What is a Schools Savings Club? :

• A banking facility for savings and withdrawing money
• Open to students, their families and school staff
• Run by volunteers, and students if appropriate
• Enables young people to learn the saving habit and plan ahead for spending
• An opportunity to develop numeracy, literacy and financial skills.

How do they operate? :

• Volunteers are recruited and trained by BCU staff and supported to run the Savings Club
• Open on a regular day and time during term so that each week money can be paid in and withdrawn
• Based in an appropriate place such as the school library or reception
• Each member has their own account and account card which they bring in each time they wish to pay in or withdraw money
• Junior members (under 18) join free
• Adult members pay a £3 joining fee
• A dividend is paid to members on an annual basis
• Certificates for involvement are given to members after they have been saving for a period of time.

How do Savings Clubs benefit schools? :

• broaden learning opportunities of all involved linking to each Key Stage in terms of financial matters, numeracy and literacy
• Contibute to the "Every Child Matters" criteria
• Raise the profile of the school in the community.

Contacts

If you would like to discuss having a School Savings Club at your school please contact Roy Bedford, our Schools Development Officer for the Bedford and North Central Bedfordshire areas, on 01234-346352 or roybedford@bedfordcreditunion.org.uk