HAMPTON BAYS, NY — With the goal of equipping students with tax tools, the Hampton Bays School District and Teachers Federal Credit Union have partnered to create a financial center at Hampton Bays High School.
Baymen Financial Center, launched in partnership with Teachers Federal Credit Union, is a financial center established on school property that will provide students with access to a range of resources including financial literacy, banking services for savings, deposits and withdrawals and potential career paths — all within the walls of Hampton Bays High School.
Using $30,000 in New York State Legislature grant funding secured by New York State Assemblyman Fred W. Thiele, the district constructed a “modern and welcoming” banking space inside the high school building, the district said. To ensure guaranteed access for all high school students, Teachers has committed that the financial center will be staffed by a bilingual cashier two days a week from 9 a.m. until 1 p.m.
“We are grateful to Teachers Federal Credit Union for their commitment of time, resources and financial expertise, which will greatly benefit our students and their families,” said Superintendent of Schools Lars Clemensen.
“At Teachers Federal Credit Union, we are committed to giving back to our communities and are excited to partner with the Hampton Bay School District to launch this financial center on school premises,” said Brad Calhoun, president and CEO of Teachers Federal. Credit Union. “This initiative goes beyond banking. Our goal is to empower the next generation with the skills necessary for a financially secure future. We believe in not just serving our members, but actively contributing to the educational and economic well-being of the communities we serve. “
The district has improved its financial literacy and money management curriculum through curriculum writing projects.
“At Hampton Bays, we strive to provide students with educational opportunities that enhance their academic, professional and personal growth inside and outside of a classroom,” said Clemensen. “Incorporating financial literacy into our curriculum will prove valuable to all students as they begin their journeys into the workforce, college and other post-graduate roles in society.”
In addition, to assist with planning, the district has developed the “Cost of Student Experience,” a financial analysis of expected costs for their four years of high school.
“As students plan for their futures, many families find it difficult or impossible to afford many extracurricular expenses,” said Diane Fox, director of bilingual and alternative education, who was instrumental in establishing the Financial Center. “These costs may include class trips, college visits, prom tickets, college application fees, exam costs, and/or school or work supplies. This partnership will provide students with the opportunity and plan to budget and use the funds wisely for their high school and post-high school goals.”
