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Hillside high school gives students hands-on financial education with in-school bank

Hillside High School in Durham prepares students for their financial futures by teaching them about money management through the Hillside Hornet Bank.
Posted 2023-05-28T12:16:19+00:00 - Updated 2023-05-28T20:05:35+00:00
Student-ran bank in Hillside high school offers firsthand financial education

Hillside High School in Durham prepares students for their financial futures by teaching them about money management through the Hillside Hornet Bank.

This student-run, fully operational bank allows students to learn financial responsibilities, including hands-on banking experience, creating a budget, opening checking/savings accounts, balancing a checkbook and more.

Hillside teacher Priscilla Davis, the mastermind behind the project, says she came up with the concept due to her students' need for more understanding of financial literacy.

"I was teaching in my accounting class and I realized students did not know how to write checks, maintain credit cards, or know how to do a budget," said Davis. "I thought, what better way to open up a bank and teach them about managing their finances."

For the past ten years, through a partnership with Woodforest National Bank and Hillside's Business and Finance Academy, this program has been helping to provide students with the financial resources and education that empower them to make sound financial decisions in the future.

This student-run, fully operational bank allows students to learn financial responsibilities, including hands-on banking experience, creating a budget, opening checking/savings accounts, balancing a checkbook and more.
This student-run, fully operational bank allows students to learn financial responsibilities, including hands-on banking experience, creating a budget, opening checking/savings accounts, balancing a checkbook and more.

Davis, a coordinator for the BFA, says her goal is to set up students for future success, especially those working at the bank.

"The experience the students receive here in the bank will give them the skills they need in the future," Davis said. "We have a range of jobs from manager, assistant manager, customer service, tellers, and so much more."

She says this will be a lifelong experience for many students, and when they leave Hillside high school, they will have a foundation for managing their finances.

"I feel like this teaches me professional skills and prepares me for the work industry," said Josh McDuffie, bank assistant manager. "When it comes to banking and managing money, this will also help me in other areas of my life."

McDuffie, a student, says this job at the bank has helped him beyond school but prepares him for real life. He encourages upcoming students to work there if they are given an opportunity.

"I would tell them to take it seriously because this is a great life-changing opportunity," said McDuffie.

Another student, Luis Portillo Sanchez, the bank's head teller, describes how working there has greatly impacted him.

"It help me learn how to interact with different people, " Sanchez said. "I have a separate job, but here I get to interact with younger people, and it helps me learn how to multitask and manage things in a timely manner."

(From Left to right) Khamari Copeland, Joshua McDuffie, Mrs. Priscgilla Davis, Zoë Payton, Luis Portillo Sanchez.
(From Left to right) Khamari Copeland, Joshua McDuffie, Mrs. Priscgilla Davis, Zoë Payton, Luis Portillo Sanchez.

The Hillside bank branch is not limited to only students but is open to staff and families. During school hours, they can do various functions, including opening accounts, depositing funds, checking and savings and applying for loans.

"Students can pay any type of fees associated with the school from I.D. to prom fees," Davis said. "Teachers and some students, if meeting the right requirements, can even apply for a loan."

Customers also get the benefit of getting a stock recommendation each week. Student Zoe Payton started the project of sending out weekly stock advice that displays a stock for that week that would be a good investment.

"This job has many opportunities, like we have internships," Sanchez said. "Mrs. Davis and this program allow us to grow and make the necessary connections to become successful."

The latest research shows that financial literacy programs help future college students make better financial decisions later in life.

The FINRA Foundation found that students with higher financial literacy were less likely to have late fees, make only minimum payments on their credit cards and take out payday loans.

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