From Harford County Public Schools:
A ribbon cutting ceremony today at Edgewood High School marked the grand opening of the Edgewood High School/Academy of Finance Ram Branch of Aberdeen Proving Ground Federal Credit Union (APGFCU), the first student-run credit union in the county. Comptroller of Maryland Peter V. R. Franchot, Board of Education of Harford County President Leonard D. Wheeler, Superintendent of Schools Robert M. Tomback, APGFCU Board Chair David H. Gilbert and APGFCU President/CEO Don W. Lewis, among many other Edgewood High and school system staff, were on site to celebrate the event.
The Ram Branch will be open to Edgewood High School students and staff 52 days during the school year, scheduled around the school’s lunch periods. Academy student teams will work at the branch, under the supervision of the Academy’s coordinator and APGFCU representatives.
Juniors and seniors currently in the Academy of Finance (AOF) at Edgewood High will serve as the tellers and run the daily operations of the credit union, including basic savings and checking account activities like deposits, withdrawals and transfers. The students will also handle member service functions, such as opening new accounts and explaining credit union promotions.
The students were required to apply for the teller positions, interview and attend extensive training. The training, provided solely by APGFCU, was all-inclusive to running a full-service credit union branch. While the student tellers will not earn monetary compensation, the experience they will gain is invaluable. This is a phenomenal opportunity for the students to take what they are learning in the classroom and apply it to a real-world experience, as all aspects of working at the Ram Branch will tie directly back to each core class taught in the AOF.
When asked why he would like to participate in the student credit union, Edgewood High junior Malik Gilmore stated, “… I believe it will enhance the student body and the community’s financial literacy. Having this opportunity will give me hands-on experience in an actual business environment, which can be a lucrative investment for my future. I would appreciate this because it could bring well deserved credibility to Edgewood as a community.”
Edgewood High junior Chassidy Cage shared similar sentiments when applying for her position at the branch.
“This opportunity helps us gain job experience and everyday skills, like communicating with people and gaining confidence. Most kids my age would never get an opportunity like this and I am glad I get this opportunity which can have a big impact on my life.”
The AOF at Edgewood High School is designed to prepare students to enter college having already studied many areas required for a degree in the fields of business and finance or to enter the world of business at above entry level upon graduation from high school. Students gain firsthand experience in the challenging world of finance through a culminating paid internship program. The AOF at Edgewood falls under the umbrella of the National Academy of Finance (NAF), a nonprofit organization established in response to a growing demand for industry-validated curricula and cutting-edge instructional techniques in the finance arena. NAF is a leader in the movement to prepare young people for college and career success and has refined a proven educational model which includes work-based learning experiences.
“All HCPS students are receiving a foundation for personal financial literacy through instruction,” said Harford County Public Schools Superintendent Robert M. Tomback. “However, the students graduating from the Academy of Finance have a distinct advantage over other graduates because they have gained real and relevant work-based experience and professional financial literacy.”
Not only does the Ram Branch benefit the students involved and the school population as a whole, it also highlights a strong community partnership with APGFCU.
“This student-run branch exemplifies our core value to give back to the communities we serve,” said David H. Gilbert, chairman of Aberdeen Proving Ground Federal Credit Union. “APGFCU has been formally recognized as a leader in Harford County, the state, and the nation for our youth financial literacy efforts. We have a long history of partnering with local schools to provide financial literacy education that helps students build healthier financial lives, which in turn, builds stronger communities.”
While other counties have opened similar student-run credit unions in their high schools, Edgewood is proud to be home to the first one in Harford County.
“The goal of every high school is to provide students with opportunities intended to prepare them for the future they envision for themselves,” said Edgewood High School Principal Larissa L. Santos. “The Academy of Finance is just one more way that Edgewood High is providing students with the opportunity to do just that.”
“The secret to financial literacy is ‘Begin when they’re young.’ With over 17% of our members under age 18, we’re committed to providing financial education to young people,” said Don W. Lewis, president/CEO of APG Federal Credit Union. “The opening of this student-run branch is the realization of a long-term vision. I thank our board of directors and Tina Mike, APGFCU’s assistant vice president of financial education, for their commitment to education and empowerment.”
Outfitted with the normal security measures put in place by financial institutions, the School Resource Officer and administrative staff of Edgewood High School will provide additional security support to the branch. Putting such measures in place ensures a safe operational environment and effective learning experience for all who participate in and utilize the services of the RAM Branch.
For additional information about the Edgewood High School AOF program, please contact the Coordinator, Carolyn Kustanbauter, at 410-612-1500, or the Supervisor of Business and Technology Education, LaVerne Pitts, at 410-588-5244.
Let me get this straight. The students will be handling all the transactions of a bank, BUT NOT GETTING PAID. APGFCU will be getting money and making money on this “learning” experience, BUT THE STUDENTS WILL NOT BE GETTING PAID. How in the heck can APGFCU claim that the students are getting the experience and will take this with them. Why not have any business come into a school and get free labor and say it will help them in the future. What happens if some money goes missing? What’s gonna happen to the student……suspeneded….in the real world the police are called and the individual is arrested. These are people under 18. Also, this seems to be a marketing ploy, by someone to get the students to say, Hey…I know APGFCU and will continue to be a member. I for one think this is a BAD idea and why the heck are there people supporting this idea.
Wonder how much the APGFCU is making on this one? We cannot even get our bonus and now we are letting a private company come in and make money. GEEEEE wonder if this is going to really help the students? Why not bring Chuckie Cheese in to show management skills. I for one, DO NOT, want to deal with children and money in school. That is a disaster waiting to happen. Just look what happened at our other school. Oh…short memories.
