Good Crabbing - First Financial Federal Credit Union Click HERE to Bring Up Full Post

From the Baltimore Sun, October 17, 2006:

Dundalk High School junior Kayla Hylock opened a savings account during her lunch period two weeks ago. And she didn't have to leave school to do it.

Dundalk High and First Financial Federal Credit Union of Maryland have teamed up to start what they and trade association officials call the first student-operated credit union in the Baltimore area. The Owl Branch opened Oct. 3 for students and staff in the cafeteria.

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With a minimum deposit of $5, students and staff can open checking and savings accounts. The branch does not offer loans.

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"There are only benefits because those credit unions will teach students about banking without aggressively marketing debt that will get them in trouble later," said Stephen Brobeck, executive director of the Consumer Federation of America.

"Unfortunately, so many young people start off their banking experience with a credit card, which they're not taught how to use properly, and they end up with unaffordable debt."

Brobeck said credit unions - unlike banks - can offer student-operated branches because they are nonprofit. He said the student-run programs are beneficial because they offer real-world experience.

A Good Crabbing Award to First Financial Credit Union. Disclosure: I almost forgot, but my wife and I are members of that credit union.