The voluntary School Savings Scheme in conjunction with Capital (formerly Dundrum) Credit Union has been successfully running in Taney Parish Primary School since 2013. There are currently over 120 enthusiastic young savers from 1st Class upwards. Overseen by volunteer parents and run by 6th Class pupils on a rota basis, it is held each Wednesday morning in the Robert Smyth Hall from 8.30 a.m. until 8.45 a.m. and will resume on Wednesday 18th October. Pupils can start their savings at any point from this date on.
How the Scheme Works
The first step is to open a Credit Union account for your child at a Capital Credit Union branch. 1st Class parents will receive a letter and application form in their child’s schoolbag at the start of the school year, while any other children who wish to join can also get these documents from our downloads section. When completing this form, please ensure that your child’s school and class details (located on the back of the form) are filled in correctly. All completed application forms must be brought directly to a Capital Credit Union branch.
Once signed up, the children’s deposits will be collected and recorded in the school hall every Wednesday morning strictly between the times above.
The collections will be carried out by a rota of children from the two 6th Classes and parent volunteers each week.
Each child’s lodgement will be recorded on a Capital Credit Union master sheet, the official record for all lodgements.
In addition, each child will receive their own School Savings card, in which they will be encouraged to record their weekly lodgements.
Following our Wednesday collections, all monies will be collected from the school by a Capital Credit Union official and lodged into each child’s account.
Lodgement and Withdrawal Details
Each child can lodge as little as €1 or greater and both notes and coins will be accepted. Please note however that only multiples of €1 will be accepted, i.e. no change below €1.
Withdrawals can only be made at any of the Credit Union branches; a parent or guardian must accompany the child wishing to make a withdrawal.
Benefits of the Scheme
The aim of the scheme is to encourage the children to become regular savers.
it is not important how much each child lodges each week; the idea is to teach them the value of saving and ownership of their account.
Each child who opens an account will receive a introductory goodie bag and regular savers will be eligible to enter into the biannual Credit Union Regular Saver draws for a voucher towards a bike (min. value of €150).
The school will also receive a financial contribution from the Credit Union to use towards the purchase of school and sports equipment, the level of which is subject to the number of children participating in the programme.
School Bottle Sales
From November, school bottles shall be sold at Credit Union on the first Wednesday of each month, at a cost of €5 for one, €8 for two and €10 for three. Lids are sold separately for €1 each.
Should you have any queries regarding this scheme, please feel free to email us.