School bank open for young Rowley Regis savers

181014L HSBC schools liaison officer Mal Cooper with year five pupils.

181014L HSBC schools liaison officer Mal Cooper with year five pupils.

First published in News

MONEY-conscious Rowley Regis pupils are busy saving their pocket money in a new bank opened at the school and run by six year five entrepreneurs.

Highfields Primary School is one of only a few primaries in the region to have a key stage two school bank, which is being supervised by the HSBC.

The young bankers had to apply for the posts and be interviewed and trained to operate the bank which will open once a week following last Thursday’s launch at the Beeches Road school.

“The idea for the bank came from the children who were concerned about the economic recession. They saw the effect on their families and wanted to do more at school about saving,” said learning mentor Elaine Adams.

Youngsters can open accounts with £1 and receive a money box and a bank book. They can keep the accounts, which earn 0.5 per cent interest, when they move to secondary school, using HSBC high street branches until they are 18 - and can also apply for a debit card at the age of 11 so they can use cash points.

Mrs Adams added: “The bank is a really good way of teaching a lot of life skills and developing good habits of saving on a regular basis.”

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