COMMONWEALTH OF VIRGINIA

DEPARTMENT OF EDUCATION

P.O. BOX 2120

RICHMOND, VIRGINIA 23218-2120

SUPTS. MEMO NO. 92

July 12, 2002

INFORMATIONAL

TO:	Division Superintendents
FROM:	Jo Lynne DeMary Superintendent of Public Instruction
SUBJECT:	Guidelines for Banking-at-School Partnership Programs

The 2002 General Assembly passed legislation that authorized the Department of Education to develop guidelines for local school boards that wish to develop banking-at-school partnership programs with financial institutions.

The guidelines provided in Attachment A were developed by a committee of representatives from the State Corporation Commissions Bureau of Financial Institutions, the Virginia Bankers Association, the Virginia Credit Union League, and schools that participate in banking-at-school partnerships. The provisions included in the guidelines shall not affect the continuation or operation of any existing school bank or school credit union established by public schools and authorized financial institutions in the Commonwealth of Virginia prior to the effective date of these guidelines, July 1, 2002. The guidelines are intended to provide guidance in areas that should be addressed as new banking-at-school partnerships are developed. The provisions of these guidelines expire on July 1, 2006.

For further information about the guidelines for banking-at-school partnerships, please contact Anne Rowe, business education specialist, at (804) 225-2838 or arowe@mail.vak12ed.edu or Dr. Patricia I. Wright, assistant superintendent for instruction, at (804) 225-2979 or pwright@pen.k12.va.us.

JLD/LMW/lgh

Attachments

/administrators/superintendents_memos/2002/inf092a.pdf