BURBANK, Calif. – What a difference revamping a space can make. For the Burbank Community Federal Credit Union branch at John Burroughs High School, a recent remodel has transformed it into the lunchtime hotspot. Used by both students and teachers, the student credit union has been on the Burroughs High School campus since 1974. With the old credit union space beginning to show its age and the school offering a classroom for a new CU office, student volunteers turned to Burbank Community FCU for help.
"One of our goals here is to make the student credit union a better experience – more of a resource where people will want to hang out and spend time there," said Anita McLendon, Burbank Community FCU vice president of marketing. "It is really an extension of our credit union so we do as much as we can to support their efforts. Whether it's remodeling their office, offering scholarships or hosting a pizza day, we want everyone to have fun while learning valuable financial lessons."
Before, the space consisted of little more than a desk, two six-foot tables and chairs. Wanting to take the branch a step further, student volunteers worked with the credit union to select colors and some funky furniture infusing the branch with personality.
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With the youthful dcor, a big comfortable couch and an iPod stereo system, the student credit union has become more of a student lounge. Students have dubbed it the "Green Room" and the branch is quickly becoming the most popular place on campus. The room is also stocked with plenty of educational financial information on everything from how to apply for student grants and where to get financial aid, to budgeting and making responsible credit moves. Branch signage and banners were provided by the credit union's marketing agency Subcat Marketing.
"They made it a really cool, fun place to go," said McLendon. "Today kids respond to things aesthetically-so if you don't present something to them in a way that they can buy into they won't give it a chance. Now the credit union is packed, kids are taking the time to read the materials, asking questions and even telling their friends about it to come in and join."
The remodeling is part of the credit union's bigger plans to better connect with its younger members. In addition to hiring a financial education representative to oversee all the education in the community, the credit union offers mini seminars that emphasize the importance of saving now. McLendon says the credit union is also tapping its student volunteers for great ideas on how to effectively reach their peers.
Some of the innovative services that appeal to younger members include a prom loan and running a promotion that gives students who open a savings and checking account a chance to win an iPod Nano.
"We want them to learn that that they don't have to spend everything they earn. The promotion has been popular and during youth week we opened over 27 accounts," said McLendon. "As for the prom loan it is something they really appreciate and it's helped them develop a strong connection with us. Since prom tickets are now $100 each-it is hard to pay for you and your date out of an allowance, the loan helps them out." Plans are also underway to get more involved with elementary schools, remodel its Burbank High School branch and install an ATM in John Burroughs HS this fall.
"Getting involved with the schools and putting the time and effort to remodel and be involved with the student credit union is honestly the most rewarding program a credit union could be a part of," said McLendon. "Not only are you putting your financial knowledge to good use, but by helping the youth everyone benefits, the community, the child, and the parents. It is a win-win."
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