Young people in Ceredigion are being asked to depict the importance of saving money, in a new visual campaign being launched by West Wales Credit Union.

School children in local secondary schools are being tasked with designing a poster demonstrating the importance of sound financial management, in the hope that the early introduction of ‘savvy saving’ will stand them in good stead for the future.

The scheme, launched in partnership with the Local Authority Youth Services department, is part of a new pilot financial literacy programme the West Wales Credit Union will be offering in conjunction with MyBnk, a national organisation that delivers financial and enterprise education in schools and youth organisations.

Vanessa Owens, Operations Manager of West Wales Credit Union said: “Financial literacy is a great skill to develop when you’re younger as it instils the importance of creating and managing your own budget in order to avoid financial difficulties. We are looking forward to announcing further details of the pilot scheme with MyBnk in the near future but in the meantime we would like to encourage as many students in the local authority to enter the poster competition and be in with the chance of winning a great prize.”

The poster competition is open for two year groups. Years 7-10 are being asked to consider the topic of savings. Their posters will reflect the need to save, what it will allow them to do in the future and what difference savings make. Years 11-13 are being asked to consider the theme of managing money well and the benefits this can bring. One winner will be selected from each group.

The winners will each receive a £50 Amazon voucher. The two posters will be displayed across the local authority, in schools and also in West Wales Credit Union. Children wishing to participate in the competition should contact their school art department who will have received all the relevant information. The deadline for entries is 12pm March 17.

Bill Hudson, Manager of the All Wales Credit Union Support Programme added: “We fully support the pilot programme and poster competition in Ceredigion. Financial education is really important as managing money and being in control of your finances can help to avoid unnecessary stress later in life. Developing a sound understanding at a young age will help school children in Ceredigion in the future.”

For more information email Vanessa Owens