TAMPA, Fla. (Sept. 22, 2015) – A newly renovated and completely student-run branch of the USF Federal Credit Union is open for business in Tampa, one of the first of its kind in the nation. The branch, located in the USF Marshall Student Center, 4103 USF Cedar Circle, was unveiled at a grand opening and ribbon-cutting ceremony on Sept. 21, 2015.
“This branch location offers more than just a coat of fresh paint, however, as it will also be run by USF Muma College of Business students as part of a partnership between the credit union and USF’s business school,” said Richard J. Skaggs, president and CEO of USF Federal Credit Union.
Six students joined the USF Federal Credit Union on Sept. 14 as part-time employees in the new program. Skaggs said that the credit union is happy to introduce the students to the credit union business while showcasing this unique learning model, which covers three years, with students beginning in their sophomore year. While financial oversight for all branch locations will remain the responsibility of the Credit Union Board of Directors, the student-run branch will be led by these students.
“It will be one of the first credit unions on a university campus to offer students a paid internship opportunity while they earn course credit for their work and learning experiences,” Skaggs said. “Our goal is to offer a different and innovative experience for members while providing our students with real life business experience.”
Those business experiences will range from accounting to finance, marketing, operations and management. Students will learn about the underlying business of a credit union and will be able to make decisions and experience firsthand the successes and opportunities that result from those decisions.
While students are not guaranteed a job after graduation, USF Muma College of Business Dean Moez Limayem believes this executive internship opportunity will help students become sought-after hires at credit unions or financial institutions worldwide.
Limayem and USF System President Judy Genshaft participated in the ribbon-cutting ceremony, which marks the official launch of a new partnership and commitment to the university.