“I honestly learned how much financial literacy matters,” she said.
This year, Gov. Mike DeWine signed a state budget into law that features a provision that lets school districts permit students to participate in student-run credit union or bank branches to meet a financial literacy graduation requirement in lieu of classroom instruction.
Abbey Credit Union, Inc., CODE Credit Union and Day Air Credit Union all had employees sing the program’s praises at Day Air Ballpark Monday.
Dzhavriyeva said she learned about using checking and savings accounts, the distinctions between a traditional Individual Retirement Account and a Roth IRA, dealing with peers professionally and the all-important discipline of spending less than you earn.
“For the students who have part-time jobs, taking a percentage of your paycheck and putting into a savings account — I learned a lot of things that I didn’t know would benefit me so much in the future," she said.
The idea isn’t new. FirstDay Financial Federal Credit Union opened a student-run branch in the Miami Valley Career Technology Center back in 2008. The CODE Credit Union branch at Stebbins opened in 2022, operating two days a week for students to deposit and withdraw funds.
But the most recent state budget restored House-passed language that let students meet financial literacy requirements for graduation by participating in a student-run credit union or bank branch.
The language had been removed initially by the Senate, but was restored in House-Senate conference committee, the Ohio Credit Union League said.
Matt Keyes, a spokesman for the league, said the program lets students open and use their own credit union accounts, overseen by teachers and the credit unions themselves.
Student-run branches are operated by students with oversight from credit union staff. The idea is to give students a hands-on opportunity to learn about finances and how to run a business, advocates say.
Amy Cline, director of member services for Day-Air Credit Union, said her credit union has partnered with schools since 2007.
“It’s been a great opportunity for Day-Air to get into the schools, to work with the students, to teach them real-life financial education, give them that real-life experience,” Cline said.
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