Madison High School will open a new Student Depot on Sept. 30, a single hub combining a permanent credit union branch, a student-run coffee shop, a food pantry and a clothing closet under one roof. A ribbon-cutting ceremony is scheduled for 9:30 a.m. that day at the school, according to a news release detailing the project.
The Student Depot houses a permanent branch of Theory Federal Credit Union, the 212 Coffee Shop, the Manna Food Pantry, and an MSL Clothing and Care Closet, according to Cleveland.com. The new credit union branch replaces a student-use financial education kiosk that had previously served the school, the outlet reports. Madison Local Schools and Theory Federal Credit Union have worked together on a financial education program for nine years, with students learning financial concepts in class and then applying them through real accounts and financial decisions.
A Bank Where Students Handle Real Money
The credit union is training student volunteers to participate in operations inside the new branch, per the same account. Through the long-running partnership, students learn financial concepts in class and apply them through real accounts and financial decisions.
Theory Federal Credit Union traces its roots to 1955, when it was chartered as Lake County School Employees Credit Union to serve educational staff in Painesville Township and the Madison, Fairport Harbor, Perry, Auburn Vocational and Kirtland school districts before adopting a federal charter in 1995, according to Credit Union Match.
Ohio's Financial Literacy Standards
Ohio's financial-literacy standards set out core areas for instruction.
The state's official Learning Standards for Financial Literacy require instruction across six core areas: financial responsibility and decision-making, planning and money management, informed consumerism, investing, credit and debt, and risk management, according to the Center for Financial Literacy. Ohio has also set specific credentialing rules for who can teach the subject — under regulations updated for the 2024–2025 school year, financial literacy teachers must hold a specialized state licensure validation unless they are already certified in social studies, family and consumer sciences, mathematics or business education, per the Ohio Department of Education and Workforce.
Food Pantry and Clothing Closet
The Student Depot also houses the Manna Food Pantry and MSL Clothing and Care Closet.
The Greater Cleveland Food Bank lists food assistance options in the region, according to the Greater Cleveland Food Bank.
