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Case Studies 2006 - 2007

Northwestern Regional High School and Northwest Community Bank
(Winsted, CT)

Goal: To enhance the financial literacy of rural high school students and increase their success in the local community and in the global economy. The program also is designed to increase students' competitiveness for college entry and within the job market.
Strategy:

Develop students' fiscal literacy and promote career options in the banking and investment industries. The "It's in the Bank!" program includes an honors-level business curriculum, two-year internship, and mentoring program with bank officers.

Tactics:

The partnership created the Honors Challenge Money, Banking, and Business course. Northwest Community Bank (NCB) officers serve as guest lecturers. To assist students in gaining real-world experience, NCB set up a student-staffed, in-school bank branch. It is the first program in the state where the bank is an integral part of a high school business course; no student can work in the bank without being in the course. Students training at the bank are assigned a personal mentor.

Results:

The partnership has created career opportunities for participating students:

  • Nine students participate in the honors course;
  • Eight students work at the in-school bank;
  • Three students work part-time in local bank branches; and
  • Students not involved in the program can explore the banking industry through unpaid internships at the bank.

The course and in-school bank have provided opportunities for students to design promotional programs for the bank, learn about the importance of saving and the dangers of mishandled credit, and attain access to in-school banking services. Additionally, the program has generated a new employee pool fully trained by bank personnel; a 2006 graduate has already been hired as a full-time employee.

News of the success of the program is widely disseminated. Teachers, students, and bank officials have:

  • Presented workshops at high school and state conferences.
  • Traveled throughout the state of Connecticut in the past year to share best practices with other schools and banks interested in developing similar programs.