Teacher,
It is a great idea. Your reference to Patterson Mill was a little different because that was incompetent administration mis-handling the money. Maybe these student could go over to Patterson Mill and straighten them out.
APGFCU Member, Even though you are an APGFCU member they don’t have to ask you. If you would learn a little about the whole program before you spout off you might learn that it is a great program that includes internships a lot of places. The program is one of the best things HCPS is doing. They should be doing it everywhere. I am celebrating that it is happening at Edgewood. They need it, they got it, and they are benefiting from it. Get a grip!
I think this is a great idea.
Somehow I think if this branch opened in CMW or BAHS the comments would have a different flair.
Of course the student workers don’t need to be paid, it’s called an internship. Any student looking at a career in finance or businees is going to have to work from free somewhere along the way in an intern capacity.
This is a great learning experience and wonderful addition to the Finance Academy at EHS.
Are you kidding? An intership at a Bank that is for profit. Yes the idea is good, but why are they just having the APGFCU doing the bank. Wonder if I can use the “bank” if I am in the area. I did my internship at a museum. Again, what about if some of the money goes missing? Are we gonna have to make up the loss and then the school system will spin the loss into something as “Oh Well, they are kids.” I am sure the school resourse officer (HCSO) will have their hands full. I take offense to you saying about CMW or BAHS. I would say the same thing about that. What comment are you referring too just because it’s EHS?
Credit unions are NOT for profit, they are much different than banks are.
http://www.apgfcu.com/aboutus/index.asp
“What is a Credit Union?
Credit unions are not-for-profit financial service cooperatives, owned and controlled by their member-owners, and operating in a democratic way. “
Students of this age group handle cash at after-school jobs all of the time. And yes, internships happen at for-profit companies, EVERYWHERE. No finance, accounting, or business major can get a job with a major company without usually getting there foot in the door by completing an internship. As a “member” of APGFCU, you should know that credit unions are not “for-profit” entities like banks.
You are just finding a way to degrade a Rt. 40 school, just like so many others that live in this county. And I’m not afraid to call you out on it.
Abingdonteacher, I think this is a excellent idea, however your inference about AFGFCU Member’s prejudice toward EHS is uncalled for. Perhaps it is you who is prejudice.
@abingdon teacher……your the one who brought the reference to if it was a CMW or BAHS. So I think your the one who needs to be called out. I beleive in giving everyone, no matter of color or religion, a chance to grow and become part of the American Dream. It’s teacher’s like you that make suttle references to making sure there is a “difference”.
FROM ABINGDON TEACHER:
Somehow I think if this branch opened in CMW or BAHS the comments would have a different flair.
Of course the student workers don’t need to be paid, it’s called an internship. Any student looking at a career in finance or businees is going to have to work from free somewhere along the way in an intern capacity.
This is a great learning experience and wonderful addition to the Finance Academy at EHS.
Report
Posted by ABINGDONTEACHER | February 3, 2012, 1:40 pm Well-loved. 6 1
Those are your own words. I think its great that the students are getting the experience. Does anyone remember the dagger printing about patterson mill and how there was money missing? I’m sure the dagger printed that one. Also, why is APGFCU allowed to be the only one in the county to be able to make money off of students labor and funds? THAT IS MY CONCERN. NOT THE COLOR OF THE PEOPLE OR THE ECONOMIC MAKE UP OF THE PEOPLE. THERE ARE MANY PEOPLE IN THIS COUNTY THAT MAKE COMMENTS ABOUT THIS SIDE OF THE TRACKS AND IF ONLY IN EDGEWOOD. I FOR ONE WOULD NOT AND WILL NOT THINK SOMEONE ISN’T GOOD ENOUGH BECAUSE OF THEIR PLACE IN LIFE. WHAT WOULD HAVE HAPPENED IF MARTIN LUTHER KING, JR WOULD HAVE GIVEN UP? So please don’t make comments about being in Edgewood.
APGFCU MEMBER, you are obviously misinformed. Credit Unions are a not for profit business, banks are a for profit business. Please do some research before you post. Thank you.
my bad…..forgot that they are not for profit, but when did the members agree to this plan. My objection is to have the credit union at the school and using students, who are not paid, working. Yes and intership is good but why only APGFCU. Not to mention about workman’s comp. I think this is a bad idea and they should look to the other school that dealt with money. This plan is a bad idea because of a number of reasons……let alone what type of security is there going to be at the school? A school resourse officer. If it is operated in a democratic way? Yeah
This could be a great learning experience for the students. I’m sure that it will be overseen by school staff and have to operate under the guidelines and rules for credit unions.
What’s the big deal here? Exactly what are your fears regarding this experiment?
It is called worker’s compensation not workman’s compensation. And how might they get injured? Paper cut?
if you get hurt at work…workman’s comp. A papercut can become infected and you can get workman’s comp for going to the doctor. Trust me there are people out there that would take the system for lots of mone. Oh and it’s called workman’s comp. Been dealing with it for years. Also, you cannot use your private insurance to claim injury at work. Denied.
APGFCU MEMBER,
Well if you have been dealing with it for years then it is really too bad that over all of that period of time you never have known the correct name for it. If you will go to http://www.wcc.state.md.us/
you will see that it is MARYLAND WORKERS’ COMPENSATION. Sorry to shout but dealing with someone who insists that they are right when they could just Google it is more than a little frustrating.
As Paul usually says, have a nice day.