ELGA Credit Union Partnership

Richfield Public School Academy and ELGA Credit Union have formed a partnership to operate a student run credit union at the school.  This partnership offers students an educational opportunity in banking skills and the understanding of savings accounts.  The program is also intended to encourage students to save and help them feel comfortable with personal banking.

Each student will be able to open their own personal savings account regardless of whether or not they have an existing account at another bank.  Students will be able to make deposits to their Richfield Public School Academy Credit Union savings account at the school on designated banking days.  Richfield Public School Academy Credit Union is run entirely by students, under the supervision of teachers, parents, and ELGA Credit Union.

The following details are provided for your information:

  1. If you child would like to participate, simply complete the new account information form which is located outside of the main office.  The form must be filled out in ink and signed by both the parent and the student.  Only cursive written signatures are valid.  Click here to download a copy of the ELGA-SCU application form.
  2. Banking day is every Thursday from 12:30-1:30 p.m.
    • Kindergarten – 2nd Grade: 12:30 – 12:50 p.m.
    • 3rd Grade – 5th Grade: 12:50 – 1:10 p.m.
    • 6th Grade – 8th Grade: 1:10 – 1:30 p.m.
  3. Deposits of 50 cents or more may be made on the banking day.  The student must have an existing account or bring the new account application completed in full and signed.
  4. Every time a deposit is made the student will receive a receipt of deposit.  A quarterly statement for the account will be mailed to the address on file with the credit union.
  5. Checks, payable to the student or ELGA Credit Union only, will be accepted for deposit in addition to cash deposits.
  6. No withdrawals can be made at the school.  All withdrawals must be made at an office of ELGA Credit Union. ELGA locations are:
    • 2303 S. Center Rd., Burton
    • 8415 Davison Rd., Davison
    • G6238 Pierson Rd., Flushing
    • 7026 W. Vienna Rd., Montrose
    • 5080 Corunna Rd., Flint
    • 800 West Street, Lapeer

We hope that all parents will be enthused about having their children take advantage of this partnership.  We are certain it will provide a chance for students to gain experience in hands on learning and career awareness.

Family members of students that have savings accounts with the credit union are also eligible to open an account at ELGA Credit Union.