Located in Scotlandville Magnet High School and operated by the students, the credit union is designed to offer students important job skills and life lessons.
"This is a tremendous opportunity for our students to learn first hand about saving, spending and making wise financial choices," said Howard Davis, principal at Scotlandville Magnet High School.
The new credit union uses the tagline "We won't sting your pockets!" and offers members savings and checking accounts, check-cashing services, debit cards, deposit services and limited cash withdrawals. Hornet's Nest Credit Union is staffed by students in the high school's education for careers class and overseen by a LA DOTD FCU employee.
"This is our first high school branch and we are very excited to get it up and running," said Danielle Scott, LA DOTD FCU vice president of financial literacy, responsible for managing the in-school programs.
LA DOTD FCU, based in Baton Rouge, La., currently teaches financial literacy programs in five Louisiana school systems, public and parochial, and sponsors four student-run, in-school branches.