Monday, 11 May 2015

ILCU LAUNCH ANNUAL CREDIT UNION GR8 SAVERS WEEK IN CREDIT UNIONS ACROSS THE COUNTRY



Each year, credit unions from all around the country take part in GR8 Savers Week. This is a week-long initiative aimed at encouraging a savings habit among younger children, while educating young people on how to have a smart relationship with money. In 2015, GR8 Savers week will run from Monday 11th – 17th May 2015. There will be special activities taking place in many credit unions and members are urged to visit their credit union to join in the fun.

The recent economic instability and austerity in this country has impacted many families around the island and how we manage our money has been brought into sharp focus.  There continues to be a daily struggle for many families in terms of their personal finances. Given how important financial skills are in navigating life, it is vital that we educate younger members of society about the merits of investing in their own futures, by sound financial planning and responsible money management.

It is true to say that most of us have learnt a very hard lesson about the value of money and the importance of saving for a rainy day, no matter how small the amount. Our young people are no different and it is incumbent on us all to ensure that our children recognize not only the value of money but also the importance of understanding how saving works. Credit unions in communities around the country want to help local parents to give their children a solid financial education from a young age and we would invite any member of the community to call into their local credit union office to join in the fun and activity.