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Student Led Credit Union Opens at Phoenixville Area High School

School officials are touting it as a hands-on way for students to learn financial literacy.

The following was provided by the Phoenixville Area School District. 

Public schools are always looking for ways to connect students with their learning. At Phoenixville Area High School, students now have a unique way to learn financial literacy. 

Apex Community Federal Credit Union has opened the Apex Phantom Branch in the high school. While housing a credit union within a high school is not a new concept, this will be the first student-led credit union in the area. Students went through a formal interview process, six were hired and are currently in training.

“The learning that will take place for these students is beyond anything we can offer in a regular classroom setting,” said Dr. Alan Fegley, Superintendent of Schools. “Our students not only will learn about financial literacy, they will be involved in operating a business, and acquire skills that will make them work-ready,” Fegley added.

The Phantom Branch is open to all district employees as well as students, and is a fully-functioning credit union. Free Checking Accounts, Free ATM/Debit Card, Free Home Banking with Mobile Banking, Auto Loans, and Credit Cards are some of the services available.  

Dave Cocci, President and CEO of Apex stressed that they too are viewing this as an opportunity to educate students. 

“For Apex, this is about the future,” said Cocci. “We’re excited to actually get into the classroom and talk with students about the importance of establishing good banking habits and the dangers of a bad credit score.”

At the Grand Opening Ceremonies on October 1, both Dr. Fegley and Dr. Craig Parkinson, Principal at Phoenixville Area High School opened accounts. 

Dr. Parkinson encouraged students to “take advantage of this tremendous opportunity” and expressed how pleased he is to have the Phantom Branch in his school.  “This is just one more way we are working to make Phoenixville Area High School the very best it can be,” said Parkinson.

Laura Schwartz October 04, 2012 at 06:41 PM
Wonderful!!! I have lost count of the number of parents, teachers and others I have spoken to over the past few years that people need to learn financial literacy BEFORE leaving high school. The excuses I've heard have been astounding, ranging from, "They'll learn it in college," to "Their parents should be teaching them." Well, those that need it most often don't go to college and, with more than half the population of our country in deep debt, it would appear that most parents aren't knowledgeable about their finances and credit scores, so how could they be expected to teach their offspring how to do things correctly? People are always so reluctant to admit they don't know how to do something, especially something that deals with money, but handling finances is a LEARNED skill; most people are not born with the ability to do it perfectly. It's like riding a bike, you have to learn or you will continually fall. I am so pleased that PAHS has taken this step. Good luck to all involved!
Jaxxon October 04, 2012 at 10:03 PM
Great work!

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