Davenport West Opens Credit Union

September  12, 2013

Some high school students in Davenport are getting some real-world financial experience in more ways than one. A ribbon cutting is being held Thursday for the Davenport West Falcons Branch of the DuTrac Community Credit Union. 

District spokeswoman Dawn Saul says since first day of classes, students and faculty have opened 130 accounts with the credit union. 

"We're very excited because this not only offers some real-time work experience," said Saul, "Which the students will get credit for, they are actually getting some college credit for this ... But it's also an opportunity to bring financial literacy programs and financial education to the school."

Saul says this is the first credit union to open within an Iowa school. It's staffed by four students who are enrolled in the business academy, and one employee from DuTrac.

She says representatives from the credit union will teach classes about money management.

"The parents that we've talked to at this point," said Saul, "Are seeing it as a great opportunity for their student to have a small account of their own somewhere and learn about financial responsibility. Learn about managing their money on a smaller scale before they would go away, for example to college, and be more on their own."

The Davenport West Falcons Branch of the DuTrac Community Credit Union is open three days a week from 11 am to 1 pm. Saul says this is a pilot program which will grow over time, and possibly expand to other schools in the district.