Many West Salem High School students either don’t know much about the MAPS Credit Union or only know its purpose based on the name.
MAPS is an 88-year-old organization that was founded on November 18, 1935, by teachers of Salem Senior High School due to the 1943 Federal Credit Union Act by FDR.
MAPS was made to financially benefit the teachers and staff of Marion County Schools through the volunteer work of said teachers and staff. They would put a deposit into the credit union, attend board meetings, and assist with assets possessed by the organization.
According to Lucas Kimsy, a student employee at West Salem High School’s MAPS, the organization has the philosophy of, “It’s for the people by the people”.
Being “for the people by the people” inside of a school environment means that it is up to the students to run the credit union and assist in the workings of a small bank.
This gives students first-hand experience of handling large amounts of finances that they do not own, leading to more opportunities in their future in the world of finance such as larger banks/credit unions, high paying jobs at companies, or even owning their own business.
All of these help our students through experience with how the commerce of the world works with a fully functioning bank right in the middle of our school and as student and employee of MAPS Trask Height says, “We help the people give them either their money or maybe they wanted to pause it to us, or, you know, whatever they’d like to do” meaning they are to benefit everyone.
That “everyone” also includes individuals outside of the highschool due to the fact that credit unions act like commercial banks, meaning that any and all currency that is put within the credit union is actively flowing throughout the economy fueling the livelihoods of thousands to hundreds of thousands.
Unlike a commercial bank, a credit union like MAPS is a non-profit organization, meaning its first priority is to its customers. This leads to stricter conditions for loaning out money and greater interest rates leading to a source of income for those that put their money and faith into that credit union.
Storing your money inside MAPS doesn’t only benefit you in the long run, it helps the community of Salem stay on its feet. Through the homelessness, COVID, and inflation that has plagued our city our community, MAPS has remained active and strong through the hard times thanks to their mission of focusing on the people they serve.
