The Student-Run Credit Union Program

By Community Financial & Michigan School Districts

Community Financial is proud to partner with school districts all over Michigan to bring fun, real-world financial education to 1st through 12th graders all throughout our communities! In decades of running this program we’ve seen the difference that learning by doing can make for students and their future. We now help run Student-Run Credit Union programs in 57 different schools, with learning opportunities that just keep growing!

Open your 12 and under student account here! 

Open your teen student account here!

Learning by Doing

The Student Run Credit Union teaches savings-smarts by giving them access to their very own real savings account that they can make deposits to right at school – with other students working as the tellers, managers, marketers, and accountants! All overseen by Community Financial team members and school employees, of course.

How it Works

Students who participate in their school’s Student-Run Credit Union will have the chance to deposit money into their provided Community Financial savings accounts during school once per month! Deposit booklets are provided for their use, and receipts of deposit are sent home so that parents can keep track. They’ll also get to take part in classroom lessons and fun activities that are tailored to their grade level!

Students can participate year after year, so long as their school is a Student-Run Credit Union partner. Their savings get to grow along with them!

Our high school version of this program offers the same opportunities, with personal finance lessons that go into more depth to help them prepare for the future. The savings account that they’ve been funding helps too, of course.

How to Join

As long as your student’s school is a Student-Run Credit Union partner, joining up is easy and can be done at any time! There are no fees, and no minimum balance is required.

Please note that the student is the first member on the account. Dividends will be reported to the student’s social security number. One parent or guardian must be joint on the account, but both are welcome.

Student Credit Union Operators

Students can take their involvement and financial learning even further by applying for one of the many positions at their school’s Student-Run Credit Union! Community Financial team members will teach them the responsibilities of their role, why their position is important, and how the skills that they’ve learned will help them in the future. Our team members will be right by their side ensuring that everything operates smoothly.

If your student would like to apply for a role in their school’s credit union, have them print and complete the proper volunteer application below! Completed applications should then be submitted to their teacher or the school faculty member handling their Student-Run Credit Union program.

Student volunteer applications coming soon!

The Savings-Success

Community Financial has been partnering with local schools for our Student-Run Credit Union program for 30 years, and we look forward to many more! Since its inception, the program has grown to 57 different schools and impacts thousands of Michigan students each year.

Many students who participated in the program continue their accounts into adulthood, taking advantage of the same smart saving strategies they picked up years before. Occasionally we’ll even hear stories from former participants about their time using or helping run the credit union, and how the experience contributed to their healthy financial habits as they’ve grown. Witnessing their success and seeing the impact it has on their communities as a whole is what drives us to keep improving this program year after year. Seeing students have fun while learning how to save helps too, of course!

Beyond the Student-Run Credit Union

We love watching Michigan students succeed, so our Student Run Credit Union isn’t the only tool we have for learning about money! Greenlight is a debit card designed for students that puts parents in full control. Add allowance money to the card automatically with the Greenlight app, and even create chore lists that pay out as things get checked off! Parents can also monitor their student’s spending, with real-time notifications to keep you in the loop about their progress! Check out Greenlight to learn more or get started!

Teenage Students

For students in their teenage years, our Student CloseEnuff™ checking account offers an easy way to manage first-job paychecks while protecting against tricky overdraft fees. It also happens to feature some limited time bonus cash!

The Student-Run Credit Union Team

With so many schools, students, and savings accounts, keeping the Student-Run Credit Union operating smoothly is hard work – but we’ve got it covered! Meet the dedicated Community Financial team members heading up the program and looking out for our students’ success!

If you have any questions about the program, or you represent a school that is interested in the Student-Run Credit Union to your district, please contact impactsupport@cfcu.org.