At the time of this writing, there are currently about five thousand credit unions in the United States. Of those five thousand, the overwhelming majority are fully staffed and populated by industry-specific employees, geographically connected populations, and a number of other special interest communities. But in 1987, three Wharton MBA students changed that narrative.
Today, the University of Pennsylvania’s SFCU is the one of the only student-run credit unions in America—with a mission to serve Penn students and alumni alike. After learning about the incredible opportunity to gain first-hand finance experience, oversee nearly $7,000,000 in assets, and process major financial transactions for the Penn community, I sought out the SFCU’s Summer Manager position as soon as I could.
Starting on day one, I realized how unique of an opportunity it truly was. With the entire board of upperclassmen doing their own internships away from Philly, me and the two other managers were responsible for essentially all aspects of running a major financial institution. While I came on as an Operations specialist, I soon found myself responsible for internal accounting, leading marketing initiatives, taking calls from members to resolve disputes, rolling out a new credit card product, and more!
The main skill I gained from this experience was learning how to manage responsibility, as our work as summer managers was often the only thing standing in between our members and booking last-minute flights or paying their rent. I also became more resourceful, as every customer service task I encountered was fundamentally unique in some way, and often required me to think outside the box under time pressure to communicate a solution. Additionally, all of the bookkeeping I did with debits and credits as an accountant has led seamlessly into my ACCT 1010 class—and enhanced my learning as a result.
On top of the work, the day-to-day experience of living in Philadelphia on my own for the summer was unforgettable. I found myself exploring new local restaurants, going to my first Phillies game, and learning how to cook as I settled into my first apartment. Were it not for the Philadelphia Summer Internship Award, none of this experience would have been possible. For me, the cost of working for a nonprofit while learning how to live alone would have kept me back home in Houston; just like all my freshman peers doing their summer internships either locally or remotely.
But thanks to the Wharton Philadelphia Internship Program, I got to spend my summer just like the founders of the SFCU: being an exception to the rule.