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Narrative: In 2000, Oakland High School partnered with Cavalry Bank to establish a school bank. The purpose of the bank was to provide students with opportunities to learn the functions of a banking operation and provide the general student population with an opportunity to establish savings accounts and access to small loans. Students interested in working at the bank had an assignment to use the Internet to research personnel positions available in a bank. This assignment gave students an understanding of the different positions and responsibilities of the jobs available in a bank prior to determining which position they would ask for an interview. Calvary Bank reviewed the students' resumes and conducted the interviews for the various positions. Initially, 10 positions were identified. These included tellers, CEO, vault teller, marketing, general managers and vice president. The bank was constructed in a storage closet adjacent to the lunchroom. Teller windows were built and the interior reflected an actual bank. The bank donated equipment. The bank provided the teller training and students had to pass the exam conducted by the bank before they could be hired.
It Works! At its high point, the bank had $14,000 in assets and earned $50 in interest. Students were able to operate the bank under the supervision of a faculty member and learn, first hand, how a bank operated. In the classroom students learned how to develop spreadsheets and understand general financing. School clubs and organizations that have fundraising activities now use the bank to handle the monetary processing of funds for a small fee.
Contact:
Joyce Hatfield
Oakland High School
2225 Patriot Drive
Murfreesboro, TN 37130
(voice) 615-890-5920
(fax) 615-895-4090
E-mail: hatfieldj@rcs.k12.tn.us