MEMPHIS, Tenn. — Students at Trezevant Career and Technology Center are taking a new approach to learning financial literacy.
The Trezevant Savings Bank was open for business in Frayser, fully staffed with employees looking to help people save money. But those employees are all still in high school.
"I'm a sales clerk," 10th grader Marquazia Mayhorn said. "I just help people. I tell them what the bank is about."
Since 2007, the bank has been located inside the Trezevant Career and Technology Center with the vision of teaching the next generation how to be financially responsible.
"So, instead of just having a class, let’s get the bank, so they can practice and learn about the different opportunities," said Eleanor Thomas, Trezevant Career and Technology Center principal.
Thomas said the bank is getting a reboot thanks to a partnership with Regions Bank.
She said students learn about saving and managing money while being exposed to real-world career opportunities in the banking business. Thomas said students as young as 14 years old are eligible to open an account.
The Trezevant Savings Bank is not just open to students, but also to anyone in the community who has $5 to start an account.
"It's best to save up because you never know what you’re going to need in life," Mayhorn said.
If you’re wondering where the money goes at the end of the day, Thomas said all the funds are put into a safe at Regions Bank. The savings account can then be accessed from the school.
The bank is open Monday through Friday 8:15–9:30 a.m., except for Tuesday, when it is open from noon to 1:15 p.m.
Correction: An earlier version of this story incorrectly listed other locations where the account can be accessed.