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Redstone Federal CU opens first ‘in-school’ branch

Friday, September 8, 2017  
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Redstone Federal CU opens first ‘in-school’ branch

Staff of Hartselle High School Branch powered by Redstone Federal Credit Union with school and RFCU officials

(L-R) Heavenlee H., student intern; Thomas M., student intern; Nathan Lombard, Sr. AVP Schools Program; Linda Roberts, teacher; Joe Newberry, RFCU President/CEO; Dr. Dee Dee Jones, Hartselle City Schools Superintendent; Jeff Hyche, Hartselle High School Principal; Lola T., student intern; Jan Bias, Sr. VP People & Culture; Dylan H., student intern; Margaret Ann Pirtle, teacher. Not pictured: Casey H., student intern

(Sept. 1, 2017) Hartselle High School Finance Academy students are ready to handle their fellow students’ banking needs this Tuesday, thanks to a partnership with Redstone Federal Credit Union.

Five students and two teachers spent time training at Redstone in July so that they will be ready to take deposits, cash checks, offer gift cards, make transfers and much more when Redstone opens its first branch in a school on Sept. 5.

“Our goals with the Schools Program are to build partnerships and relationships with the schools and to advance financial education. It is also an opportunity to find future employees among the students as they experience the working world,’’ said Joe Newberry, Redstone’s President and CEO.

The credit union branch is located in the library. Students will handle all branch transactions, under the supervision of Finance Academy teachers. The branch will only open during lunch hours.

Redstone is covering all expenses for construction, equipment and training.

Principal Jeff Hyche said the benefits to Hartselle students are two-fold.

“For the kids working in the branch, it’s their capstone project. Most are seniors and this experience is invaluable,’’ Hyche said. “For all other students, it’s about teaching them how to handle their finances. We are really trying to market this to parents as a time that students can learn all aspects of financial management.’’

Redstone will also offer financial education workshops for students and staff throughout the school year.

Redstone’s Hartselle branch at 1415 Main Street East, will handle services not available at the Hartselle High School branch.    

Students, 17 and under, must have a parent or guardian’s permission to open a savings or checking account and must be joint on the account.

Withdrawals are limited to $300 per transaction and deposits cap at $2,000 per transaction.   

“We are excited about this partnership and believe the community will reap the benefits of a financially prepared generation,’’ said Newberry.        

 About Redstone: With more than $4.8 billion in assets, Redstone Federal Credit Union is the largest member-owned financial institution in Alabama and one of the 16 largest federal credit unions in the nation by assets. Based in Huntsville, Alabama, Redstone Federal Credit Union serves 400,000 members. Chartered on November 28, 1951, Redstone Federal Credit Union has proudly served its members in the Tennessee Valley area for 65 years and has 26 conveniently located branches across North Alabama and Tennessee. Redstone Federal Credit Union provides a level of service that is not generally available at other financial institutions through its philosophy of - People Helping People.