The $565-million DuTrac Community Credit Union and Davenport West High Schoolhave launched what DuTrac says is the first in-school high schoolcredit union in Iowa.

The collaborative project in Davenport will provide studentswith opportunities to learn how to manage their money, along withhands-on work opportunities in the financial sector, the creditunion said.

A branch credit union has opened at West High School withmembership open to West High School students and staff membersonly.

The Davenport West Falcons branch, a division of the creditunion, is staffed by West High School students with the support ofa fulltime DuTrac Credit Union employee and the business academyteachers at West High School.

The branch offers a checking account that is accessible onlythrough a debit card, as well as a savings account.

The credit union is a school-driven program with a focus onfinancial education for students.

“It's important for everyone to learn good money managementskills,” said Steve Verdon, WHS Business Academy teacher. “It's important for students to learn the difference between thefund balance shown in their checking account and the actual fundsavailable for them to use. For example, insufficient funds chargescan mount up quickly.”

Another tool that will be available to students is “Advance,” anonline budgeting tool that can help students set savings goals forthings that are important to them, such as a prom dress, classring, or a yearbook.

“We're excited to offer a career-development opportunity forstudents who may be interested in working in the financial sectorin the future,” said Andrew Hawkinson, president/CEO of DuTrac.

“Students are working in a professional environment and areexpected to meet real-world standards in terms of a dress code,customer service, and compliance standards. The branch will alsoundergo an audit, just like any of our branches.”

The DW Falcons branch began opening accounts on the first day ofthe school year, Aug. 12, and already has 120 members.