Neighbors Federal Credit Union contributed $68,340.30 to 15 participating schools during the 2019-2020 school year. The funds came from NFCU’s Mascot Checking Program, a news release said.
Mascot schools have earned a total of $163,556 since the Mascot Checking program launched in 2014. Walker High School earned the most contributions from the Mascot Checking Program this year with $15,402 followed by Denham Springs High with $10,508 and McKinley High with $10,364.
These checking accounts come with a school-branded debit card and Neighbors contributes money to the school for each debit card swipe. After the school has 100 active Mascot Checking Program accounts, the school earns 10 cents per swipe, and the schools earn 5 cents per swipe before the first 100 active accounts.
“Because of how this product is designed, there really is no limit to what we can provide for schools,” Neighbors President and CEO Steve Webb said. “We’ve seen schools start drone programs, furnish new computers and provide essential materials over the years. We look forward to seeing schools continue to innovate education with these funds.”
In addition to receiving contributions generated from the checking account program, the participating schools are invited to annually select a graduating student to receive a Neighbors Way Scholarship. The foundation has awarded $95,000 in scholarships.
The third and final component of the Mascot Checking Program is providing complimentary financial education to the students. Neighbors FCU’s financial literacy coordinator makes regular appearances to each school, and Neighbors provides free financial literacy curriculum to the schools. Neighbors has financial literacy centers at Walker High and Denham Springs High.
Schools participating in the Mascot Checking Program include Baker High, Central High, Denham Springs High and Walker High.
Learn more about Neighbors Mascot Checking Program at neighborsfcu.org/personal/checking-account/mascot-checking/.