What started out as a way to get fourth graders interested in money management and spreadsheets turned into a bona fide credit union run by children.

Island Pacific Academy in Kapolei, a private school founded in 2004, partnered with HawaiiUSA Federal Credit Union to set up a campus credit union where elementary students could learn financial skills and save money.

“I always believed that elementary kids can do way more than we ever believe they can,” said Debbie Yoshino, an elementary computer science teacher who helped start the Navigator Credit Union two years ago.

Fourth graders operate the bank every Wednesday for about 30 minutes before school starts, with an employee from HawaiiUSA FCU on hand to make sure everything goes smoothly. Children, parents and visitors can open an account and deposit money during that time. The students in charge then take the deposits to a HawaiiUSA Federal Credit Union branch to be processed.

Navigator Credit Union has racked up 40 accounts and over $20,000 in deposits so far, according to Yoshino. If account holders want to make withdrawals, they have to go to a HawaiiUSA Federal Credit Union location.

Colt Dixon, 11, and Taylor Lansey, 12, now sixth graders, helped start the credit union when they were in fourth grade.

“We were like, ‘Why not? Nothing can go wrong from it,’” Dixon said.

Lansey, who wants to work for a bank in the future, said he didn’t know it would turn out to be something big.

“We started from small, like no one would really come, but everyone is here now,” he said.

Dixon and Lansey, along with a small group of sixth graders, continue to help out on Wednesday mornings, even though they aren’t receiving class credit for it.

Yoshino said one student is so excited he shows up almost an hour before the bank opens.

“That’s the most rewarding thing about teaching,” Yoshino said. “When you see the kids learning, not because I tell them to learn but because they want to learn.”

Cary Miyashiro, HawaiiUSA Federal Credit Union community outreach representative, said the partnership between academy and the credit union is not just about financial literacy, but also social engagement.

“It’s a good chance to interact, especially with adults,” Miyashiro said. “Younger people, they’re kind of afraid to interact with adults. This would give them that opportunity. In this scenario, they’re the experts, they’re the professionals. … So it’s more than just the savings. The savings, you can get that anywhere, but you never get the leadership opportunity.”

The Navigator Credit Union has expanded to include a small cafe where students and parents can do their banking and buy a cup of coffee or hot chocolate in the small seating area.