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Franklin High Opens Bank

Published March 12, 2009

Franklin High School students now have a bank to call their own. On Wednesday, March 11, a ribbon cutting ceremony was held to open the Franklin Financial Center, FFC. FFC is an in-house bank for students and staff which will provide basic savings account services as well as offer small loans.

The bank is a joint effort between Maria Shepherd’s banking and finance class at Franklin and Cadence Bank. Cadence Bank Manager Al Gregory is a 1997 graduate of Franklin High and a former student of Shepherd’s.

"Cadence Bank is so pleased to be able to partner with Franklin High School," said Gregory. "Being a community banker and a Franklin Rebel, the idea of helping the school start Franklin Financial Center is a privilege and honor."

The school bank is located in an office that was specifically designed for it when the new school was constructed. “This is the first year for the banking and finance class,” said Shepherd. “The students have worked very hard and enthusiastically to see the student-run bank become a reality.”

Shepherd said the primary mission of FFC is to encourage financial responsibility among the Franklin High family. “Interest on savings accounts will be paid in the form of gift incentives that have been generously provided by local businesses,” said Shepherd. “Those include coupons for free products and services.” The bank will charge a transaction fee for each loan that is payable according to terms on the promissory note.

The bank will be open during lunch each school day, except Wednesday, for sophomores, juniors and seniors. The bank will expand to include the freshmen lunch next year. Students will serve as tellers and shift supervisors at the bank on a rotating schedule and will be spending their own lunch period to better serve fellow students.

Special notes of appreciation for support and funding are extended to David Hicks, President and CEO of Cadence; Michael Barker, Cadence; Jackie Baggett, Career & Technical Department; and Willie Dickerson, FHS principal.