Education Programs at First New York

We are committed to youth education.
We were formed in 1937 as a Teachers' credit union and although we are now community chartered, we remain dedicated to the financial education of area youth. We partner with 29 public school districts and colleges in the Capital Region and have 5 high school branches: The Patriot Branch at Schenectady High School, The Warrior Branch at Mohonasen High School, the Schoharie Valley Branch at Schoharie High School, the Eagles Branch at Duanesburg Middle/High School, and the Falcons Branch at Albany High School.

Please contact Christy Smith – Director of Member Services, about starting a program in your school! 

The Purpose of a High School Branch

• To educate students in the area of financial marketing and service delivery, by providing hands-on experience.
• To offer the student population the opportunity to learn personal financial responsibility with account ownership.
• To teach the students participating in the branch life skills in leadership, service and the basic skills of a Teller.
• To teach the marketing students the fundamentals of financial marketing and sales.
• To increase our youth membership with the intent of helping them become better-educated consumers of financial services.

Credit Union Responsibility
First New York FCU is committed to providing a financial transaction system and complete Teller, security and marketing training of students and supervising staff, with on-going support for the advising Teacher/Administrator. In-school branches follow all procedures for operation of branch activities as provided by First New York.

School Responsibility
To provide a secure environment in which to operate a credit union branch, with appropriate candidates to act as Tellers and marketing representatives for the branch operation. The School provides supervision of the student staff and branch during business hours, as well as security measures as agreed upon.

What can a student run branch do? 

• Accept Deposits of Checks and Cash
• Check Cashing
• Withdrawals & Transfers (transaction amount restrictions apply)
• Loan Payments
• New account opening
• Distribute new account materials
• Quote Rates
• Explain features and benefits of credit union products 

Marketing and Promotion 

• First New York provides training and support for students participating in the financial marketing or business classes, including instruction on selling the credit union products and services. The students are fully versed in the features and benefits of credit union membership.
• The students from the marketing/business class participate in the branch opening, including: naming of the branch, membership promotions and branch promotions, using incentive gifts for new members (provided by First New York).
• The credit union assists the teacher and class in design, creation and distribution of marketing materials to promote the credit union.
• In the past 5 years the students have created special products for the credit union, including: Prom club, Yearbook club, and a points reward program.

Elementary School Savings Program

At First New York we believe offering an Elementary School Savings program is an excellent way to teach students financial literacy skills at an early age. Children who learn to save today will be more likely to make wise savings and investment decisions in the future.

We welcome the opportunity to review with you our Elementary School Savings Program. First New York has partnered with local school districts for many years, with customized programs that meet each school’s individual needs.

Through our Elementary School Savings program students are encouraged to join the credit union by opening up their first savings account. First New York matches their initial deposit - up to $5.00. Students can continue to save by making deposits on a designated School Banking Day. They may conduct additional transactions at any First New York branch, where they can earn incentives for saving money. They are also encouraged to bank online via First OnLine – where they can monitor every transaction while practicing their computer skills.

We provide all the tools necessary to implement the program:

• Application Form
• Informational Booklet explaining how the Elementary School Savings program works
• Deposit Slips
• Deposit Envelopes
• Transaction Registers

Our Elementary School Savings Program is a proven success that is easily adaptable to individual school needs