Credit Unions of Wales School Savers Clubs are a practical and fun way to help children learn financial responsibility.
Credit Unions of Wales School Savers
Our School Savers Clubs are a practical and fun way to help children learn financial responsibility. Credit Unions of Wales School Savers Clubs not only encourage children to get into the habit of saving but help them develop their numeracy skills and understanding of personal finance.
Run in both primary and secondary schools, the savings schemes can be set up with a coordinator from your local credit union. Once the club is up and running, it is usually organised by the pupils themselves as junior cashiers under the supervision of a teacher, member of school staff or parent. It’s a great way to give children responsibility and help them learn organisational skills as well as boosting numeracy and financial awareness.
Setting up a club
There’s no charge to the school for setting up a savings club. All resources, training and on-going support is provided by the credit union.
Pupils can save as little as they want because every penny soon adds up. Maybe they are saving for a school trip, spending money for a summer holiday or a new game? As adults, we know that waiting and saving up for the item makes it even better when you get it!
Along with helping children to learn the concept of saving, the clubs have other benefits including:
- Numeracy skills;
- Book-keeping and basic accounting;
- Record keeping;
- Organisational skills.
Not only is this a great opportunity for schools to have a positive impact on creating a good financial ethos for the future generation, but is also welcomed by school inspectors.
If you are interested in setting up a School Savers Club at your school email firstname.lastname@example.org.
The success of the savings scheme has gone way beyond our expectations with a very good initial uptake and then the savings scheme really took off with a quarter of our school population saving every week.
Our school savers committee has become very independent in managing the accounts; it has had a real impact on their financial management and numeracy skills.
The savings club is run weekly with the help of our Year 4 children who develop numeracy, team working and communication skills.