North Jersey Federal Credit Union will open a student-run branch at John F. Kennedy High School in Paterson, N.J., on Jan. 18.

Called "The Castle" after the school's mascot, a knight, the branch will be operated by 27 students from grades 10-12 enrolled in the high school's Business, Technology and Marketing Academy. The students have undergone training and will be supervised by district staff as well as representatives of the credit union. They will also come up with their own promotions and initiatives.

The branch will be open three days a week for students as well as Paterson Public School employees.

"This banking program gives students practical experience beyond the classroom and is one of the first steps to not only helping them achieve curriculum standards, but also to have a solid knowledge base for their financial futures," the credit union said in a statement.

New Jersey state curriculum standards require that all students develop personal financial literacy skills including financial planning, savings, investment and charitable giving.