“Our main objective is financial education, and it's through our financial education initiatives we've been able to reach over 31,000 students with various levels of financial literacy,” VyStar Credit Union High School Branch Program Manager Michael Rathjen stressed.

That's not to say that in-school branches are total drains, however.

The Jacksonville, Fla.-based VyStar, which runs 13 high school branches, has gained a little over 6,000 members from its program in the last 10 years. The Lake Mary, Fla.-based CFE Federal Credit Union, which runs six in-school branches, has opened about 6,500 student accounts since it started its program a decade ago. And Summit Credit Union, which is headquartered in Madison, Wis., and runs three high school branches, averages roughly 100 to 115 new members per school per year.

“That does not include, though, faculty, parents and students who then go to a nearby branch and open up their relationship there,” Summit Sales Manager Jenna Gordon noted.

2. Set aside money for buildout.

That can run $100,000 to $200,000 or more, according to the credit unions. It's significant, but it's far less than the cost of a typical branch.

But be prepared for compact, one-of-a-kind layouts. One of Summit's branches shares space with the school store, for example; its biggest in-school branch lives in a 30-foot-by-20-foot space, Gordon noted.

“That's not a huge space to begin with – it's, you know, kind of an oversized closet, if you will. The size of a bedroom,” she said. There's room for a vault, an office for private conversations and a teller pod, she noted.

One credit union recommended a minimum of 800 square feet, which may be why vacated classrooms sometimes also become branches. “It would look no different than if you were to walk into one of our regular branches, just on a much smaller scale,” CFE Regional Director of High School Branches Megan Jackson said. The credit union also paints one of the walls of each branch in the school colors.

Summit CU advertises a promotion in its Memorial High School branch in Madison, Wis.

3. Find the gatekeepers.

In-school branches often require a green light from the school board and buy-in from the school's principal and faculty.

“We have an agreement that we've had drafted, and we approach the school board and the school superintendent with our agreement. We get permission from the school board. It's actually an agenda item for the school board to discuss and to consider. We've presented at school boards before, during workshops and open meetings, and the school board has to vote on it,” Rathjen explained.

The school faculty can be a huge ally and catalyst. Summit's program, for example, started from conversations with two teachers who wanted a program at their school.

No matter the route, everybody – including credit union leaders – has to be on board. “You've got to make sure that the principal and the school is supportive of this program. It takes a lot of resources, a lot of manpower, and time and effort. Without the support from the credit union and the school, the program will fail or will not be as successful as it should be,” CFE Chief Development Officer Linh Dang warned.

4. Design a program.

Branch operations are important, but remember, the bigger goal is to boost financial literacy and teach real-world skills. At CFE's in-school branches, students contact a teacher coordinator if they're interested in working at the branch. CFE's human resources team then interviews the kids, Jackson explained.

“They will have to create a resume and a cover letter that HR will then review and critique, and share some tips with them,” she said. The HR department then works with the teacher coordinator to select the students and do orientation.

“This is a class period that the students will work and it's rotated out, so it's just like a class. They go in and work during lunch or first period. So each class period is a new set of students,” she said. “I think another thing that has been a great way to provide success is identifying a 'sister branch' that offers assistance to the high school, which starts building a mentorship with the students.” 5. Have a coordinator.

High school branches aren't really side projects. By the time VyStar had seven or eight in-school branches open, for example, the credit union realized it was time for a full-time coordinator, Chief Member Services Officer Randy Swift said.

“When we first started the program, the branch VP supported the program. And so they did their normal job during the day and the branch VP supported it,” Swift explained. But word of the program spread and the branch count grew. “We continued to put that under the responsibility of a branch VP, and word spread again and we had more high schools that wanted to join. And we kept it under a branch VP's responsibility – who did a wonderful job – but this was really a full-time job.”

6. Watch them fly.

All of the credit unions we spoke to said one of the most rewarding parts of in-school branches is watching students blossom. Many have since become employees; several others have gone on to study accounting and finance.

“I personally know of students who've been recruited from our program by other companies,” Rathjen added. “They'll call the teacher and say, 'Hey, I need one of your VyStar students. Do you have someone who's graduating who can work at a cash-planning firm or a law firm?'” The credit union has also hired more than 30 of its own program graduates, he said.

For Rathjen, that's the real success. “The primary focus is reaching today's youth with financial education and helping them be more informed for their futures,” he said.