee, Utah and Virginia — require students to take at least one semester course devoted to personal finance, according to the JumpStart Coalition for Personal Financial Literacy nonprofit organization.
In January, a Pennsylvania task force on economic and financial-literacy education recommended that the state require every high school student to complete a personal-finance course as part of the graduation requirements.
The student employees said the branch is important for starting them and their peers on a good path to manage their money once they're living on their own.
“A lot of students, they have an account that's more managed by the parent than them, so that's the good thing here,” senior Matt Senkow said. “It's more managed by the student.”
As is the case with traditional credit-union memberships, the students can open checking or savings accounts or participate in the Christmas- or vacation-club savings programs. The students also can sign up for a credit card that has a $250 limit and 7.99-percent interest rate.
Lucas Johnson, a junior who works at the Warrior Cash Stash and who is the high school Student Union's representative to the Penn-Trafford School Board, said having a membership will help students keep track of their money.
“It's nice for the fact that you can see your transactions and how much you're spending,” he said.
Chris Foreman is a staff writer for Trib Total Media. He can be reached at 412-856-7400, ext. 8671, or email@example.com.
Show commenting policy
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
- Penn commissioners forecast no tax hike
- Penn Twp. board OKs fracking regulations
- Penn-Trafford teachers accept contract; board vote to follow