The Kokomo School Corp. board of trustees Monday approved a proposal to install an ATM at the high school to help teach personal finance.
The ATM will be installed in the hallway between the cafeteria and new media center before the start of second semester.
Superintendent Jeff Hauswald said Solidarity Community Federal Credit Union submitted the only proposal for the project, but the bank met all of the district’s requests, including coordinating a personal finance curriculum for one of Kokomo High School’s business classes.
The bank is also making a financial commitment to the project. Bank officials will be helping students open accounts and will make financial contributions to those accounts, Hauswald said.
Solidarity’s Vice President of Marketing Diana TenBrook said the bank’s philosophy is to be a community partner, but its ultimate goal is to educate young people in the community.
“Providing financial education to our members is an important part of our mission, but we also want to educate our youth so they will develop strong personal financial literacy skills to make informed and wise money decisions in their future,” TenBrook said. “The youth of today are our future leaders and they must have financial knowledge to successfully accomplish their career goals.”
The bank will offer a personal finance curriculum during the personal financial responsibility class at the high school. Students will be able to open checking accounts through this program and will be given an ATM card with a starting balance of $5 provided by Solidarity. The bank will offer free ATM cash giveaway days periodically.
The personal financial responsibility class will teach about the banking process through hands-on experience with the ATM, project-based learning, guest speakers and field trips.
District officials said Solidarity’s curriculum will help the high school meet new state standards for personal finance classes.