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JCPS Gets Something Majorly RIGHT!

December 14th, 2009 by jake · 10 Comments

Wow. I love being able to write positive stories about Jefferson County Public Schools (or anything in education, really). And this is certainly a major win.

JCPS just announced that Central High School Magnet Career Academy is unveiling an in-school, student-run bank. The grand opening will be held this Wednesday, 12/16, at 10:00 A.M. Fifth Third Bank CEO & President Phil McHugh will be on-hand to present a $4,500 scholarship check during the ceremony.

According to a press release, 30 students will run the bank each year. Both faculty and students will be able to set up checking and savings accounts, cash checks, save for class rings, dues and more. Incentives (not clear what) will be provided as motivation for students to save.

“CHS is grateful for the quality of education and increased opportunities for our students this partnership will provide, said Principal Dan Withers. “We are grateful to organizations like Fifth Third Bank for their commitment and support of the community and to the education of our young people.”

McHugh says it best himself, “Helping to provide students with the tools and support they need to succeed as financial services industry employees is very rewarding and it’s exciting to work with young people who are eager to learn and succeed.”

Major kudos to JCPS and 5/3 for working together over the next three years to provide students with real world experience: hands-on financial education. This is a step in the right direction toward preparing kids for life.

Tags: Banking · Business · Education · High School · JCPS

10 responses so far ↓

  • 1 AbG // Dec 14, 2009 at 2:59 pm

    Not to rain on the parade, but I know Ballard and Male have had banking partnerships like this one with what used to be National City for at least 12 or 15 years.

  • 2 jjman // Dec 14, 2009 at 3:01 pm

    Trinity HS did this 20 years ago!! Literally! Go to the cafeteria, and see a student run bank — Does it take that long for our public schools to catch up??

  • 3 jake // Dec 14, 2009 at 3:18 pm

    You’ll note that I didn’t say this was the first school to open a student-run bank.

    They’ve existed in various schools around the state for decades. But usually only in elite private schools where kids actually have money or in top-tier public schools.

  • 4 John Williamson // Dec 14, 2009 at 3:33 pm

    Thanks for giving this some additional light Jake!

    I’ve been having so many conversations with whomever will listen about the need for a “news and happenings” newscast… just one.

    Sorry crime, weather and sports, you have plenty of airtime.

    I personally want to know what the heck our schools are doing. I would like to think that most are doing progressive things, but that is not the norm.

    We should celebrate the changes publicly because everyone wants their moment in spotlight, especially for something positive like teaching our kids how money works…

    Maybe they’ll open up a derivatives market for “Test Default Swaps”… Buy a better grade today!

    I recently wrote about another educational tradition I think could use a bombshell… http://johndwilliamson.com/2009/12/07/schools-go-digital-sorry-printing-companies/

    Keep up the great work!
    John

  • 5 JJMan // Dec 14, 2009 at 4:03 pm

    “Elite private schools” or “top tier public schools” — it dosn’t really matter — A good idea, is a good idea — and EVERY school ought to be thinking this way. I join in the celebration of this at Central HS, but continue to be frustrated, exasperated, and downright angered by the lack of movement towards these types of initiatives on a broader basis. I’m thrilled to see Central HS acting like it should — as an educational institution. Why can’t our other public schools do the same??

  • 6 jake // Dec 14, 2009 at 4:15 pm

    JJ: Starts with leadership at the top.

  • 7 Novena // Dec 14, 2009 at 5:50 pm

    “Economic Common Sense vs. Capitalist Dogma”

    The JCPS plan sounds good if it highlights economic common sense such as savings, avoiding rampant consumerism, and the like. If it is a showcase for unquestioned capitalism, that is another matter.

  • 8 jake // Dec 14, 2009 at 6:20 pm

    Novena: Said above that the program focuses on the importance of saving…

  • 9 Novena // Dec 14, 2009 at 7:55 pm

    “I Got It, Jake”

    Yes, I saw the bit about savings and certainly approve of it. But sometimes there are hidden agendas (and hidden curricula) behind what goes on in public schools, especially in our overly capitalist society. Just a thought–and I hope it is not warranted.

  • 10 Mark H (Not Hebert) // Dec 14, 2009 at 11:06 pm

    Great for the JCPS. We need far more of these kinds of programs, especially in public schools where students are less likely to obtain that knowledge outside of an academic setting.

    It’s a shame that we don’t mandate basic economics and finance in our schools.

    Economic illiteracy is significant problem that inhibits voters from making an educated opinion on government economic policy and spending bills.

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