PROVIDENCE – Rhode Island Credit Union will be the official “bank” of Exchange City when the student-run community opens its doors Wednesday morning.
In the full-day immersive learning program, schoolchildren work to keep their own city going, taking “jobs” from top to bottom in the Exchange City mayor’s office, police department and courthouse, plus a newspaper, restaurant, bank and other local businesses.
The students write résumés, complete job applications and interviews, receive job training and dress for work in uniforms or business attire. They start businesses, make and market real products, pay workers in Exchange City “dollars” and apply for loans. Forty hours of classroom training in social studies and economics prepare students for the program, which helps them acquire personal finance skills while exploring career options and learning about the role of consumers and producers in the U.S. economy. (READ MORE)
The program was founded by the Learning Exchange of Kansas City in 1980, and is now owned and distributed by Experiencia Inc. It has grown to 21 Exchange Cities nationwide, serving about 150,000 students.
The local program was launched last May in the Paramount Building at Johnson & Wales University with the help of JWU, the Cody Foundation and The Champlin Foundations.
As a sponsor, RICU will give its name to the Exchange City “bank.” The program still is seeking corporate community partners to sponsor 14 Exchange City businesses.
Rhode Island Credit Union, founded in 1946, is a state-chartered, federally insured, member-run institution with more than $190 million in assets. Membership is open to anyone who lives or works in Rhode Island. RICU has branches in Providence, Bristol, Burrillville, Cranston and Kingston. For more information, visit RICreditUnion.org. To learn more about Exchange City, visit exchangecity.org.
