Belton High School students get hands-on financial training at a new student-run credit union branch

BELTON, Mo. — KSHB 41 reporter Ryan Gamboa covers Cass County in Missouri. He also covers agricultural topics. Members of KSHB 41's Cass County Community Advisory Board shared this story idea with Ryan. Share your story idea with Ryan.

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R-G Federal Credit Union opened its new Pirate Branch at Belton High School Thursday, giving students hands-on, real-life experience running a full-service credit union inside their school.

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The branch is open on weekdays during the school year and during summer school hours. Students and staff can take out a loan, cash a check, or open an account and earn the Pirate Card — a branded debit card connected to the district branch. The Credit Union can do most banking that can be done at an R-G Federal Credit Union branch.

For senior Olivia Middaugh, the opening arrives at a critical time.

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"Right now it's senior year, so I am dealing with the struggle that most seniors are thinking about is how am I going to pay for college? So I think finances is a big thing that we're thinking about," Middaugh told me.

Middaugh reflected on what the launch represents for students to come.

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"Today, I think marks the start of us really working to help prepare students for the future," she said.

Students who work at the branch will gain real-life work experience while managing personal finances inside their own high school.

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Personal finance education has expanded across the country. Missouri requires students to earn a half credit in personal finance to graduate.

Nationally, 32 states require it for graduation — up from one state in 1970.

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A Kansas City Federal Reserve study found students who receive financial guidance early are more likely to have a bank account as adults.

Belton School District Superintendent Andrew Underwood said the branch's student-led model offers something different from traditional financial settings.

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"We think interaction student to student can also be a little less threatening instead of that adult and student experience as well," Underwood told me. "We see that piece will invite students in as well."

Jesse Lomax, chief operating officer of R-G Federal Credit Union, said the Pirate Branch is built to operate like any other branch location.

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"It's truly like walking into any of our other locations that we have that are not located in the high school," Lomax said. "We can come in provide that expertise and give them that foundation that they need to make smart money choices and set themselves up for success into the future."

The Pirate Branch runs with student guidance and adult supervision, creating some early exposure to financial planning that can blossom in the future.

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"If you build the skills now, it helps you in the future," Middaugh added..

R-G Federal Credit Union is one of the longest operating businesses in Belton. It began in 1957 to to serve Richards-Gebaur Air Force Base's Military and Civilian population.

The Belton School District and R-G Federal Credit Union are excited to build a partnership, that already has long lasting roots.

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