KAPAA — Kapaa High School Principal Daniel Hamada said students learn about math and science, but when it comes to credit cards, they are at a loss.
This led to the program on financial literacy at Kapaa High School, Hamada told the group of parents of freshmen students Monday, the first day of school orientation for parents of about 250 Kapaa High School freshmen.
He was joined by a crew from the Kauai Community Federal Credit Union, sponsors of the Warrior Credit Union that holds banking hours from 9:30 to 11:30 a.m. on school days where students are able to manage their accounts.
“We serviced several hundred transactions and opened more than 50 new accounts since the Warrior Credit Union opened in March,” said Bailey Bernabe, a Kapaa High School senior and Warrior Credit Union student branch manager.
Terri Kaniho of the KCFCU said their WCU coordinators offered $25 into the savings of every student account opened on the first day of school, a result of the KCFCU’s Financial Literacy Committee’s efforts to ramp up efforts in educating youth in financial literacy.
KCFCU also provided students in the Kapaa High School Entrepreneurship class ongoing instruction and mentorship on how to effectively run the school-based branch with oversight from their teacher, Cheryl Morita.
“We have to leave to open the branch for parents who may have questions, or want to open accounts for their students,” Morita said.” A few of the student leaders have been working hard over the summer to develop and implement the 2016-17 WCU Business and Marketing Plan. They are expecting growth and impact this school year.”
KCFCU has financial literacy programs in other schools, including Eleele Elementary, Kilauea Elementary, and a new student branch planned to open at Kauai High School in September.
“Together with the schools, parents, and community, we can better prepare our youth for the financial realities ahead by empowering them to develop positive habits, knowledge, and attitudes for their long-term financial well-being,” said Monica Belz, vice president of marketing at KCFCU.