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HVSB Financial Literacy

Huron Valley State Bank - Milford, Michigan

2020 Community Commitment Awards Submission

  • Entry Category: Financial Education
  • Asset Size: Small

Huron Valley State Bank has been actively involved in financial literacy since 2011 when the bank opened its first student run bank at Spring Mills Elementary in Highland, Michigan. Since then, four additional partnerships have been formed equating to more than half of our Elementary Schools within our district offering this program. The student run banks are located inside each of the schools and teach hands-on financial literacy, money management, and provide a real-life banking experience. Fifth grade students applied and interviewed for positions at the start of the school year. They were trained for actual banking jobs to accept money from their fellow classmates for deposit into their bank accounts. The Bank at School program runs once a month in each of the elementary schools from November to May, with a celebration at the end of the school year. In addition to working with the Elementary Schools, Huron Valley State Bank has been a guest speaker in the fall and spring at Milford High School in a Personal Finance Class for several years, presenting on topics including the basics of money, lending, budgeting, and scams. We have reached over 500 students over the past 3 years. This past spring the Bank presented to 6th graders at White Lake Middle School during their RIOT time (also known as seminar or homeroom) for four days in November on topics relating to money, how a bank works, savings, and writing a check.