What is a Schools Savings Club? :
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A banking facility for savings and withdrawing money
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Open to students, their families and school staff
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Run by volunteers, and students if appropriate
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Enables young people to learn the saving habit and plan ahead for spending
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An opportunity to develop numeracy, literacy and financial skills.
How do they operate? :
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Volunteers are recruited and trained by BCU staff and supported to run the Savings Club
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Open on a regular day and time during term so that each week money can be paid in and withdrawn
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Based in an appropriate place such as the school library or reception
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Each member has their own account and account card which they bring in each time they wish to pay in or withdraw money
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Junior members (under 18) join free
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Adult members pay a £3 joining fee
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A dividend is paid to members on an annual basis
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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
