School credit union branches are established as a financial education partnership between a credit union and a school or school district. They provide students with opportunities to learn money management skills, develop career skills, and encourage their peers to make wise decisions with their money. Many of the student credit union branches referenced below received financial assistance from the Minnesota Credit Union Foundation.
Minnesota’s student credit union branches include:
- HomeTown Federal Credit Union opened the state’s first student branch in 2011 at Owatonna High School. Students from the school’s branch also testified before the Minnesota Senate’s Commerce Committee in December 2014 – emphasizing the positive impact of the credit union as well as the individual benefits gained by student workers at the branch.
- Ideal Credit Union opened a branch at Tartan High School in Oakdale in 2013. This student branch highlights the credit union’s mission of providing avenues for financial education and giving students tools to prepare for life after high school.
- North Star Credit Union opened student branches at North Woods School in Cook in 2014 and South Ridge School in Culver in 2015. Both of these branches are located in K-12 schools and were guided with input from student focus groups that work with the credit union to teach financial education in the schools and staff the branches.
- Royal Credit Union opened a student branch at Eden Prairie High School in September 2015. The branch is staffed by students to provide traditional financial transactions, and will also be used as a facility for financial education opportunities. Royal will also work with the school to develop curriculum and classroom collaborations to support financial capability efforts.
- Hiway Federal Credit Union (Hiway) operates four student branches with the St. Paul School District. Johnson Sr. High opened in 2015, Highland Park Sr. High opened in 2016, Como Park and Harding in 2017. The branches offer students a hands-on learning experience in which students work at both the school credit union branches and Hiway’s consumer branches. Hiway envisions students becoming the teachers of financial literacy among their peers as well.
- Firefly Credit Union opened their first student-run branch at Burnsville High School in 2017. Firefly’s student-run branch heightens the opportunities available to current and future One91 students and enhances our Pathways model by providing authentic real-world learning possibilities to students interested in pursuing pathways in Business, Management & Entrepreneurship.
For additional information on school credit unions, contact Executive Director, Andrea Molnau.