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TLDR:
Plattsmouth High School in Nebraska has partnered with Cobalt Credit Union to open the state’s first high school credit union branch. The branch is operated by students and supervised by Cobalt staff, providing hands-on financial lessons and real-world experience. This initiative is in response to the Financial Literacy Act, which requires one semester of personal finance education for graduation from Nebraska high schools.
Plattsmouth High students learn hands-on financial lessons at on-site credit union
Plattsmouth High School in Nebraska has opened the state’s first high school credit union branch in partnership with Cobalt Credit Union. The on-site branch is operated by students and supervised by Cobalt staff, offering hands-on financial lessons and real-world experience to students. The initiative is a response to the Financial Literacy Act, which mandates one semester of personal finance education to graduate from Nebraska high schools.
Plattsmouth High School students Daniel Barajas and Micah Wehrbein are two of the students responsible for running the credit union branch. Barajas, a junior, plans to pursue a career in the trades after graduation but recognizes the value of this unpaid experience. He now pays closer attention to his own finances, checking his balance regularly and budgeting for expenses such as gas.
The school credit union helps students with tasks such as opening checking and savings accounts, answering financial questions, and making deposits. Currently, students can deposit cash at the high school branch. The introduction of the Financial Literacy Act this school year has made these lessons even more relevant, as students learn about personal finance in class and can directly apply it at the on-site credit union.
Both the school and Cobalt Credit Union have plans to expand financial literacy education by incorporating in-class presentations and other elements. Cobalt managers hope to implement similar credit union branches in other schools across the state, providing more students with real-world financial experience and knowledge.
