Credit Unions Go to School

You may have gotten flyers for it to take home in your backpack or passed by a table at lunch and not given it a second thought. But if your middle /junior high school has a student-run credit union, you might want to think about it a bit more.

Tons of schools across the country have either student-run credit unions or school branches. The difference? A student-run credit union is just that, kids volunteer and help run an in-school credit union. A school branch is basically a monthly visit from your local credit union to help kids like you save.

Money Skills and More

School districts team with credit unions to give the schools and students the opportunity to not only save, but to learn some real life money skills as well. Not sure if your school has a student-run credit union or branch? Ask a teacher or your principal. If it doesn’t, it might be worth looking into starting one up. There are lots of things you can learn by helping to run a credit union at your school:

  • Cash handling
  • Customer service
  • Cooperation
  • Organization
  • Marketing/Advertising

Having a credit union at your school can also be fun. If your school district has more than one student-run credit union, you can hold competitions between schools to see which one can save more or open more accounts. You can also hold contests within your own school to reward kids to save. Believe it or not, saving can be fun!

Do You Know?

What is a Credit Union?

A lot of kids your age haven’t even heard of credit unions. But even credit union members like you don’t always understand exactly what credit unions really are or what makes them different from banks.

Credit Unions:

  • Are not-for-profit, which means any money they make goes back into the credit union and members as better loan rates and fewer fees.
  • Are member-owned, so when you belong to a credit union you actually have a say in what happens to your money!
  • Are known to have pretty much all the same products and services as banks.
  • Are tightly regulated by the government to protect consumers and members.
  • Are federally insured by the National Credit Union Administration (NCUA), so your money is safe.
  • Are known for having some of the best customer/member service around!


  • Are for profit, so any money they make goes to the stockholders.
  • Are a business where you’re just a customer.
  • Are known to charge customers a more when it comes to loan rates and fees.
  • Are tightly regulated by the government to protect consumers.
  • Are federally insured by the Federal Deposit Insurance Corporation (FDIC), so your money is safe.

Click here for a great infographic that shows the difference between banks and credit unions.



Where do you have an account?