Brandon Twp.-Nicholas Hanson, 10, is saving his money for a cruise.
Every other Friday, the Harvey-Swanson Elementary fourth grader deposits his allowance into his savings account? at school.
Nicholas is one of many students taking advantage of the partnership, begun in 1991, between the Clarkston Brandon Community Credit Union and Brandon Schools.
On different specified days, credit union employee and school teller JoAnn Tumey, goes to the elementary schools and intermediate school and oversees student workers as they accept deposits from other children.
‘The intent is to teach kids financial literacy? get them in the habit of saving and not spending all their money,? Tumey said of the program, which also supplies teachers with workbooks for the kids. ‘It’s easier to teach it when they’re younger.?
The program also teaches kids about the world of work. At the beginning of every school year, kids apply for positions at the school credit union, are interviewed and then run the school credit union all year. Five tellers wait on kids? putting in account numbers, placing money in a cash box and balancing their drawers with deposit slips. A head teller counts the whole deposit and balances it. Five computer operators get data from each teller’s deposit slips and key it in. Children assigned to public relations place advertising posters around the school or use the public address system to promote the credit union. Class representatives escort students from each class to the credit union, usually set up in a school hallway.
Emily Wheatcroft, also a fourth grader at Harvey-Swanson, is the school’s credit union manager.
‘I like that I’m a busy worker,? she says. ‘I’m very happy to work here. I make my own deposits, too. I deposit allowance, birthday and Christmas money.?
Tumey says the schools average 50 transactions when they have a credit union day. A few weeks ago, Belle Ann Elementary students deposited $355.
Nicholas says he usually deposits $10-$20. He will leave for his Mexican cruise in January.
‘I won’t take all my money out? probably only half,? he said. ‘I like the credit union. You save your money and know it’s in a safe place.?
Details: (248) 627-9944.