Student bankers receive hands-on training and learn life
skills, reflecting financial education desires of parents
nationwide
Union Bank today announced the grand opening of its fifth
student-run branch and the first in partnership with the El Monte
Union High School District at Mountain View High School located at
2900 Parkway Drive in El Monte, California.
The high school branch is part of an innovative program designed
to provide students with real-world financial education, work
experience, and mentoring opportunities. Located inside the
Mountain View High School campus, the student-run branch is staffed
by 10 student bankers who acquire skills in finance, as well as
teamwork, leadership and the hands-on experience of working in a
bank overseen by a seasoned Union Bank branch manager.
Traditional banking products and services are available to
students, school staff, school administrators, and teachers. As
part of their learning curriculum, the student bankers offer
financial education workshops and classroom presentations to their
peers in an effort to expand the learning experience to other
students at the school.
“The Mountain View student-run branch is a milestone, and we are
thrilled to partner with Union Bank and participate in this
program, which is vital to providing hands-on learning for our
students,” said Larry Cecil, Mountain View High School principal.
“In addition to the valuable money management skills they are
learning, this experience is helping them to become young adults
who know how to work together, interact with customers, and adapt
to real-world situations, all life skills that they will use after
graduation and beyond.”
The students also attend classroom finance classroom sessions
led by Mountain View High School Instructor, Mary Boutte. In
addition to building skills in finance, leadership, management and
marketing, the students receive a $500 stipend for working in the
branch and a $1,000 scholarship for college when the course is
completed.
About the Mountain View Branch
Team
Anthony Barrios, an El Monte native, manages the Mountain View
branch. He has nearly a decade of banking experience and has been
with Union Bank since 2007. Barrios graduated from Cal Poly Pomona
with a bachelor’s degree in liberal arts. He is joined by 10
student bankers and Branch Service Officer Sergio Martinez, who has
been with Union Bank since 2000. Martinez, who also volunteers with
Junior Achievement to support financial education, is fluent in
English and Spanish.
The branch is open during the school year Tuesday through Friday
from 10 a.m. to 3:30 p.m. The branch offers traditional banking
products and services, such as checking and savings accounts, and
ATM and debit cards, for students, faculty, and administrators.
Financial Education – What Parents
Want
To gain further insight into financial education trends, desires
and views from parents and guardians across the country, Union Bank
recently commissioned a national study conducted online by Harris
Poll in March. The majority (95 percent) of parents/guardians with
a child under 18 living in the household want their children to
learn more about how to save money but only 36 percent strongly
agree their children have adequate resources for learning how to be
financially responsible by the time they’re 18.
“The bank’s recent study confirms the importance of having
appealing resources for our youth to learn financial
responsibility,” said Union Bank Managing Director and Regional
President Leticia Aguilar. “We remain passionate about providing
valuable financial management skills through our high school
branches. Union Bank recognizes that empowering students with life
skills that will serve them well in the future ultimately
strengthens our communities.”
Additional results from the nationwide survey reveal that the
majority (56 percent) strongly agree that it’s very important for
their children to have a savings account, 79 percent say their
children should spend less of their money in order to save more and
58 percent agree their children want to talk more with adults in
their life (e.g., parents, teachers) about how to save money*.
“We’re finding that the student-run branch program helps foster
discussions about money between students and their peers as well as
with adults,” said Union Bank Managing Director Jan Woolsey who
oversees the program. “Encouraging conversations about money
management has been part of the success of the program. The
students are learning a lot, but parents, other students, friends
and family in general, also learn from them. This program is
sparking interest in what we hope remains a national dialogue.”
Union Bank Student-Run Branches
Union Bank opened its first student-run branch in 2011 in
Fresno, California at McLane High School. As a result of the
success achieved through that program, in 2014, the bank introduced
the concept to two high schools in the Greater Los Angeles area --
Abraham Lincoln High School in Lincoln Heights and Crenshaw High
School in the South Los Angeles area. In January, the bank
announced a student-run branch at Loara High School in Orange
County. To date, more than 100 student bankers have graduated from
the program at the three schools in Fresno and Los Angeles.
