Youth Services Content

Youth Services

Student-Run Branch

HomeTown Credit Union is a proud partner with Owatonna High School.  In September 2011, we opened a Student-Run Branch inside of OHS. The purpose of the student-run branch is to:

  • Encourage all students to save
  • Serve as a model for financial responsibility for OHS students
  • Provide employment and mentorship opportunities
  • Offer a working partnership with teachers to collaborate and provide curriculum enhancement.

This Student-Run branch is the first of its kind in Minnesota.  Each school day this location is open over lunches to serve students, administration and staff.  In addition, HomeTown Credit Union student employees are available along with other HomeTown staff to present in classes on a variety of financial topics.

In the 2015-2016 school year, HomeTown Credit Union representatives have supported this partnership by:Sam and Kurt

  • Presenting in classrooms on various topics including:
    • Financial aid and student loans
    • Maintaining a budget
    • How to use a savings account
    • How to use a checking account
    • How to build and maintain good credit
    • Fraud, scams and identity theft
    • Investing and planning for the future
    • Employment application and interview skills
    • Careers in finance
  • Serving as S.T.R.I.V.E. Mentors.  S.T.R.I.V.E.  stands for students taking a renewed interest in the value of education.  This program is sponsored by the Owatonna Rotary program, and it focuses on helping students set goals to improve and be successful in the future.  The S.T.R.I.V.E. program also offers scholarships to students.  Funds raised from the annual August S.T.R.I.V.E. run support these scholarships.  HomeTown Credit Union is also a proud sponsor of the S.T.R.I.V.E. run.
  • Serving as Junior Achievement Volunteers.  Junior Achievement aims to prepare students to succeed in school and beyond by teaching them about the impact that they can have in the world around them.
  • Assisting the DECA program with judging sales demonstrations. DECA focuses on teaching students to be academically prepared, community oriented, professionally responsible and experienced leaders while centering on the themes of marketing, finance, hospitality and management.

Student Loans

Private Student Loan Program

HomeTown Credit Union offers private student loans through a partnership with cuStudentLoans, a credit union managed network. Private student loans serve as a way for students to fill the funding gap between the cost of attending school and the amount of federal loans, grants and available scholarships.

Private Student Loan (cuScholar)

The cuScholar private student loan can be used to pay for any qualified education expense including tuition, room & board, books and other school related expenses. There is no repayment penalty and borrowers are required to make a modest $25 minimum payment towards interest while in school to promote responsible repayment habits and pay down some interest accrual.

Low Rates with Great Benefits!
  • Competitive interest rates, and with good grades, potential for even lower rates
  • 1% interest rate reduction once 10% of the loan principal is repaid during full repayment
  • 30-day no-fee return policy allows you to cancel the loan without fees or interest
  • No origination fee for all student borrowers

Click here for more information or to start the application process.

Private Student Loan Consolidation (cuGrad)

A private student loan consolidation allows borrowers the ability to consolidate and refinance one or multiple student loans into one loan at a potentially lower interest rate. You can consolidate federal and private student loans with a cuGrad Student Loan Consolidation.

  • Simplify your finances with one easy monthly payment
  • Lower payment and competitive rate with extended repayment term
  • Cosigner release available after 12 on-time principal and interest payments
  • Interest-only payment option up to 4 years followed by standard repayment

Click here for more information or to start the application process.

Youth Accounts

Today’s youth are tomorrow’s leaders. HomeTown Federal Credit Union recognizes the importance of educating our youth so they are prepared to meet tomorrow’s challenges. We offer youth accounts designed to teach good financial habits from infants up to young adults. Look to your Credit Union to help get your children off on the right foot financially.

Kirby Kangaroo Account
  • 11 years or younger
  • Prize incentives for every $25.00 saved
  • Birthday letter
  • Kirby activities
Steps Accounts for Teens
  • 6 month No-minimum Certificate of Deposit
  • Money Market Savings - $100 minimum
  • FREE checking
  • ATM card
Credit Builder Loans
  • No cosigner required
  • Borrow any amount from $500 to $3,000
  • 12 month repayment term
  • Proceeds are frozen in a savings account, and available to be accessed once the loan is paid off in full
  • A  great way to save up for a new phone, a computer or even a down payment on a car
Contact your Credit Union representative for more details.

Scholarships

HomeTown Credit Union offers several scholarships for high school youth throughout the year. Please check back often for the latest scholarship information.

 HomeTown Credit Union 2017 Scholarship

The HomeTown Credit Union 2017 online scholarship application is now available.  The scholarship amount is $500.  To qualify you must be a member in good standing of HomeTown Federal Credit Union for at least six months prior to the application date, be a graduating high school senior pursuing post high school education during the 2017/2018 school year, and be planning to attend a private  or public college, university, community college or technical college accredited by the U.S. Department of Education.  The application deadline is 5:30 p.m. on Friday, April 21st, 2017. Apply Now