Southwark Smart Savers launches for fourth year

16 October 2017

Southwark Smart Savers is entering its fourth year and has so far helped more than 1000 children across the borough start saving.

The scheme was launched in 2015 and over the course of the following three years vouchers worth £15,340 have been redeemed. Across the borough, our smart savers have managed to increase their savings almost five-fold by banking more than £60,000 of their own cash.

This year, over 3,400 vouchers will be given out to eligible children across the borough as part of the continued drive to give young people the tools they need to manage their money well into adulthood.

The council will again be offering a prize of £2,000 for the school that has the most children sign up to the Smart Savers programme. This cash can be used to provide more library books or IT equipment. Cathedral School of St. Saviour and St Mary Overie scooped the 2016-17 sum after 20 per cent of the vouchers issued to its pupils were redeemed.

Cllr Richard Livingstone, Cabinet Member for Adult Care and Financial Inclusion  said: “It is incredible to see that children across the borough have saved a combined total of over £70,000.

“When it comes to managing your finances, it is important to get into good habits at an early age. That is why I am so pleased to see Southwark Smart Savers return for another year.

“Previous years have seen school children save significant sums and I hope to see that continue this year. I hope every parent or guardian of an 11-year-old will encourage them to sign up and start saving whatever they can.”

The council has written to the parents of all eligible children about how to claim their free £20 voucher. Once you receive this letter, go along to any branch of London Mutual Credit Union with you voucher letter, proof of address and child’s birth certificate or passport.

More information about Southwark Smart Savers is available on our website.

Page last updated: 16 October 2017

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