A local credit union has proposed a deal that would put Oak Harbor students on the road to financial literacy as well as place a satellite office within a school building.
Benton-Carroll-Salem Schools Superintendent Guy Parmigian and board member Heather Dewitz recently met with Commodore Perry Federal Credit Union representatives to discuss the idea. Part of the program would be education regarding savings accounts, using check books and accompanying registers and learning the ins and outs of loans, certificates of deposits and mortgages.
“This is a real world, real life opportunity for the kids. It’s part of their mission to be community-based,” Parmigian said of the credit union proposal. “The big picture is they would work with the kids.
Credit union officials asked the superintendent to take the proposal to the board to see if members were interested in pursuing the project.
“It’s an exciting opportunity … a learning lab situation,” said Dewitz, who believes the idea merits further exploration.
The BCS school system would not have to allocate any money over for the project and “The credit union has done this type of work with other schools,” she added.
Parmigian has asked for a list of those schools so that he can contact officials to get their spin on the advantages and disadvantages of the project. They also planned to see how such a program might be incorporated into the education system for class credits toward graduation.
“The hiccup would be the security issue,” Dusseau said.
Others wondered what was at the core of the credit union’s offer.
Board president Jamie Tooman asked what specific benefit does this kind of deal provide the credit union.
The program would get students comfortable with using a credit union versus a bank, and ultimately, they position themselves to possibly increasing their customer base, Dewitz surmised. Credit unions and banks vary in a number of different aspects.
The village’s only hometown bank recently merged with another banking company.
Had a local banking institution still existed here, board member Jeff Dornbush said he would have had a problem with considering this kind of collaboration with the school system.
Unlike banks, Dewitz noted, this credit union has a charitable organization of its own that acts as its own entity separate from the day-to-day business. The project would be housed within that arm of credit union.