Beyond the bottom line: CFCU’s mission-rich approach to financial education

Laura Edick still remembers the buzz of her first "payday" in the East Syracuse Minoa High School Spartan Branch back in 2005—except she was behind the counter, not in front of it. Twenty years later, the one-time teen supervisor leads CFCU Community Credit Union's youth financial literacy operation.

It's proof that the Central New York program not only teaches the basics of money management but is also a prime example of the impact that not-for-profit financial cooperatives like credit unions have on the communities that they serve.

"The more you know about money, the better financial decisions you can start making in life—especially early in life," said Bill Sweeney, Vice President of Member Advocacy for CORE, a division of CFCU Community Credit Union.

Student-run branches build a talent pipeline

The flagship Spartan Branch opened inside ESM High School in 2005. Students apply and interview for positions, and complete business ethics and compliance onboarding before handling live transactions, creating marketing campaigns, and doing audits. Those hours also count towards New York's Career & Technical Education diploma endorsement, giving graduates a résumé boost alongside real-world skills.

Before the pandemic slowed activity in the program, teens had processed nearly 2,500 transactions in a single school year, and 175 business-class students rotated through various parts of the program. Several alumni—Edick included—now work full-time at CFCU.

Big kids teaching little kids

High schoolers don't keep their expertise to themselves. Since 2007, they have traveled to elementary classrooms for "Bank-at-School" days, helping younger students to establish good savings habits early in life through consistent hands-on mentoring and making finance fun through budgeting games and periodic prize drawings. The program is now in its 17th year, and a new "Building Your Nest Egg" assembly will let one lucky K-5 saver turn steady deposits into a chance to win up to $300 this spring.

"We feel that this program encourages students to have good savings habits and sends a strong message about the value of setting aside even small amounts," School District Superintendent Donna DeSiato wrote to parents in September 2024.

Colorful events help these financial literacy concepts really stick. At a "Spring into Savings" fun fair, more than 200 elementary pupils rotated through games created by Cicero-North Syracuse High School volunteers: "SPRINGO" finance vocabulary bingo, a coin-sorting speed race, and a mock cashier window where kids filled out checks before claiming prizes.

Those playful touches translate into real behavior. Elementary savers reached a high of 1,500 deposits in 2018, and more than 1,000 youngsters had opened actual accounts. Community ripple effects

Financial literacy work doesn't stop in the classroom. The credit union also supplies about 75 student and staff volunteers for "Block Blitz," an annual neighborhood-revitalization day run by CDFI partner Home Headquarters Inc., where the Credit Union typically makes up nearly one-third of all community volunteers. Tasks range from repairing fences for seniors to mulching local parks.

Industry peers have noticed. Over the years CORE, a division of CFCU, has mentored credit unions to assist them in establishing similar programs, both in New York and across multiple states, on how to satisfy school-district requirements and train and engage students—part of the reason the cooperative is a nine-time recipient of the Desjardins Youth Financial Education Award.

Why the investment pays off for credit unions

Sweeney is blunt about the economics: "Programs like this are not money-making. They're expense items—elementary deposits often come in one or two dollars at a time, and high school accounts typically carry small balances." Yet that outlay, he argues, produces value banks rarely capture. The hands-on curriculum turns children into financially confident adults, strengthens family ties to the institution, and showcases credit unions' not-for-profit mission in the communities they serve.

For credit-union leaders pondering similar initiatives, CFCU's experience offers a blueprint:

  • Start with a teacher champion and bake coursework into CTE credentials.
  • Staff a dedicated liaison—even part-time—to keep student branches compliant and supported.
  • Layer fun on top of fundamentals; carnival-style events and prizes drive sustained program activity and learning.
  • Track outcomes so historical metrics evolve into today's success stories.

CFCU's two-decade journey shows that treating financial literacy as a community asset—not a profit center—can yield returns in member growth, brand trust, and future talent.

"It's our mission focus," Sweeney says. "The more skills people gain to make better financial decisions, the better quality of life our whole community will have."