Pupils at Llanyrafon Primary School in Cwmbran run their own savings club. The club was set up in October 2012 and is linked to the local credit union.
Since its launch the pupils have saved over £2,500. Every Friday morning from 8.30am to 9.15am a team of young cashiers take cash from their classmates and log it in the savings book. During my visit £120 was paid in but the week before the amount topped £300.
Watch this video of the club in action
Gateway Credit Union who cover Torfaen came to the school to train the pupils and help get it up and running. Gateway provide support and extra savings books when needed.
Staff say it teaches children about money and the importance of saving. A ‘saver of the week’ is announced in the school assembly and the cashiers visit each class to remind them the club is open. Some staff from the school canteen have also just joined up as savers.
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Visit the Credit Union Wales website and you can find your nearest credit union.
Watch this video to find out more about credit unions.
