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Oct 8, 2008 5:08 pm US/Central
School's Money Lesson Results In $21K In Savings
FORT WORTH (CBS 11 News) ―
At a Fort Worth elementary school, a lesson about money is producing amazing results.
In three years, students at Washington Heights Elementary have put more than $21,000 into savings.
"That number did surprise me," said Unity One Credit Union President Greg Williams.
Every Wednesday, students at the elementary school line up to deposit money into the Unity One Credit Union branch on campus.
"We've had students bring in a significant amount of money," said Sandra Garza, Washington Heights Principal.
The idea started three years ago to encourage students to learn about the banking system.
To start an account, students from age four and up have to deposit a dime. Other students are in charge of taking the money and balancing the books.
The in-school credit union has given families an opportunity to talk about saving money. Alma Charles granddaughter wants to save enough money for a trip to Disney World.
"Last night we were talking about it, and she wanted to have money like her grandpa in the bank," said Charles.
At the end of the school year, students have the option of taking out the money. Or they can keep it in the credit union all through high school.
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