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MCT FCU Wins “2007 Business Champion for Children Award”
ROCKVILLE, MD - MCT Federal Credit Union is the recipient of the “2007 Business Champion for Children Award” for its in-school branch (ISB) student-run credit union program and all of its financial education initiatives for the youth of Montgomery County. The credit union will be honored at the Montgomery County Business Roundtable for Education (MCBRE) Awards Gala on April 15th.
“Our in-school branch program is not just all about having an account or opening a membership,” said Lynne R. Talon, MCT FCU’s Manager, In-School Branches. “This program teaches students about savings and budget so they can develop proficiency in basic life skills pertaining to personal finance. Students learn how to manage and balance their checking accounts, use credit wisely and explore investment options.”
MCT’s In-School Branch (ISB) Program was developed in conjunction with the Academy of Finance to introduce students to a financial environment and provide hands-on experience and learn basic teller and member service skills. The hands-on experience permits students to explore entrepreneurships and career options in banking and finance. Students are also provided sales and leadership training to empower them to manage their own business through the opportunities provided by the ISB program.
MCT was the first credit union in Maryland to have in-school branches at county schools. Montgomery County Public Schools (MCPS) currently houses nine in-school branches—six high schools, one elementary school and two alternative schools. Other jurisdictions are using MCT as a model for establishing their own in-school student-run branches.
MCT has established a formal partnership with all of these nine schools that operate the ISB Program primarily for the support and enrichment of the education process. The County’s largest high school, Montgomery Blair, located in Silver Spring and MCT’s busiest in-school branch, implements the ISB program through the Entrepreneurship Academy and its core business and finance curriculum.