The use of cookies

By navigating through this site, you consent to us collecting information using cookies. At any time, you can set your browser to notify you when a cookie is sent or to refuse cookies altogether, but certain features of this site might not work without cookies.

To find out more about cookies see our policy on Privacy and Cookies

Mutual Respect

From your local mortgage and savings experts

Request A Call Back

Community Noticeboard

23
May

Building societies 'uniquely placed' to help young people manage money says national study

Newbury Building Society has been included in a nationwide study aimed to help stem the nation's personal debt crisis at grassroots level with better financial education for young people, according to a new study by the charity, MyBnk.

The 26-page report, commissioned by the Building Societies Association (BSA), was conducted by MyBnk, a leading trainer, designer and deliverer of financial and enterprise education programmes for young people. Their nationwide study found 59% of societies provide financial education for young people, and the building society community has the potential to play an even greater role in the financial education of young people across the UK.

Tens of thousands of 5-25 year olds are benefiting from dozens of innovative building society projects across the country, including Newbury Building Society’s Junior Newbury Building Society (JNBS) scheme, which was launched in 2008. Starting with just four schools, local to the Society’s flagship branch in Newbury, JNBS has grown in size over the last seven years and there are now 23 school branches taking part.

The scheme enables local schools to operate a ‘school branch’ of the Newbury Building Society where children ‘operate’ their school branch and save money in their accounts. The scheme is part of the Society’s ongoing commitment to being embedded in their local communities and supporting financial education.

Paul Holt, Business Development Manager at Newbury Building Society, said: “It is a pleasure working with these children; they have remained enthusiastic about the project throughout the last few years and have clearly gained a lot from it. Appreciation must also be shown to the teachers in our scheme schools, who help the cashiers run the branches so smoothly.”

UK personal debt is at a record £1.45 trillion; 17-24 year olds owe on average £12,215 each (over half of which is not student debt) and despite curriculum requirements, less than half of young people receive any form of money lessons at school. The complete report and Executive Summary can be found here: http://bit.ly/1VgHMIy

 

Fundraising

Competitions

Whats' going on

Hints & tips

© Newbury Building Society

Tech Help  |  Accessibility  |  Contact Us  |  Connect  |  Site Terms  |  Site Map  |  Privacy

Newbury Building Society is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Financial Services Register number 206077). Registered office: Newbury Building Society, 17 Bartholomew Street, Newbury, Berkshire, RG14 5LY.

English law applies and we will communicate with you in English. We are participants of the Financial Ombudsman Service. We have a complaints procedure which we will provide on request. Most complaints that we cannot resolve can be referred to the Financial Ombudsman Service.

You can check the Financial Services register on the FCA's website.

Close

Request a Call Back

Swoosh

Speak to one of our expert advisers on
01635 555777  or request a call back:

Name:
Phone:
Email:
Reason for Call Back: Savings   Mortgages   Insurance   Other
Local Branch:
Preferred Day to Call:
Preferred Time of Day:
On Saturdays we are only able to call in the morning due to branch opening times.

We will only use these details for the reasons requested.
 
Are you human? Please enter the text below into the box
captcha image
Click here to get a new image
Call Back
Close

Request a Call Back

Swoosh

Speak to one of our expert advisers on
01635 555777  or request a call back:

Name:
Phone:
Email:
Reason for Call Back: Existing Mortgage   New Mortgage  
Local Branch:
Preferred Day to Call:
Preferred Time of Day:
On Saturdays we are only able to call in the morning due to branch opening times.

We will only use these details for the reasons requested.
 
Are you human? Please enter the text below into the box
captcha image
Click here to get a new image
Call Back