Just Credit Union (JCU) has joined a campaign from the England Illegal Money Lending Team (IMLT) to tackle the problem of illegal money lenders.
The project, which teaches people how to avoid falling victim to loan sharks and to report cases in their local communities, saw the credit union work with Holmer Lake Primary School in Telford to improve pupils’ financial awareness.
JCU already runs a junior savers account in the school and, with the help of IMLT, also supported a fortnight of lessons themed around money and finance.
Rachel Gillett, deputy head teacher at the school, said: “The aim of our whole school finance fortnight is to develop the pupils’ confidence, skills and knowledge so that they are equipped to manage their money, now and in the future.
“With the shift towards an increasingly cashless society and with advertising targeted to influence spending, especially at this time of year, we want our pupils to think carefully about how they use money; understand the benefits of saving and know the risks involved in borrowing money.”
Steve Barras, JCU’s development and marketing officer, said: “We are delighted to be working with the Illegal Money Lending Team and Holmer Lake Primary. Holmer Lake works hard to prepare their children for their life beyond the school and financial skills are an important element of that.”
Tony Quigley, head of service at IMLT, said: “We believe improving financial education and raising awareness of where to find the right information will help give children the resources to manage their money and keep safe in the future. It is hoped pupils will take these important messages about loan sharks home to their families.
“Loan sharks are a scourge on our communities, taking advantage of people in desperate situations and trapping them in a cycle of debt and misery.”
