Sikorsky Credit Union is continuing its partnership with the Business Education Support Team (BEST) Program of the Stratford Chamber of Commerce to promote financial literacy at Stratford High School. Pictured: Bob David, board member at Sikorsky Credit Union; Elaine Watson, assistant superintendent of Stratford Public Schools; Brittany Blake, youth initiative coordinator at Sikorsky Credit Union; and Michael Shirling, vice president of retail delivery at Sikorsky Credit Union.
The recent financial crisis exposed consumer behaviors that show very low levels of financial literacy across the nation. People are taking on more debt than they can afford, and often, this debt load starts with college loans. According to the Center for Financial Literacy, it’s critical that financial literacy education be well established in high school.
Staffers at the Sikorsky Credit Union aim to improve the financial acumen of the state’s high school students with an innovative, hands-on solution: in-school branches in several Connecticut high schools. “We saw a need for financial education,” explains Mike Shirling, Director of Retail Delivery, who oversees the operation of the high school branches. “And we decided to partner with schools to solve it.”
Credit Union’s branch at Stratford High School is in its second year. It operates from 11 a.m.-12:30 p.m., on Wednesdays and Fridays for students, faculty and staff. “Having Sikorsky Credit Union here helping to facilitate our students’ understanding of financial literacy has been a wonderful addition to Stratford High School,” said Joseph Corso Jr., principal at Stratford High School.
While it is not open to the public, those within the school can transact financial business of any kind during branch hours. The branch is staffed by a Sikorsky Credit Union employee, along with paid student apprentices, who will be learning about credit union operations and are actually part of the Sikorsky Credit Union staff. Over the course of the school year, three different students will be working as apprentices and acting as Credit Union ambassadors within the school, facilitating projects to help build financial literacy and get their peers involved in real-life financial issues.
“Financial Literacy is very important, and having our branches in our high schools gives students many great opportunities to learn skills that will stay with them for their entire life.” notes Shirling.
Sikorsky Credit Union also operates branches in Oxford and Seymour High School.