Sid drops in to start school’s Grow a Pound project
Sid the Shark was in for a shock when he made a surprise visit to a Shropshire primary school.
For pupils at Wilfred Owen Primary School in Shrewsbury took a dislike to the giant loan shark and chased him out of the building.
The activity was all part of the school’s launch of its ‘Grow a Pound’ initiative featuring Just Credit Union, Shropshire and Telford & Wrekin’s not-for-profit savings and loans co-operative.
Just Credit Union led morning assemblies and talked about the importance of savings and the dangers of borrowing from the wrong people.
Pupils enjoyed an educational animated film about a penguin who borrows money from the wrong people. The film was produced by the England Illegal Money Lending Team (IMLT), also known as Stop Loan Sharks, and was funded through money confiscated from loan sharks.
The IMLT has donated £200 for the initiative, with each child getting £1. When a similar project was run previously, the youngsters turned that amount into £2,600.
Steve Barras, Just Credit Union Development Officer, said: “Financial education is an important part of Just Credit Union’s purpose, and it is fantastic to have the opportunity to encourage children to understand money and develop great habits at a young age.
“We are delighted to assist with the Grow a Pound initiative. This particular initiative was a huge success last time with the pupils coming up with lots of great money- making ideas and raising lots of money for the school.
“We are looking forward to coming back to see how they are getting on and to hand out some trophies at the celebration assembly.”
Hannah Fox, teacher and mathematics lead at Wilfred Owen, said: “We were delighted to have Just Credit Union involved. They have given the school a pot of money so that each child can have a pound.
“The challenge then is to grow that pound over the coming weeks. This will not only help the children understand the value of money, but also to develop some key life skills for their futures.
“When we ran a similar project two years ago the pupils had lots of fantastic ideas and raised lots of money for the school. This year the money raised will be used to fund a Harry Potter event for the whole school which everyone is very excited about.”
Following the assemblies, the children will spend the next few days developing their ideas and drawing up their plans. Year five pupils will then have the opportunity to explain their ideas to Just Credit Union in a Dragons’ Den style pitch.
Steve added: “We would like to say a big thank you to the England Illegal Money Lending Team who use money confiscated from illegal lenders to help promote credit unions and support financial education in school.”
Tony Quigley, head of the IMLT, said: “Helping children learn about finances from a young age lays a good foundation for them to be financially resilient as adults and avoid potential pitfalls like illegal money lenders.
“These youngsters came up with some brilliant ideas to make money before and it’s clear we have some future successful entrepreneurs on our hands.
“Thanks to the school for letting Sid drop in and spread the word about the dangers of illegal lenders.”
This year is the 20th anniversary of the IMLT. Since its launch, it has supported over 31,500 people and written off over £91.2 million worth of illegal debt, securing over 416 prosecutions for illegal money lending, leading to 598 years in jail.
Anyone who has been affected by illegal money lending should call the Stop Loan Sharks 24/7 Helpline on 0300 555 2222 or access support online at www.stoploansharks.co.uk. Live Chat is available on the website from 9am to 5pm, Monday to Friday.
