One of our school banks has been Highly Commended by the Community Education Awards.
A dozen Year 8s at Mount Carmel Catholic College for Girls have been running their own in-school and online saving and lending project for fellow pupils thanks to the charity MyBnk. Hundreds of students have opened accounts and deposit on average more half their weekly pocket money.
The MyBnk-in-a-Box project, which opens every lunchtime and now in its 6th year, is backed up with hands on workshops on banking, borrowing and taxation and enterprise challenges.
Financial education only recently became part of the National Curriculum. The Money Advice Service recently found that MyBnk is delivering the UK’s highest rated money skills for young people.
Community Education Awards Ambassador, Esther Rantzen DBE said:
“I have been astounded by the effort, commitment and the quality of this project as well as the dedication and brilliance of the individuals”.
MyBnk Founder & CEO, Lily Lapenna said:
“We are so proud of these girls! They have volunteered their own time to help fellow pupils learn how to save and borrow responsibly. Across the UK, young people and the Bank of Mum and Dad are crying out for money skills to be taught properly in schools – we want to bring more quality and fun programmes to classrooms and help teachers keep children out of debt”.
Nicole Haynes, Principal, Mount Carmel Catholic College for Girls:
“MyBnk-in-a-Box is an inspirational initiative. Our students have developed the knowledge and skills related to a plethora of financial issues: i.e. global financial instability, the credit crunch, banking, risk and debt. Our girls are already well ahead of the curve in understanding how money works and how it effects them”.
Young saver Amy 13:
“Saving is really important. At the moment I just spend and spend and I never have money for the things I need. I will open my account with £1.50 and I’ll be putting in £2 every week!”
financial education award