A Davenport High School is taking the concept of hands-on learning to a whole new level when it comes to personal finances. Davenport West High School has opened a branch of a local credit union in the school– making it the first Iowa school to do so.
The branch of the DuTrac Community Credit Union is run by four students one credit union employee. District spokeswoman Dawn Saul says representatives from the credit union will teach classes about money management to students. “The parents that we’ve talked to at this point see it as a great opportunity for the student to have a small account of their own somewhere, and to learn about financial responsibility,” according to Saul.
Students and faculty members have opened 130 accounts at the new credit union since school started. Saul says students are able to get started learning about money and finances while they have some guidance. “Before they would go away — for example to college — and be more on their own,” Saul says.
The Davenport West High School Credit Union branch is open three days a week. Saul says this is a pilot program which will grow over time, and possibly expand to other schools in the district.