Credit union tied to Mount Si class
October 2, 2008
By Laura Geggel
Mount Si High School junior Marley Robbins, left, helps operate the Mount Si Sno Falls Credit Union branch with senior Zach Midgarden. Senior Olivia Guterson talks to them on the other side of the window. Photo by Laura Geggel
Most classes only have a theoretical application in today’s society. But three times a week, students in the business, finance and accounting class at Mount Si High School will have the option of applying what they learn from teacher Kimberly Sales to the branch of the Sno Falls Credit Union in the commons.Sales’ daughter, Stephanie Doyle, began the high-school branch in the fall of 2001, but the credit union didn’t have an advisor until this year. Now, Sales, Doyle and Sno Fall Credit Union CEO Linda Larion have developed a curriculum, allowing students time both in the classroom and at the credit union window.
Sales’ class of 16 students spent the first month learning how to market their product — they made a commercial for Wildcat TV with technology teacher Joe Dockery’s class. The actual Sno Falls Credit Union window opened Sept. 29 and greeted an average of five students during each of the three lunches.
Although no students signed up for new accounts on opening day, Sno Falls reported they have 404 high school members in July. If the members are under 18, they can receive 6.01 percent interest on deposits up to $500.
“The value of credit unions is that they’re not for profit,” Sales said. “They pass on profits to members through higher earnings on savings and lower interest rates on loans.”
The class will be advertising the high interest rates through a month-long membership drive starting Oct. 13.
Student tellers — or membership service representatives as Sno Falls calls them — work one shift per week with senior Zach Midgarden supervising them. Midgarden interned at Sno Falls Credit Union this summer and has hundreds of hours of experience processing monetary transactions.
Sno Falls provides Mount Si with an ATM machine, but the credit union should help students with Sno Falls accounts who forgot to fill their wallets for the day.
“If you are ever going to do something after school, you can get cash,” Midgarden said.
Through a five-hour job shadow exercise at Sno Falls Credit Union, each student has learned how to process withdrawals and deposits. Students first verify the person’s identity by asking for their driver’s license — although at Mount Si, students can also use their ASB card — before they manage the customer’s request.
“There will probably be more cash withdrawals during lunch,” said Jodie Catlett, a former wildcat who now supervises at the Snoqualmie Sno Falls Credit Union branch.
Senior Jenn Clarke said she first learned about the class during Mount Si’s Career Day in May. Doyle, the 2002 Mount Si graduate who helped start the high school’s branch, told students about accounting and how they could acquire hands-on experience.
Like Midgarden, Doyle started her credit union career at Sno Falls Credit Union. The CEO, Linda Larion, read an article about a collaboration between a credit union and local students and decided to start a project of her own.
“A contractor had to turn a closet (in the commons) into a branch,” Doyle remembered. “We worked in the branch at lunches and did promotions for holidays.”
Only about six students ran the branch in 2001. Since then, the program has grown.
“We knew there was a demand,” Sales said. “I’ve had students in the past come up to me and ask for an accounting class.”
Even the Mount Si branch is getting an upgrade. The commons is a noisy place, but with an added microphone, tellers will soon be able to hear customers more clearly.
Principal Randy Taylor, who was talking to Superintendent Joel Aune in the commons, said the class’ real-world applications would help students.
“It’s great to learn about capital, which drives our economy,” Taylor said. “Building the credit union within the class setting builds a strong relationship with our community.”
Aune agreed and offered some financial advice.
“It beats putting money in Lehman Brothers,” he said.
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