Students are helping students manage their money at NSCC

Educating and empowering students

For months, East Coast Credit Union’s Dartmouth office has been buzzing with excitement about a new project: The first fully student-operated credit union branch at the NSCC Waterfront Campus. Inspired by the energy and enthusiasm of NSCC students and faculty, the branch officially opened in March of 2016.

The new student branch has two main goals. First, to help all young people become more financially savvy and give them the tools they need to make good financial decisions today and well into the future. Second, we all know how important it is for students to gain real world experience while they’re still in school. All of the Waterfront Campus employees are finance students from NSCC’s highly acclaimed Business Administration program. Here, they’ll have the opportunity to learn about our business and the financial industry, and put their commerce skills to use helping their peers. 

In an era where we are inundated with financial options, professional guidance has become more important than ever. And we can all benefit from a little help, especially when we’re young. With so many financial institutions willing to capitalize on inexperience, it’s imperative that Nova Scotia’s youth are educated and financially literate.

Dartmouth is fortunate to have a large extended community at the Nova Scotia Community College. It’s the job of community leaders to invest in our young minds. The NSCC East Coast Credit Union branch will help students meet their goals and transition into meaningful employment.

How it works

The fourth floor of NSCC’s beautiful Waterfront campus now hosts an East Coast Credit Union kiosk with fully trained student employees ready to serve their peers.

All student employees receive a combination of comprehensive online and in-office training at East Coast Credit Union in Dartmouth. In fact, it’s the same training every new credit union employee receives. The new representatives are already providing students with sound financial advice on how to best manage their budgets, savings, and student loans. NSCC students can also open new accounts and learn how to take full advantage of the new East Coast Credit Union mobile app. Student employees also have access to the full range of staff in the main Dartmouth branch to ensure every on-campus question can be answered, and they have the support they need.

The NSCC employees are business students currently studying for a career in the finance industry, so ECCU is working with faculty to make sure students are getting the most out of their employment and embracing the experience along with all of its challenges and rewards.

Tailored to student needs

In addition to helping students avoid the temptation of credit card offers and other risky quick cash solutions, the NSCC branch focuses on making sure students understand how today’s decisions can directly impact their future.

The NSCC branch can help students:

• Protect and maintain a good credit score while in school. This means borrowing an appropriate amount of money and making sure bills are paid on time and on schedule.
• Plan and budget personal finances. Spending has to stay under control, but this doesn’t mean you can’t have any fun. Students can build their own financial calendar and decide when it’s time to be frugal and when it’s okay to spend.
• Learn how to invest money from part-time work. You don’t have to make a lot of money or have a full-time career to start saving for the future. Students can decide which option is best for their short and long-term needs.
• Understand how to file annual taxes. Just because you’re in school, doesn’t mean you’re exempt from submitting tax returns. There are a lot of tax advantages while you’re a student and everyone enrolled at NSCC should understand both their obligations and benefits.

Credit unions across Atlantic Canada are very excited about this initiative and can’t wait to see the positive benefits it brings to the next generation of leaders. Next time you’re visiting the NSCC Waterfront campus, make sure to stop by and say hello to the impressive new team.