High school opens student-run bank - WALB.com, Albany News, Weather, Sports

High school opens student-run bank

November 10, 2003

Albany- Helen Davis has been teaching math for 31 years. She says she's like a mother to her students even after they graduate.

"I check on them. So, therefore, they know they've got to make Mrs. Davis feel real good so they always try to do their best," she says.

That includes school work as well as life skills, like money management.

"When you have to deal with your own funds you learn how to control better how you disburse them," explains Davis.

Tellers at Capitol City Bank stay busy assisting account holders most of whom are adults, but the CEO is trying to change that.

Welcome to the Dougherty High School Trojan City Bank.

"This bank is owned and operated by the students. This is not a Capitol City owned project, we are simply the sponsors. It is up to the students to maintain this bank, to run this bank, and to make this bank successful," says Capitol City Bank and Trust Company CEO, George Andrews.

Armed with the mathematics foundation Davis and other teachers have given them, the students are not only ready to launch the financial institution but they've already got a marketing strategy.

"I been looking at mostly ninth graders. The senior savings account is a great account especially for ninth graders because senior year is very expensive, and I can tell them that for myself. So, I tell most of the ninth graders to try to come and get a senior savings account. So, by the end of the year I want all ninth graders to have a senior savings account," says Trojan City Bank CEO Russieka Hall.

Working in a real bank plus using Davis's lessons in every day life equals a jump on these students' future as the next generation of financial entrepreneurs.

The Trojan City Bank has three types of saving accounts and even offers an account specifically for clubs and organizations. They operate just like any other account and even draw interest.

Posted at 4:45 PM by elaine.armstrong@walb.com