Early spring, Tec Voc High School approached ACU to partner up and create a Student Run Branch.
The concept of establishing a student-run branch reflected our mission and values in providing financial access and education to our youth & community. After 9 months, Stingers opened its doors on December 2, 2014.
Stingers Credit Union Facts:
- Branch Name — Stingers Credit Union, a name that coincides with the store and school mascot, the Hornet.
- Branch Location and recycled furniture
- Branch will be located in the same vicinity as the school store
- 2 MSR stations and 2 office desks from the Whyteridge branch have been relocated. The branch is set up and currently under renovations to match with the school colours and store.
- Forms & Procedures
- Tec Voc High School applied for a $14,000 Future Generation Tech Lab Grant offered by Future Shop and was one of nine selected schools across Canada. The additional funding will improve their classroom technology and elevate student learning. As a result, they are taking the initiative to create a paperless branch environment and will budget for the needs of the branch.
- Member Service
- Branch will be open for 30 minutes a day during the lunch hour
- 2 students will be assigned to work at the credit union on rotation as part of their credit towards Business Courses or Accounting
- Services available will include Membership/Account opening, Youth/Student chequing and savings, direct deposit, online and telephone banking, member card services and direct deposit
- ACU Staff Impact
- The Manager, Financial Access Programs will be the direct contact and primary support of the partnership. In addition, this individual will be accountable for operational support, student training and executing financial literacy within their curriculum.
- Transactional services will be conducted at the Keewatin Branch.
The long-term goal of the partnership is to provide marginalized youth the opportunity to build confidence and leadership skills, to gain credit union employment experience, and to develop financial literacy needed in preparation for graduation.
Below is the speech that was given by Kathleen Mira, Branch Manager of Stingers and the teacher responsible in initiating this dream for the students of Tec Voc.
John Adams said, “there are two educations. One should teach us how to make a living and the other how to live.” This wonderful new partnership with Assiniboine Credit Union will do just that.
For our magnificent new Stingers Credit Union staff—Amber, Anmarie, Jamie, Wencel and Mikhaella—and for all staff that will follow. This partnership offers hands-on real life experience to reinforce their classroom learning. It is just not accounting class anymore with repeating debit and credit theory and journalizing and the dreaded posting. That can get dry real fast. They are learning skills that will help them “make a living”. Lifelong learning skills such as organization, teamwork, and leadership that will shape their future and working lives. They are gaining invaluable financial literacy skills. It’s really amazing just in training for Stingers Credit Union how their public speaking, professionalism, leadership and teamwork skills really developed and will continue to do so. They are excited to go to “work” which is a really cool thing. I’m just so proud of them all.
For the student body at Tec Voc—learning “how to live” by gaining useful life skills with something as simple as having a chequing or savings account and knowing how to use it. Many of our students do not have bank accounts nor are they aware of the importance of budgeting, saving, goal setting, and planning. With Assiniboine’s Financial Access Program and our Credit Union, we can give students a safe environment in which to access financial services. We can provide financial literacy information—from setting a savings goal to reading their online bank statement. A financial literate teen will translate into a financial literate adult. This partnership is a chance to give the disadvantaged, underserved but yet so very deserving Tec Voc student priceless life skills. The benefits of which will reap for years.
— Kathleen Mira