This is a potentially interesting web for schools that want to do some basic film editing and don't have multimedia capable computers. Of course, if you have such computers, this site is probably not worth the effort. That's because to uploading of raw materials will take a very long time. It's easier to connect a video camera to the computer and use the editing software to determine which segments to extract. Unless you're a video genius, you probably have about 15% usable content on any given tape.
JumpCut also allows you to post your video files, but that is not in itself a big deal these days.