GONZALES, La.–Ascension Public Schools is seeking to bring a credit union to the campus of East Ascension High School to help teach financial literacy, but a 2017 opinion from the attorney general stands in the way.
In response, the school board passed a resolution to request a new opinion from the AG and is hopeful the AG will see the success of financial institutions on campus at other parish schools and grant a favorable opinion, according to WBRZ.
“One of our missions is to make sure that our students are best prepared for whatever they’re going to do when they leave us,” Ascension Public Schools Director of Secondary Education Beth Templet told the news outlet. “Obviously, there cannot be anything more beneficial than to manage their money and do so wisely.”
Educational Role Stressed
In 2017, the school board requested an opinion from then-AG Jeff Landry about bringing a local credit union onto a school campus. That opinion said Ascension Public Schools did not have the authority and said a credit union on campus is not an academic use of a school building, which must be used for educational purposes, according to the report.
The opinion also stated that even with students working as tellers, the AG did not believe such activity was more educational than other jobs and questioned the benefit to students.
Ascension Public Schools disagrees.
“It would be educational. Again, we have a requirement to teach financial literacy and we all know that students learn by being able to practice and that is what we would hope to be able to do,” Templet said.
The reference is to Act 267, which went into effect with ninth graders entering the 2024-2025 school year. The law, signed by former Gov. John Bel Edwards, requires students to take one financial literacy course during high school, WBRZ said.
Numerous local media reports have pointed out that other schools in Louisiana have credit unions on their campuses, such as Walker High School and Central High School, which partner with Neighbors FCU.
Brusly High School includes a branch of Essential Federal Credit Union, staffed by four high school juniors and seniors under the supervision of an Essential FCU employee.
