A Stoke-on-Trent school has become the first in the country to receive a national award from the England Illegal Money Lending Team for its commitment to protecting families from loan sharks.
Star Academy, in Burnaby Road, Tunstall, is now an official accredited partner of the IMLT. The award recognises the hard work and commitment of the school in helping to raise awareness about the dangers of illegal lending.
It has displayed Stop Loan Sharks campaign materials; shared key messages through ClassDojo, newsletters, and social media; promoted the local credit union Potters’ Bank, and encouraged the use of the Stop Loan Sharks reporting app.
The school also took part in the national Game Over for Loan Sharks campaign, where pupils got the chance to play and edit a new interactive computer game created with funding from the IMLT. The game was launched as part of Stop Loan Sharks Week and one of Star Academy’s pupils won a prize for editing and creating a new version of the game.
The IMLT, also known as Stop Loan Sharks, is a national organisation that investigates and prosecutes loan sharks and supports borrowers.
Dave Benbow, head of the IMLT, said: “We are delighted to welcome Star Academy as an official Stop Loan Sharks partner. Working with schools is a vital part of our mission to educate the next generation about the dangers of loan sharks and give young people the knowledge and confidence they need to become financially resilient adults who can recognise the warning signs of illegal lending.
“The staff at Star Academy have been fantastic in helping us share these important messages, and the pupils have been a real credit to the school. From taking part in competitions to engaging in classroom activities, they have shown great enthusiasm for learning about illegal lenders and the harm they can cause.
“It has been a genuine pleasure working with everyone at Star Academy, and we look forward to continuing our partnership in the months ahead. We would like to thank all those involved for their support and commitment to helping young people build a safer financial future.”
Caroline Lewis, assistant principal at Star Academy, said: “We are absolutely delighted that Star Academy has been awarded Partner Standard Level by Stop Loan Sharks.
“This recognition reflects our commitment to raising awareness, supporting financial wellbeing within our community, and working proactively with partners to protect families from the harm caused by illegal money lending. We are proud of the work our staff and pupils have undertaken and look forward to continuing our partnership with the Stop Loan Sharks team.”
Many illegal money lenders are well known within their communities and are often introduced to borrowers through friends or family members.
They are unregulated and give loans with no paperwork, often adding charges and high interest to loans. They can resort to threats, intimidation and even violence if repayments are not made.
Because these lenders are not registered with the Financial Conduct Authority, borrowers do not have the protection of consumer law such as cancellation periods and the ability to apply for help if they can’t pay. This can cause huge amounts of stress and impact other finances – leaving them unable to pay rent or other priority bills.
Anyone who has been affected by illegal money lending should call the Stop Loan Sharks 24/7 helpline on 0300 555 2222 or send a WhatsApp message to 07700 102773. More information and other ways to get in touch, including a Live Chat service, can be found at www.stoploansharks.co.uk. Live Chat and WhatsApp are available 9am to 8pm, Monday to Friday.
