Authorizes a school board to engage in a cooperative endeavor with a credit union or bank to operate a branch at a high school

House Bill 285 amends Louisiana Revised Statutes 17:81(B) to authorize local public school boards to enter into cooperative endeavors with credit unions to operate credit union branches at high schools. The bill adds a new subsection to the existing statute that governs the general powers of local school boards regarding the use of school buildings. The legislation does not mandate such cooperative endeavors but rather grants school boards the discretionary authority to pursue them. The statutory mechanism requires that any credit union branch operated at a high school must be integrated into the financial literacy course that all students are required to complete under R.S. 17:270, and such operations must be designed to provide students with practical skills, knowledge, and experience in personal finance management consistent with the topics already mandated in the financial literacy curriculum.

The legislation directly affects local public school boards and high school students in Louisiana. School boards gain new flexibility to partner with credit unions without being constrained by existing limitations on school building use, allowing them to establish on-campus banking facilities that serve educational purposes. High school students benefit from the opportunity to gain hands-on experience with banking services and financial management in a real-world setting integrated into their required coursework. Credit unions gain access to a new venue for reaching young people and establishing long-term relationships with potential members. The cooperative endeavor structure allows both school boards and credit unions to collaborate without requiring traditional vendor relationships or charging students fees for access to banking services.

This legislation operates within the existing framework of Louisiana education law, particularly R.S. 17:270, which already mandates that all high school students complete a one-unit financial literacy course covering thirteen specific topics including bank account management, credit scores, debt management, loan applications, insurance, tax computation, investments, and financing options for postsecondary education. By tying the credit union branch operation to this existing requirement, the bill leverages established educational mandates rather than creating entirely new obligations. The amendment to R.S. 17:81(B) builds on the existing authority of school boards to permit school buildings to be used for academic purposes, positioning the credit union branch as an extension of the mandated financial literacy curriculum rather than as a commercial or extracurricular activity.