Neighbors Federal Credit Union contributed a combined $53,599 to 13 participating schools during the 2018-2019 school year.
The funds came from NFCU’s Mascot Checking Program, which invites schools within the Greater Baton Rouge area to participate by allowing Neighbors to create a custom checking account for the school.
These contributions more than doubled the $21,383 contributed during the previous school year. Mascot Schools have now earned a total of $97,477 since the Mascot Checking program launched in 2014, according to a news release.
Walker High School earned the most contributions from the program this year with $12,873, followed by Denham Springs High School with $9,806, and McKinley with $9,459.
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 accounts, the school earns 10 cents per swipe, and the schools earn 5 cents per swipe before the first 100 active accounts.
“This program continues to see tremendous growth, and we are thrilled to provide a consistent revenue stream for our Mascot Schools,” Neighbors President and CEO Steve Webb said.
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 scholarship from the Neighbors Capital Area Foundation. The foundation has awarded $45,000 in scholarships.
The Mascot Program also provides complimentary financial education to students. Neighbors FCU’s financial literacy coordinator makes regular appearances to each school, and Neighbors provides financial literacy curriculum to the schools free of charge. Neighbors also has financial literacy centers at Walker and Denham Springs high schools.
This school year, Neighbors introduced two new schools to the program. Parkview Baptist School and The Dunham School will join Baker High, Baton Rouge Magnet High, Broadmoor High, Central High, Lee High, Live Oak High, McKinley High, Port Allen High, Scotlandville High, Southern University Laboratory School and Woodlawn High.
For information on the program, visit www.neighborsfcu.org/personal/checking-account/mascot-checking/.