MONEY IN THE BANK: SCHOOL BANK PROMOTES FISCAL RESPONSIBILITY

Nacole Acosta, vice president of operations, and Cory Lenderman, operations support at the Bulldog Financial Center, sort through transactions before logging them on a computer.

SIKESTON -- Educators at Sikeston High School are banking on a new class to teach the school's student body fiscal responsibility.

The class, which was included in the curriculum for the first time this year, emphasizes fundamentals of banking and finance. Students in their junior and senior years are eligible to take the class, which also trains them to work in the Bulldog Financial Center, a student-run bank managed on the high school campus.

Faculty adviser Judy Nickell said the idea for the financial center was brought to the district by representatives from Mercantile Bank. They had observed a similar class in Kentucky and successfully convinced the school board to offer the opportunity to Sikeston students.

"Students taking the class as juniors study the principles of banking and deposit operations," she said. "As a senior they will eventually study banking law and marketing. The whole purpose is to give students who use the bank some experience in financial responsibility and to give students real-life skills."

Some 17 students are taking the class this year. The students devote two hours to the class each day, including one hour of classroom instruction and one hour working in the school's bank facility.

They are also required to attend weekly management and loan committee meetings.

The school bank is set up similar to a real banking operation, said Nickell. Students receive training and work as the bank president, vice president of operations, vice president of loans, auditor, teller, teller supervisor or in an operational staff position.

Students may open on-campus checking accounts or savings accounts at the bank, and real checks are issued that can be used anywhere at any time on campus. So far, about 45 accounts have been opened.

"They can use the checks to pay club dues, or go to football games, or buy lunch in the cafeteria," said Nacole Acosta, a senior and vice president of operations. "Part of my job is to take surveys and see what the other kids think about it. Everybody that I've talked to seems to really like it a lot."

Last week, the Bulldog Financial Center expanded its services to include short- and long-term loans. Since then, three loans have been given to make purchases on school-related items like yearbooks, class rings and school jackets, said Nickell.

"We're encouraging them to borrow these kinds of things," she said. "To be eligible for a loan, they must have good conduct, good grades and office approval, and they have to have some source of income, whether it's an allowance, a job or whatever."

Bank president Thomas Lowe said because the applicants must provide a source of income, the center lends itself more towards upperclassmen. The younger students don't really have much money to deposit, so mainly older students are getting banking experience.

"It was slow for the first couple of days, but now students are coming in a lot," Lowe said. "I think it's a great opportunity for everybody. I've really enjoyed my experience with it. Because of some of the experiences I've had I think I will pursue a career in banking."