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Internship: an opportunity for real experience

Bill Haymes - Finance Program - WITC-Rice Lake Bill Haymes
Finance - WITC-Rice Lake

My internship at Chippewa Valley Bank was a great experience and a lot of fun. The people I worked with were very nice and knowledgeable in what they were trained to do. I had a great time besides getting experience for future use in my career.

I started by shadowing the tellers. Some things that bank tellers do are paying loans, depositing and withdrawing money into a savings account and checking accounts, CDs. This was good experience in handling money and being one on one with a customer.

While I was there, I got to do statements at the beginning and middle of the month. Business statements were sent out at the beginning of the month and personal statements at the middle of the month. Every couple of days, I filed current insurance pages because if the bank was the lien holder they had to be sent proof of insurance for people that secured loans from the bank, whether it was a business loan, real estate loan, personal loan, or consumer loan.

Sue Murphy - Finance Programs - WITC-Rice Lake Sue Murphy
Finance - WITC-Rice Lake

My internship at Peoples has been a wonderful learning experience since the first day. Customers come into the bank and interview with loan officers to acquire a loan that fits their needs. This process is very interesting. Listening to people’s needs, gathering their information, and trying to get them the best product they are eligible for is all part of the interview process. I really enjoyed sitting in on interviews with the loan officers. The customers were always welcoming and observing the process was very educational.

I was able to be involved by ordering credit reports and analyzing information to see if customers qualify. Sr. Vice President David R. Haroldson explained the five Cs that are used when considering extending credit to a customer. Capacity, Credit, Collateral, Conditions, and Character. The most critical of the five factors when analyzing credit is capacity. A lender will want to know how a customer intends to repay and the probability of successful repayment. This internship has been a very positive experience, and I feel that every student should take time and complete an internship. I truly believe I have found my path.

Mathew Harrington - Finance Programs - WITC-Rice Lake Mathew Harrington
Finance - WITC-Rice Lake

If there is something specific in your field of study that interests you, I would thoroughly recommend trying to find an internship position in a relevant job. Taking on four months of on-the-job training will accelerate everything you have learned in class and really put it into perspective for you. I was fortunate to intern at Edward Jones where I was able to apply what I've learned in college.  Many people go straight into a program having no experience in the industry they're studying, except what has been taught in a classroom. An internship is great when it comes to potential employers, because it shows you've had some practical training and gives you an edge over people who have just had textbooks to learn from.