Premier Community Credit Union CEO Paul Yang said the newly opened student-powered branch at Manteca High has been his dream for a long time.
He made that known during his speech at the official grand opening Thursday of the Buffalo Premier Credit Union. The event also served as the ribbon-cutting ceremony conducted by the Manteca Chamber of Commerce.
The campus financial institution falls in line with the history of Premier Community. When it was chartered in 1931, its main purpose was to serve Stockton’s teachers. As the business grew through the decades, it started to serve the general public as well, opening its membership to anyone who lives or works in San Joaquin County.
Today, Premier Community Credit Union’s assets totals more than 100million and services more than 12,000 members throughout the county, according to information provided by marketing manager Michelle Burns.
Below, Yang answers some of the most frequently asked questions about the credit union.
What made Premier Community want to become involved in the Buffalo Student Credit Union?
Yang: “Premier Community Credit Union is proud to be a part of this endeavor where students not only get real life experience, but education in financial literacy. The students involved are trained to educate fellow students about financial services and the options they have. Furthermore, we would be promoting financial literacy to the students at Manteca High and some of the surrounding schools. The financial education is extremely important and should be a part of the curriculum for all students before graduating high school.
How did this project come about?
Yang: Other schools and credit unions have partnered to provide such service in other countries and states. Manteca High and Premier Community Credit Union discussed initially about providing financial education for students and led to this program. It is a first for San Joaquin County, and it has been our pleasure to work with Manteca High and Manteca Unified School District to provide this program.
How has Buffalo Premier Credit Union done so far?
Yang: This program is still new. So far, they have done a fantastic job from training and opening many accounts already. This program will train students not just in financial services but how to provide information to members so that they can make wise choices. The student staff members will have a set of target goals for the year, and we hope to celebrate their successes in June.
What are your hopes for this program?
Yang: The reason for this program is to help the student staff not only gain experience but to help them to see what a real life work is like in the financial services industry. In addition, they will be given opportunities to further develop the work attitudes and the skills necessary to be successful in their future careers. Also, we would like to create a financial literacy awareness in the education system so that it becomes a part of the required curriculum. With so many students in so much debt out of school, it is imperative that they are taught how to manage finances and the importance of savings early on in their age.
Premier CEO weighs in on student credit union pluses