Student-operated credit union branch kicks off its fourth year in Peabody Magnet High School

ALEXANDRIA, LA (October 8, 2013) — The line to open an account wrapped around the hallways of Peabody Magnet High School and into Pelican State Credit Union’s student-operated branch as students helped kick off its fourth year in business.

Present and future Pelican members, along with Petey the Pelican, enjoyed a ribbon cutting ceremony signifying the grand opening of the branch. Pelican provided breakfast and festivities such as a friendly basketball free throw competition and a chance to win a $25 Visa® Gift Card!

Students in Ms. Sandra Eldridge’s business class operate the Peabody Branch. Peabody students can visit the branch to make deposits or withdrawals to their savings account every Wednesday that school is in session.

In addition to the student-operated branch, students enrolled in business classes regularly take financial education courses taught by Pelican’s Nationally Certified Credit Counselor Rhoda Hundley. Course topics include handling a checking account, paying for college and establishing good credit.

“The hands-on skills they learn in the school branch coupled with the financial education in the classroom give the students a good foundation to build on,” said Jeffrey K. Conrad, Pelican CEO.

 “It is important to give students the tools they need now and in the future and empower them to make educated financial decisions,” said Conrad.

Although Pelican’s Peabody Magnet High School Branch only serves students, all Rapides Parish residents are eligible for membership and can use the branches located at 4520 Lee Street in Alexandria and 725 Main Street in Pineville.

Pelican State CU was established in 1956 and was formerly known as the Department of Hospitals Credit Union. As a not-for-profit cooperative, the credit union serves more than 35,000 member owners. With an asset size of $218 million, Pelican is dedicated to the financial education and well being of the communities it serves.

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