Pupils cash in with The Cumberland’s finance lessons
English and history were replaced with budgeting and savings in a special lesson for some Carlisle schoolchildren.
Pupils at St Cuthbert's Catholic School were treated to a financial workshop hosted by education tech provider EVERFI in partnership with The Cumberland.
During an afternoon of activities, the 44 Year 5 and 6 students were encouraged to think about budgeting, savings, and debit and credit cards - while colleagues from The Cumberland got to meet their future customers – and perhaps colleagues.
This is the third year the building society has worked with EVERFI, delivering Vault, a financial literacy course focusing on 'interaction, reflection, and real-life experience', which includes online workshops and offline sessions to introduce children to money management.
In the first two years of the partnership, the workshops have been delivered to over 1500 students across more than 45 schools in The Cumberland’s operating area.
The pupils at the school in Botcherby took part in games and brain-storming exercises, taking home certificates and prizes of the Cumberland's money boxes.
Sue, 11, said it had been a fun afternoon. "I've learned how to save money well and only to spend it on stuff you really, really want or stuff you need for your life.
"I think it's quite useful for the things that are coming ahead in life."
She was among the students who also got to quiz senior figures from The Cumberland on their careers, including chief executive Des Moore.
He said: "It's a great opportunity to work with local kids and help sow the seeds of financial literacy.
"Financial literacy is something that if you work in financial services you take for granted, but actually it's a skill that not everybody has. And I think it's important, if we are to play a role in society, that we help people understand the importance of money and how to manage it, the value of budgeting etc.
"Those skills are really important to start early."
For Jackie Arnold, chair of The Cumberland's board, who also took part in the Q&A and helped pupils with their tasks, the session was something she would have liked when she was at school.
She said: "I have no recollection of having any financial education as a child, which I think is sad. Therefore, it's really important that we can ensure that every child leaving school is equipped with the means to manage their money.
"So many young people leave school without an appreciation of being able to manage money, particularly when funds might be tight. And hopefully we can support them to save those funds towards their principal aims and objectives in life."
Customer adviser Diane Shirvinton enjoyed the session and told the children how she had come to work at The Cumberland.
She added: "The Cumberland is very conscious about working in the community, developing our connections so that as children get older they will know The Cumberland as somewhere they can trust. They'll know they can save with us, have a current account with us and hopefully have their mortgages with us as well."