Stirling Credit Union currently has a part-time Schools Development Officer to develop Junior Savings Clubs in schools. However, the funding for the role was due to come to an end in February 2018.
Members of the council’s Finance and Economy Committee have agreed to allocate funding to help extend the post until the end of the school year, after learning of the successful work undertaken by the officer. Five primary schools have already been supported to work with parent volunteers to set up their own credit union branch and encourage children to save.
The extra funding from Stirling Council will help develop specific saving advice for secondary school pupils, such as the re-branding of the Junior Savers scheme to become more attractive to teenagers. Credit Unions have reported that, although the Junior Savers Clubs in primary schools see children making regular savings, the numbers fall when the child moves to secondary school.
The funding will also help promote all four credit unions in the Stirling area, including Cowie Community Credit Union, Mercat Cross and the Bruce Credit Union, and Raploch and Cornton Community Credit Union.
Convener of the Finance and Economy Committee, Councillor Margaret Brisley, said, “Encouraging children at a young age to understand the value of money can make a huge difference to their future development of financial skills.
“By helping finance the extension of this post we hope to continue the good work already undertaken by the Schools Development Officer, while also extending that reach to include children who move to secondary school.”