Ferguson FCU opens student run, in-school branch

Posted October 13, 2015    

Cougar Credit Union Grand Opening, October 13, 2015

Ferguson FCU opens student run, in-school branch
MONTICELLO, MS (September 25, 2015) - Ferguson Federal Credit Union in Monticello, MS has announced the grand opening of Mississippi's second ever Student Run, In-School Credit Union branch. In partnership with Lawrence County Public Schools, students at Lawrence County High School will have the opportunity to gain real-life experience and develop hands on cash handling and career skills. Prospective students were interviewed, selected and trained as credit union employees. Among several duties, these students will run their branch and teach fellow students and teachers how to manage their accounts and finances.

"Student-run branches have been a staple for quite some time in Credit Unions outside of the state, but this is a relatively new concept for Mississippi," said Leslie Pitts, Ferguson Federal Credit Union's President / CEO. "We are excited to be a part of this effort and look forward to this joint venture with Lawrence County Public Schools."

Educational Objectives of an In-School Branch

  • To create an educational environment in which young people will have hands-on experience in a financial setting.
  • To increase the knowledge of today's youth regarding money management and credit score management (establish, manage and protect their credit scores) through the use of presentations on savings, budgets, establishing credit and other financial management topics.
  • To create a new generation of savers by showing the importance of setting realistic savings goals and offering age appropriate savings programs.
  • To provide a supplement to current math, computer and social skills through experiences learned while working as a volunteer in the school credit union branch.
  • To teach the student volunteers life-long employment skills such as organization, human relations, cash handling and teamwork.
  • To introduce the importance of building a relationship with a financial institution.
  • To create an experience that reinforces a strong work ethic and financial responsibility.

Cougar Credit Union sponsored by Ferguson Federal Credit Union is located inside of the school near the cafeteria and will be open on Tuesdays and Fridays during lunch periods. This branch will also follow the posted school calendar and will not be open during times of exams, teacher workdays or in cases of school closure due to inclement weather. A ribbon cutting event is scheduled for Tuesday, October 13, 2015.

Students and faculty can open accounts and make deposits & withdrawals during the posted hours of operation. The student volunteers will be available for all transactions and Ferguson Federal Credit Union liaisons will be available for training and to make certain that accuracy and confidentiality are maintained.

For more information about Ferguson Federal Credit Union's Student-Run Credit Union program, please contact Peter Lanigan at 601-587-4037 x103 or email planigan@fergusonfcu.org.


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