The Burbank Teachers Assn. formed the credit union in 1940 and, although its role has expanded to include all Burbank residents, the organization tries to keep close ties with the schools.
"A lot of times teenagers are a forgotten group when it comes to financial problems," McLendon said. "But they're responsible for budgeting things like lunch and what they want to do on the weekend."
The expenses may seem small, but learning to manage a small budget early helps students prepare for the larger expenses they'll handle later in life, McLendon said.
"People think (the room) is really nice, so they just want to go in and look around," said 17-year-old Anthony Moreno, the program's student treasurer.
From there, students are encouraged to open an account, track deposits and withdrawals and monitor their expenses.
"It starts them off," said Anthony, whose mother opened an account for him even before he started high school. "Because sometime or another they're going to have to open an account."
The room is also stocked with information on how to apply for student grants, where to get financial aid and how to avoid predatory credit card companies.
The updated room is one in a series of activities the credit union is sponsoring. Anthony is participating in an internship program with the credit union that will end with a college scholarship. In the fall, the credit union plans to unveil an ATM on campus.
"We're going to put a limit on the amount of withdrawals they can make," McLendon said.
The credit union is also giving away iTunes gift certificates and other prizes to students to encourage them to use the service.
