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Fulton elementary students cash in on money management

Students at Fulton’s Fairgrieve Elementary School are withdrawing a new sense of financial literacy from a recent banking program in partnership with Compass Federal Credit Union Bank.

Beginning this year, Compass FCU began making regular, on-site visits to the school during specific bank days. Bank representatives work with students of any grade level to create free accounts for those that choose to participate. On bank days, students who make a deposit can choose a prize from the credit union and enter a chance to win a variety of year-end prizes such as gift cards, ice cream coupons and more. Students must fill out actual deposit slips and receive transaction receipts just as they would at an actual bank. Deposits are then brought back to Compass FCU and placed securely within the system.

“It’s never too early to learn the importance of saving money,” said Dan Kapuscinski, a Fairgrieve parent and the liaison for Compass FCU. “As with anything in life, good habits tend to be fostered early through practice and repetition.  We believe that introducing the importance of banking and money management to students in grades K-6 once a month during the school year is a valuable resource for their overall education as they continue to grow.”

Compass FCU has run a similar program within the Oswego City School District for several years, but only recently started working with Fairgrieve students. Kapuscinski hopes the program will expand to Fulton’s three other elementary schools in the next academic year.