Credit union operated by students

Marketing project teaches students about financial literacy.

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By Marc Katz, Staff Writer 7:24 PM Wednesday, October 26, 2011

CLAYTON — As part of its marketing class, Northmont High School has opened a credit union inside the building.

“It provides us with some hands-on learning about banking,” said teacher Eric Wagner, who administrates the operation.

“Since I teach marketing, it seemed like a good fit.”

At the end of last school year, CODE Credit Union approached the high school about operating a student-run branch inside the school.

The branch is in a classroom and open Tuesdays and Thursdays during lunch.

Shannon McCullough, marketing director of CODE, said there is also a branch in Englewood and that the credit union and school administrators developed the details.

“So far, we have about 12-15 student members,” Wagner said. “We also have some faculty who use it. Some kids already had accounts. It gives them a place to cash or deposit checks during school time. It also teaches them financial literacy.”

The credit union is run by students and Wagner said it would probably gain in popularity as it becomes more known.

Also, in the current building, it is a little out of the way and students have to hunt for it rather than just walk by at lunch.

If the Northmont schools bond/levy passes next month, the new high school building might shave a more appropriate space.

According to the National Credit Union Association, only 12 student-run credit unions are in schools across Ohio, including five in the Dayton area.

In addition to Northmont, Centerville, Fairmont, Oakwood, and Miami Valley CTC also have student-run credit unions.

Contact this reporter at (937) 225-2157 or mkatz@DaytonDailyNews.com.

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