Celebrating the 10th anniversary of student-run credit union

Just over 10 years ago, a survey circulated at Winnipeg’s Technical Vocational High School.

The results showed that students at the school, commonly known as Tec Voc, felt short-changed—they were missing access to financial services and financial literacy programming.

Teachers and administrators at Tec Voc, seeing an opportunity, approached Assiniboine Credit Union and came up with the idea for Stingers Credit Union, a branch of ACU run entirely by students with training from ACU’s financial services professionals. In December 2014, Stingers Credit Union started running the school’s canteen and providing financial services and advice to students.

Alluding to the school’s mascot—a hornet—Stingers Credit Union is primarily run by the school’s Grade 11 Applied Commerce students. Students working at Stingers gain valuable skills in handling cash, dealing with confidentiality, behaving professionally, communicating with clients and each other and providing other client services.

Services provided by Stingers include financial advice, opening chequing and savings accounts, and handling withdrawals and deposits. Stingers members also gain an ownership stake in ACU, just like every other member of the credit union.

Stingers: a commitment to community & co-operation

For ACU, opening a student-run branch at Tec Voc made perfect sense. Not only was it a valuable way to build Winnipeg’s financial services talent pool while helping students gain valuable skills, it also fits in perfectly with ACU’s commitment to Manitoba.

“This partnership was built on our shared values of community, education and co-operative principles—values that remain at the heart of everything we do,” said Andrea Dysievick, ACU’s Chief Retail and Wealth Officer, in a speech commemorating the 10-year anniversary of Stingers. “The results have been extraordinary. Over 300 students have been actively involved in Stingers’ operations, providing nearly 900 of their peers with financial services and empowering them to become account holders and member-owners of ACU.”

The program’s 10-year lifespan has led to incredible results: increased financial literacy and services for students and a youth-led cooperative entrepreneurial leadership experience.

“They’re building confidence and gaining valuable employment skills at an early age,” said Mani Sheppard-Luangkhot, Manager of Financial Access Programs at ACU. “With that confidence, they’re engaging in more meaningful financial discussions with their peers and families.

“For example, students might ask their parents, ‘With our family’s finances, what are my options for post-secondary schools?’ These students can help their families plan and have conversations about loans, credit cards and tuition.”

Students gain skills, experience – and a career path

For students in Stingers Credit Union, it’s more than an extracurricular activity. For some, it ends up being a career path.

“I graduated from Tec Voc in 2021, and I’m currently studying accounting, which I plan to pursue as a career,” said Carlu Canlas, a former participant in Stingers CU who now works for ACU. “I really valued my time at Tec Voc and Stingers because I got to explore career paths and get hands-on experience. Shortly after graduating, I applied for a part-time position as a Member Service Representative with ACU and they hired me. I believe the time and experience with Stingers was one of the factors that led to my successful candidacy.”

Rhea Calzo, another student who works for ACU, and is pursuing a Bachelor of Arts degree in Political Science and Criminology, echoes Carlu’s comments.

“Being involved with Stingers allowed me to develop customer service skills and gave me the skills I now use at ACU.”

Rhea noted that her involvement with Stingers also led to an interview with the Winnipeg Free Press, where she and Carlu were recognized as being among the youngest accountants in the field. Rhea also credits her experience with Stingers for aiding her community advocacy work, for which she earned a Winnipeg 150 medal in October.

Ten years since opening, Stingers is here to stay

While there are concrete benefits to Stingers for both students of Tec Voc and ACU, for Mani, some of the benefits are a little closer to home.

“Over the past decade, Stingers Credit Union has not only helped students understand the value of saving and managing money but has also built leaders, inspired careers, and strengthened our school’s sense of community. It provides our students with financial literacy skills and real-world experience with a far reaching impact both in their personal and professional journeys.”

— Kathleen Mira, Applied Technology & Commerce/Light Vocational Department Head, Technical Vocational High School

“The impact of Stingers is truly inspiring,” Mani said. “I often wish similar programs had existed when I was younger, as gaining financial knowledge early could have made a meaningful difference for my family and possibly lessened some of the financial pressures on my parents.

“It’s inspiring to watch students learn from and support each other. I’m incredibly proud of them. Young adults don’t always want to hear phrases like ‘it’s too expensive’ or ‘we don’t have a budget for it,’ but seeing them take control of their financial futures is truly rewarding. The students are more connected than we are, and it’s incredible to see how they collaborate and share knowledge with one another.”

And the program just keeps growing.

“When we first started, we had a handful of interested students. But for the past five years, we’ve had over 20 students each semester who wanted to take part.

“Breaking down barriers to financial services and offering financial education is an invaluable support for students. It benefits them both academically and in life, regardless of the challenges they may encounter.”

In addition to exposure to boots-on-the-ground financial services work at Tec Voc, ACU provides other perks for students, including sponsorships for events and camps, and a budget to order supplies and swag.

“This partnership is a testament to what can be achieved when organizations come together with shared values and a common purpose,” Andrea said. “It has provided students with confidence, hands-on learning and career opportunities, while also strengthening Assiniboine Credit Union and deepening its connection to the community.”

Learn more about the ways ACU invests in community, by providing financial services for the betterment of our members, employees and communities, and how we we invest our skills and resources to create positive social impact.

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