Dearborn FCU heads back to high school with new branch

<p>DEARBORN, Mich. – There’s a new Dearborn Federal Credit Union branch in Wayne County and it is making history. The first high school student-run credit union branch in the county has recently opened its doors for service. In conjunction with the Business Academy of Dearborn High School, DFCU is offering the new educational opportunity to students. Though operated and run by students from the school’s Personal Finance class, DFCU staff member offer guidance and share their knowledge when needed. “Students working in the branch will learn about money management issues and how to run a business,” said DFCU President/CEO Mark Shobe. “Those students who join the credit union here will learn how to manage their finances by developing good savings habits and using credit wisely.” Student staff members must all participate in the High School Financial Planning Program developed by the National Endowment for Financial Education. The program teaches students skills to manage money and set financial goals for the future. DFCU personnel serve as guest speakers, bringing their expertise to discussions of financial issues covered in the program. “We hope that by interacting with their fellow students in familiar surroundings, the Dearborn High students will be comfortable asking questions about financial services and learning how to make wise decisions,” said Dearborn H.S. Business Academy Manager Pam Phillips. “Financial education is critically important because today an alarming number of young people are in serious debt. It is the number one reason students cite for dropping out of college. DFCU serves $165,000 members and has over $1.3 billion in assets.</p>