LAS VEGAS – Once there were more than 120 student-run credit unions on college campuses, but the number has dwindled to less than 20 and their demise "is troubling," according to the new head of the CUNA-linked Campus Credit Union Council. "I think there are valuable learning lessons lost on college students because we don't have those credit unions any longer," declared Gilbert Niimi, chairman of CCUC and executive vice president of Silver State Schools CU here. Niimi, who was elected CCUC chairman in February, said CUs across the U.S. have emphasized the "student-run" high school branch or CU campus facility staffed by its own personnel with student input, but there has less promotion of the college-run CUs. CUs in college towns, said Niimi, have preferred to simply place branches on campuses rather than devoting their energies to educating students on CU "values and career opportunities." In Las Vegas, Silver State, he said, is trying to get a student-run CU started at the Community Colleges of Southern Nevada, "and I'm hopeful that will happen" in the future, said Niimi. In the meantime at Community Colleges, Silver State is emphasizing a financial literacy curriculum on budgeting and "everyday finances" instead of the more common approach on how students learn to manage a future business of their own.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.