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CofE (A) Primary School

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Lifesavers Bank

LifeSavers is a financial education programme for primary schools, giving children the knowledge, skills and attitudes to manage money well. We’ve partnered with LifeSavers and 2Shires Community Bank, giving all our pupils and their families the opportunity to open a savings account.
Pupils are encouraged to save, and are taught about the importance of managing their money well. LifeSavers is pupil-led, with our children having the opportunity to learn about the world of banking!

Our LifeSavers programme is a holistic approach to financial education which aims to encourage children to start developing a savings habit early in life. This is through:

•          Classroom learning

•          Exploring values around money – Justice, Wisdom, Thankfulness and Generosity

•          A whole community approach to managing money; working closely with our Foodbank and Advice services

•          Practical experience of dealing with money through our pop-up Credit Union Bank.

 

LifeSavers St Anne’s School Bank

Our bank will be run within the school, opening weekly on Wednesday and staffed by both adult and pupil volunteers.

Children can open accounts with the Savings Club, which will be held and run by the local credit union, 2Shires Community Bank. Pupils can deposit their money at the weekly savings club, just like they can with a bank, building society or credit union account. Children are encouraged to save for a purpose and to set savings goals, and the hands-on learning from the savings club will be linked to classroom teaching. Children / adults will be able to withdraw their money from the Credit union itself (not at school) Parents and guardians will be encouraged to engage with the project and support their child’s saving activity.

 

Our local Credit union is:

2Shires Community Bank,

Queen's Building Annex,

Potter Street,

Worksop, S80 2AE

 

Isn’t this old fashioned in an increasingly cashless world?

The fact that the world is increasingly cashless makes it all the more important that children get to experience handling real money, so they are more aware of the cost of buying things. We are also in the process of developing an online platform where there will be lots of interactive learning for children.

 

Has this not been done before? What’s new about this project?

School banks are not a new idea, but what is different about LifeSavers is its holistic, community-based approach. It combines values-based financial education with practical experience of handling money, and involves parents and the wider community.

 

More information about the Credit Union, please look at:

 

http://www.creditunion.co.uk/

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