Student-Run Capital One Bank Branch Celebrates Grand Opening at Parkdale High School in Prince George's County, Maryland
RIVERDALE, Md., Oct 03, 2011 (BUSINESS WIRE) --
State and local officials join Capital One Bank and Prince George's County Public Schools today to celebrate the grand opening of the Student-Run Bank Branch at Parkdale High School in Riverdale, Maryland.
The Parkdale High School branch is the first Capital One Student-Run Bank Branch in the Greater Washington, DC region, and the fourth in-school bank branch opened by Capital One Bank since 2007. The Capital One Bank Student-Run Branch program provides students with critical youth development opportunities, real-world work experience and a unique grounding in financial education.
"The administration applauds this commitment to financial education, and I commend the students at Parkdale High School for their efforts to prepare themselves for their financial futures," said Dr. William R. Hite, Jr., Superintendent of Schools, Prince George's County Public Schools.
"Parkdale High School is incredibly proud to be chosen by Capital One Bank to bring this once-in-a-lifetime opportunity to our students," said Cheryl Logan, Parkdale High School Principal. "Many local families - parents of our students - have been challenged by recent economic times, and we want to teach our children how to prepare for their future. Through this program, we are providing our youth with the critical skills and practical experience that will help them to succeed in the real world."
Through the branch, students - under the management and mentorship of Capital One bankers - operate a real bank branch, providing savings products and services for their fellow students, teachers and administrators. The student bankers are also responsible for teaching their peers the importance of basic money management skills such as budgeting and saving. In addition, through partnerships with local colleges and universities, the students receive higher education and career preparatory experiences.
"Working with our partners at Parkdale High School, our goal is to bring an effective and sustainable financial education program to Prince George's County," said Michael Pugh, Prince George's County Market President for Capital One Bank. "We recognize that, now more than ever, financial literacy, as well as fiscal management and responsibility are key building blocks to success, not just for our students, but for us all. Through our investment in financial education, we hope to lay the groundwork that will allow our student bankers, their classmates and the broader community to benefit."
The program is designed to provide critical life-skills training, connect students to industry professionals for mentoring opportunities, develop career awareness and work readiness skills, promote sound money management skills and positively influence academic achievements. Student participants in the program report that they not only feel more prepared to manage their finances in the future, but that they have helped their peers and family members learn important money management skills as well. Nearly all of the former student bankers have since enrolled in college.
"I have opened my eyes and realized that education plays a huge role in our lives," said Bladimir Martinez, a Parkdale High School Student Banker. "Before this program I wasn't really considering college, but now that has changed. This opportunity that I have at hand today has given me more than enough reasons to seek a change in my life. I now dress differently; I now speak differently; I now circle myself with a different crowd; and most importantly, I now make different decisions."
About Capital One Bank
Capital One Financial Corporation is a financial holding company whose subsidiaries, which include Capital One, N.A. and Capital One Bank (USA), N. A., had $126.1 billion in deposits and $199.8 billion in total assets outstanding as of June 30, 2011. Headquartered in McLean, Virginia, Capital One offers a broad spectrum of financial products and services to consumers, small businesses and commercial clients. Capital One, N.A. has approximately 1,000 branch locations primarily in New York, New Jersey, Texas, Louisiana, Maryland, Virginia and the District of Columbia. A Fortune 500 company, Capital One trades on the New York Stock Exchange under the symbol "COF" and is included in the S&P 100 index.
Prince George's County Public Schools (PGCPS) is the 18th largest school district in the nation, with 198 schools, over 127,000 students, and nearly 18,000 employees. With an annual budget of $1.6 billion, the district serves a diverse student population of students living in urban, suburban, and rural communities. PGCPS is nationally recognized for its innovative programs and initiatives, including expansion of Advanced Placement courses, partnership programs with business and higher education, and the FIRST teacher incentive program.
SOURCE: Capital One Financial Corporation