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Nov 13, 2008 6:34 pm US/Central
Student-Run Bank Opens In N.J. High School
NEWARK, N.J. (CBS) ―
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West Side High is the second student-run bank Capital One has established in our area. The first was opened last year at the Fordham Leadership Academy for Business and Technology in the Bronx.
Capital One
In these tough economic times, it seems like everyone is paying close attention to checks and balances. That's especially true of some high school students in Newark, where accounts are their business.
It might be the only bank in this economy, to get a standing ovation. It's the Capital One Branch, to be run by students at Newark's West Side High School.
"It's life changing. I feel very privileged to be working here," said Satchmo Hastings, one of the student bankers who will do it all from handling cash to opening new accounts to customer service.
Newark Mayor Cory Booker was thrilled to attend the bank's grand opening and will even be a customer.
"I'm gonna be depositing money here. They're gonna have a real life experience and see firsthand how managing your money makes for strong financial futures that can weather any kind of financial storm," he told CBS station WCBS-TV in New York City.
The students went through rigorous training, in actual banks with actual customers, and came away with a new appreciation for money, and the real world.
"It was amazing. It was hard at first, because it was like, OK, what do I say? Is this OK to say? Is this too much to say?" said Khairaah Davis. "It was fine. I had a lot of customers, but it was fun."
At West Side High, their customers will be their peers. Their families will have access to financial education, and planning. With supervision from the bank, and the school, and security, the students are handling it like professionals.
"I never thought I would have a business card until I was 25. So being 16-years-old with a business card, it's like, 'Hey, would you like a business card?'" said Davis. "I don't have to give you my e-mail, my phone, I can just give you business cards!"
West Side High is the second student-run bank Capital One has established in our area. The first was opened last year at the Fordham Leadership Academy for Business and Technology in the Bronx.
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