BILOXI, MS (WLOX) - BILOXI, MS (WLOX) - Biloxi High students are about to run their own credit union. Biloxi High is teaming up with Keesler Federal Credit Union to open the only "in school" branch in the state of Mississippi. The grand opening is Monday.
The Biloxi Indian Credit Union will be staffed by honor roll students who have attended the KFCU MoneyTalks Program, as well as KFCU Orientation and Teller training. KFCU's Online New Accounts Rep will supervise the students.
The new credit union branch will provide "real-life career experience, encouraging saving money, and promoting financial responsibility," said Dawn Power, KFCU Financial Education Manager.
The Biloxi Indian Credit Union will provide full teller services to the teachers, administrators, staff and students at BHS. The student tellers will run a teller window and make deposits and withdrawals during the lunch hour.
The motto of the student-run credit union, is Smart Money Choices.
The students will receive one hour of classroom credit, as well as volunteer credit. They will also be peer instructors, helping fellow students become familiar with KFCU's online services.
In order to obtain approval to open a branch in Biloxi High School, KFCU needed approval from the Biloxi Superintendent of Schools, Biloxi School Board, and school principal, as well as, the Mississippi Attorney General.
"KFCU is proud to be a pioneer in this area for the State of Mississippi," Power said.
There are currently 796 credit union branches on school property in other states throughout the U.S. The concept began in 1991 and has slowly evolved since that time.