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• Open on a regular day and time during term so that each week money can be paid in and withdrawn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 an annual £3 membership fee, to cover administration
• 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

At the present time we are not accepting any more schools into the scheme. However, if you would like to discuss the possibility of having a School Savings Club at your school in the future, please contact Roy Bedford for the Bedford and North Central Bedfordshire areas, on 01234-346352 or roybedford@bedfordcreditunion.org.uk