State and local officials join Capital One Bank and Prince George's County Public Schools today to celebrate the grand opening of the Student-Run Bank Branch at Parkdale High School in Riverdale, Maryland.
The Parkdale High School branch is the first Capital One Student-Run Bank Branch in the Greater Washington, DC region, and the fourth in-school bank branch opened by Capital One Bank since 2007. The Capital One Bank Student-Run Branch program provides students with critical youth development opportunities, real-world work experience and a unique grounding in financial education.
"The administration applauds this commitment to financial education, and I commend the students at Parkdale High School for their efforts to prepare themselves for their financial futures," said Dr. William R. Hite, Jr., Superintendent of Schools, Prince George's County Public Schools.
"Parkdale High School is incredibly proud to be chosen by Capital One Bank to bring this once-in-a-lifetime opportunity to our students," said Cheryl Logan, Parkdale High School Principal. "Many local families - parents of our students - have been challenged by recent economic times, and we want to teach our children how to prepare for their future. Through this program, we are providing our youth with the critical skills and practical experience that will help them to succeed in the real world."
Through the branch, students - under the management and mentorship of Capital One bankers - operate a real bank branch, providing savings products and services for their fellow students, teachers and administrators. The student bankers are also responsible for teaching their peers the importance of basic money management skills such as budgeting and saving. In addition, through partnerships with local colleges and universities, the students receive higher education and career preparatory experiences.
"Working with our partners at Parkdale High School, our goal is to bring an effective and sustainable financial education program to Prince George's County," said Michael Pugh, Prince George's County Market President for Capital One Bank. "We recognize that, now more than ever, financial literacy, as well as fiscal management and responsibility are key building blocks to success, not just for our students, but for us all. Through our investment in financial education, we hope to lay the groundwork that will allow our student bankers, their classmates and the broader community to benefit."
The program is designed to provide critical life-skills training, connect students to industry professionals for mentoring opportunities, develop career awareness and work readiness skills, promote sound money management skills and positively influence academic achievements. Student participants in the program report that they not only feel more prepared to manage their finances in the future, but that they have helped their peers and family members learn important money management skills as well. Nearly all of the former student bankers have since enrolled in college.
"I have opened my eyes and realized that education plays a huge role in our lives," said Bladimir Martinez, a Parkdale High School Student Banker. "Before this program I wasn't really considering college, but now that has changed. This opportunity that I have at hand today has given me more than enough reasons to seek a change in my life. I now dress differently; I now speak differently; I now circle myself with a different crowd; and most importantly, I now make different decisions."