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Global Entrepreneurship Week Day 4 – DfE Visits our Youth-Led Microfinance bank

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The fourth day of Global Entrepreneurship Week started in our youth-led microfinance scheme at Walthamstow School for Girls.

MyBnk-in-a-Box  allows students to run their own saving and lending scheme.  The opening today was the fifth one of the school year so far and hundreds of students arrived to deposit their money, on average depositing between £1-£2 but some much more! There was energy all around as 400 young savers from across the school deposited their money and the MyBnkers swiftly aided them, £180 was banked in just one lunchtime leading to a total of £1,000 banked for the year so far and much more yet to come!

“I wanted to become a MyBnker because I never used to save, I spent all my money on wants and not needs, saving can help in the future. I’ve learnt new skills since starting this such as teamwork and confidence. I enjoy it, I like serving the customers and I think this is really important for people to do this so they can use these skills in the future.” Memoona, 14, Walthamstow School for Girls MyBnker

To make it even more exciting for the girls, they had some very special guests, MyBnk CEO Guy Rigden, Stephen Kingdom from the Department for Education and Joe Billington the Director of the National Careers Service! The MyBnkers efficiently showed them around the bank and explained the importance of managing your own business at such a young age and doing it for real.

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“Understanding how to manage money is an important lifeskill, this is a practical way to experience it first hand and it’s a great way to bring it to life.” Stephen Kingdom, DfE

“I think this is fantastic, it’s a great setup and great for learning working skills. It encourages financial management and gives skills to everyone, it’s superb and very efficient.” Joe Billington, Director of the National Careers Service

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“MyBnk is a great idea and will definitely help me in the future. I love it, it’s great and saving money is the best choice and something I can help other people do now. I know how much it matters and it’s important for the future, it really makes you think.” Remsha, 13, Walthamstow School for Girls MyBnker

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