JACKSONVILLE, Fla. – As part of his ongoing Your Money Matter$ initiative, Florida Chief Financial Officer Jeff Atwater commended teachers and students at Wolfson High School's magnet school Friday for offering students a solid financial future through real-life experience and hands-on training via a VyStar student-run credit union on campus.
Wolfson High School's Academy of Business, Finance and Law, which began in 1991, has 160 students in the program that includes specialized finance courses, on-the-job summer internships and various activities that give students the opportunity for an in-depth study of financial services.
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VyStar Credit Union partnered with the school to launch Duval County's first campus branch as a way to further the financial lessons being taught in the classroom. It now employs 11 students.
"I would like to commend these students for taking the initiative in preparing for their own futures, and I applaud Wolfson High School and VyStar for creating this practical, hands-on learning experience," Atwater said at a news conference held in the credit union. "As we educate and empower our young people about financial situations they may encounter in their lives, we are decreasing the rate of bankruptcy while giving their generation a jump on achieving financial success."
The students who are employed at VyStar open accounts, make deposits and give advice to other students about saving and budgeting. They also conduct all types of transactions just as typical VyStar employees, except making loans. In addition to operating the branch, students also are provided a marketing budget and are responsible for devising their own marketing plans, including student-delivered classroom financial literacy presentations.
"The 'Wolfpack' is honored to participate in the community partnership with VyStar Credit Union," Wolfson High School principal David Garner said. "And as the students selected to work in the branch are actually VyStar employees, they have an opportunity to work in their neighborhood branch and earn a paycheck. What a unique opportunity to earn money and learn about money management in the same high school program."
For more information or to access financial tips, calculators and information, visit Atwater's Your Money Matter$ website at www.MyFloridaCFO.com/YMM.