Reading, Writing, and Taking Deposits

Westfield High School in suburban Boston, and Waubonsie Valley High School, in Aurora, Illinois have more than the usual school activities going on. A student's schedule might read, "1st period: World Affairs, 2nd period: Physical Education, 3rd period: Work As A Teller-Bank Branch".

In Illinois, the MidAmerica Federal Savings Bank opened a branch in the school that is available for students and teachers, and handles checking, and savings for students and loan processing for teachers. The students are the tellers, and earn $6 an hour, besides receiving credit toward graduation. Many of the students who particularly like the work are employed part-time at other MidAmerica branches. Some move on to permanent positions after graduation.

In Massachusetts, the Woronoco Savings Bank has run a branch at Westfield High since 1992. Woronoco says the branch is a source for new accounts and enhances their CRA rating through the service to the school and, therefore, the community.

Neither of the financial institutions makes any money at these branches, but both feel that making their presence felt at a local level makes a difference in their image, and the perception of their interest in the community.

Copyright © 1995 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 6, No. 1, 9/95