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Friday, July 12, 2024

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BANK ON IT: With support from Regions, student-run Trezevant Savings Bank offers real life lessons about money

It was an unusually busy day at Trezevant Savings Bank in Frayser. And if you’re wondering why you’ve never heard of that financial institution before, it’s because it’s in a school, and it’s run by students.

Wednesday was a “grand opening” of sorts at the Trezevant Career and Technology Center on Range Line Rd. Because while the school has operated a student-run bank there since 2007, that bank is now officially affiliated with Regions Bank.

“A previous administration had the vision to start it in 2007,” said Trezevant CTC Principal Eleanor Thomas. “Instead of just having a class, we have a bank — so they can practice. So they can learn how to save, how to manage money, how to plan for retirement. This is an opportunity to really do it, to learn by doing.”

For just $5, students — anyone, really — can open a savings account at Trezevant. And with the account backed by Regions, deposits are FDIC-insured. Thomas said Regions’ support will also involve financial education for students as well as the community at large.

Markeazia Mayhorn, 15, is a sales clerk at the bank.

“I’ve learned that it’s best to save up,” said Mayhorn, a sophomore at Trezevant High. “Because you never know what you’ll need in life.”

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