El Monte Union High School District
Located in the heart of the San Gabriel Valley, the El Monte
Union High School District (EMUHSD) was established in 1901. Its
high schools include Arroyo, El Monte, Mountain View, Rosemead,
South El Monte and Fernando R. Ledesma High School. EMUHSD also
features the El Monte‐Rosemead Adult School, one of California’s
largest and most respected adult programs. The District
employs more than 1,200 employees, and the professional staff
provides educational programs for more than 9,000 students in
grades nine through 12 and 13,000 in adult education. EMUHSD is
proud to provide financial literacy, work experience and mentoring
opportunities to our scholars. We are very appreciative of the
partnership that we have with Union Bank. For more information,
visit www.emuhsd.org.
Survey Methodology
This survey was conducted online within the United States by
Harris Poll on behalf of Union Bank from March 1-3, 2016 among 442
adults ages 18 and older who are parents/guardians of children
under 18 in their household. This online survey is not based on a
probability sample and therefore no estimate of theoretical
sampling error can be calculated. For complete survey methodology,
including weighting variables, please contact
erika.montelongo@unionbank.com.
About The Harris Poll
Over the last five decades, Harris Polls have become media
staples. With comprehensive experience and precise technique in
public opinion polling, along with a proven track record of
uncovering consumers’ motivations and behaviors, The Harris Poll
has gained strong brand recognition around the world. The Harris
Poll offers a diverse portfolio of proprietary client solutions to
transform relevant insights into actionable foresight for a wide
range of industries including health care, technology, public
affairs, energy, telecommunications, financial services, insurance,
media, retail, restaurant, and consumer packaged goods. Contact us
for more information.
About MUFG Union Bank, N.A.
MUFG Union Bank, N.A., is a full-service bank with offices
across the United States. We provide a wide spectrum of corporate,
commercial and retail banking and wealth management solutions to
meet the needs of customers. We also offer an extensive portfolio
of value-added solutions for customers, including investment
banking, personal and corporate trust, global custody, transaction
banking, capital markets, and other services. With assets of $115.4
billion, as of December 31, 2015, MUFG Union Bank has strong
capital reserves, credit ratings and capital ratios relative to
peer banks. MUFG Union Bank is a proud member of the Mitsubishi UFJ
Financial Group (NYSE: MTU), one of the world’s largest financial
organizations with total assets of approximately ¥295.8 trillion
(JPY) or $2.5 trillion (USD)¹, as of December 31, 2015. The
corporate headquarters (principal executive office) for MUFG
Americas Holdings Corporation, which is the financial holding
company and MUFG Union Bank, is in New York City. The main banking
office of MUFG Union Bank is in San Francisco, California.
1 Exchange rate of 1 USD=¥120.6 (JPY) as of December 30,
2015.
*In 2013, Union Bank commissioned a similar study conducted by
Harris Poll of more than 1,200 youth that revealed 83 percent
agreed they should spend less of their money in order to save more,
and 76 percent wanted to learn more about how to save money. Eighty
percent agreed it was very important for someone their age to have
a savings account, and the majority of U.S. youth also wanted to
talk more with the adults in their life (e.g., parents, teachers)
about how to save money (63 percent) and wish they had better
sources of information about how to save money (61 percent).
©2016 MUFG Union Bank, N.A. All rights reserved. Member
FDIC.
Union Bank is a registered trademark and brand name of MUFG
Union Bank, N.A.
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version on businesswire.com: http://www.businesswire.com/news/home/20160316005170/en/
Union BankTanya Peebles-HillT: +1-213-236-5329E:
tanya.peebleshill@unionbank.comorErika MontelongoT:
+1-818-425-0998E: erika.montelongo@unionbank.com@UnionBankNews
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