Cougar Branch Trains in Money Management
New Branch of Apple Federal Credit Union is now open
Writing a receipt for a deposit, junior Stephanie Scheffer diligently works her shift in the newly opened Cougar Branch.
November 8, 2018
In need of cash during the school day? Now, you can access it through the brand new Cougar Branch of the Apple Federal Credit Union (Apple FCU). The credit union is located in the main hallway.
Mark Frazier, business and marketing department chair, brought the branch to Kettle Run. He believes the credit union serves several purposes.
“Part of our job here is [to teach students] to be young adults,” Frazier said, “and part of being young adults is handling a checking or savings account.”
He also believes this credit union will be a big convenience for students who need money throughout the school day. Instead of having to run money up to the school, parents can just transfer money into their child’s account.
“There are many times at school when I just don’t have money,” Natalie Fahey, junior, said. “It’s so great that I now have access to it at school.”
The Cougar branch of Apple FCU is student run. In order to apply, students have to be enrolled in, or have taken, Economics and Personal Finance.
Grant Richmond, junior, applied because he wanted work experience.
“I hope [working here] will prepare me for other jobs,” Richmond said. “It will look good on my resume to see that I am trustworthy with money.”
In addition to gaining valuable experience, student employees also earn money for every new account they open. That money is deposited directly into their Apple FCU account.
“We make $5 for every student we sign up and $10 for every teacher,” Nicole Piercy, senior, said. The top producer each month gets a $20 bonus.
The credit union is open during all four lunch shifts each day. For the Cougar branch to remain open, student employees must open 50 new accounts each year. In their first month being open, employees generated 65 new accounts.
Frazier would love to see more students, faculty and staff open accounts.
“If you want to start an account, it’s very easy,” Frazier said. “It takes $5 to open a checking or savings account,” Frazier said. “We also need social security and date of birth, but besides that, you’re done.”
Apple FCU, founded in 1956, was started with educators and students in mind. The credit union is based in Northern Virginia and has more than 20 branches in the area. The official opening ceremony of the branch is Oct. 31.
