Newspaper article Evening Chronicle (Newcastle, England)

Young Savers Beat Sharks

Newspaper article Evening Chronicle (Newcastle, England)

Young Savers Beat Sharks

Article excerpt

Byline: Lisa Hutchinson Lisa Hutchinson Reporter Reporter lisa.hutchinson@ncjmedia.co.uk lisa.hutchinson@ncjmedia.co.uk

SAVVY SAVVY Tyneside school kids are being encouraged kids are being encouraged to save for the future as to save for the future as part of a scheme which is part of a scheme which is partly funded with loan partly funded with loan sharks' conscated cash. sharks' conscated cash.

A total of PS3,000 has A total of PS3,000 has been ploughed into the been ploughed into the scheme to provide starter scheme to provide starter packs, with the stationery packs, with the stationery needed to set up Moneyneeded to set up Moneywise Credit Union collecwise Credit Union collection points within schools. tion points within schools. Pupils are encouraged Pupils are encouraged to design a cover for the to design a cover for the savers' books. e win savers' books. e winner's design will be used ner's design will be used and they will receive a PS15 and they will receive a PS15 bonus in their accounts. A bonus in their accounts. A runner-up from each class runner-up from each class will also receive PS10 in will also receive PS10 in their accounts. ose who their accounts. ose who sign up to the Credit Union sign up to the Credit Union on the rst day of the on the rst day of the scheme receive a PS5 bonus, scheme receive a PS5 bonus, and those who continue to and those who continue to save over an eight-week save over an eight-week period within the rst 10 period within the rst 10 weeks, will receive a share weeks, will receive a share of the funding which is left. of the funding which is left.

West Newcastle Academy, omas Walling Primary School and Atkinson Road Primary Academy are already involved with the scheme, which will also be rolled out to Canning Street Primary. e project is organised and jointly funded as part of a partnership approach between the England Illegal Money Lending Team, Newcastle City Council's Financial Inclusion Group and Your Homes Newcastle. …

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