Virginia CU files to expand FOM to serve HS students

<p>ALEXANDRIA, Va. – City of Alexandria Employees CU filed with the Bureau of Financial Institutions to expand its field-of-membership to include students of Alexandria City Public Schools. Initially the $18.4 million CU will serve 2,000 students at the Academy of Finance at T.C. Williams High School, and eventually the credit union might go lower than the high school grades, said Vice President of Operations Athley Klein. The credit union has about 6,600 members and counts in its FOM City of Alexandria and Alexandria Hospital employees, as well as members of the city and public school boards. Klein said Academy is interested in opening a student-run branch of the credit union at the school to supplement the course in finance being taught and to give the students “real life” experience. City of Alexandria Employees CU will offer deposits and withdrawals at the high school branch. Students 18 years and older will have to get signed parental permission to apply for a loan and checking account.</p>