FINANCIAL EDUCATION AND SAVINGS CLUBS
The Archbishop’s Task Group is working in partnership with pfeg, the Personal Finance Education Group (part of Young Enterprise) to deliver LifeSavers, a national financial education programme for primary schools. At the centre of LifeSavers is a school-based savings clubs, run in partnership with the local credit union, where children will be encouraged to save small, regular amounts of money. This is combined with values-based financial education resources and training for teachers, along with a holistic approach involving parents, carers and the whole community in children’s financial education.
"How we think about and use our money is central to a fulfilled and contented life. That is why I strongly support this exciting initiative to encourage children to develop positive attitudes towards money and the habit of saving. This programme has the potential to make a significant difference to the lives of millions of children and future adults."
Most Revd Justin Welby, Archbishop of Canterbury
LifeSavers is currently being piloted in six schools across three areas of Bradford, Nottinghamshire and South East London, and started in September 2015. So far we’ve supported 75 teaching staff in delivering whole-school, values based financial education to all year groups. The programme has impacted over a thousand students in some way, and on average 1 in 3 pupils offered the savings club has taken up the chance to save. We are working in partnership with four local credit unions who are providing the banking services. Local churches are supporting the delivery of LifeSavers, through providing volunteers to help run the savings clubs and delivering the LifeSavers ‘Acts of Worship’ in schools focusing on four core Christian values: generosity, wisdom, thankfulness and justice.
We are delighted that we have secured funding for a wider rollout to up to 150 primary schools in six areas. We will also be offering support to schools outside the rollout areas through a dedicated website and free financial education consultancy.
Fi Belton is a teacher at St John the Baptist Church of England Primary School in Colwick, Nottingham. She was recently appointed 'LifeSavers Champion' for the school which is one of the 6 primary schools piloting the initiative
"We're launching LifeSavers in St John's with an exciting'Money Week' that the whole school will participate in. As well as a visit from a 'maths magician', there will be a special assembly where we'll be joined by a member of staff from Nottingham Credit Union and find out the results of the school competition to design our savings club logo.
Six children have been picked to run the savings club - they'll be joined by three adult volunteers including our local vicar! The children's enthusiasm for the scheme has been infectious as they've already started to talk to their friends about the savings club. One boy brought his form back to school saying that his mum also wanted to join the credit union, so we can already see the potential impact of LifeSavers on our whole school community.
Teaching staff have completed their training so that they are ready to use the curriculum linked financial education resources in their classes and we have been well supported by the local Young Enterprise coordinator. I'm looking forward to seeing it all up and running - I can see how LifeSavers could have a big impact on the children at St John's."
To find out more about LifeSavers and to receive regular updates on the project, please give us your contact details:
For schools who want to register an interest in being part of the national rollout click here: