NEW YORK—A high school student-run Capital One Bank branch opened on April 19 at Thurgood Marshall Academy in Harlem, New York.
Ten students enrolled in the Capital One Bank Student-Run Branch program to provide bank saving products and services to administrators, teachers, and other students under the management of Capital One bankers, according to a Capital One release.
“In these tough economic times, we want to teach our youth how to prepare for their future. Now more than ever, financial literacy, as well as fiscal management and responsibility are considered key building blocks to success, not just for students, but for us all. Through this project, we are providing our youth with critical skills and practical experience required to succeed in the real world,” said Treasurer of the United States Rosie Rios in a statement.
The student-run bank branch is a partnership program between Capital One Bank, the Abyssinian Development Corporation (ADC), and the Harlem school.
According to the senior director of External Bank Communications of Capital One Bank, the interns work three days a week from 11 a.m. to 3 p.m. at the in-school branch. The program is structured to provide students with a heavier course load in the morning and lighter schedule in the afternoon. Their grades are monitored to ensure the students keep up with the work they miss during the time they work at the bank.
Every student signs up for the program on the understanding that they have to be responsible and maintain their grades.
ADC is a nonprofit organization founded by Abyssinian Baptist Church in 1989. It played a large role in developing the Harlem community by bringing quality affordable housing, leading commercial development, and advancing education.