25 November 2021
Principality launches £100,000 fund for schools and community groups
Principality Building Society has announced a funding pot of £100,000 for schools and community groups in Wales to deliver financial education qualifications.
The funding, which is the largest single investment from the Society in a financial education programme to date, will allow for more secondary school students and community groups across Wales to gain qualifications in financial education from The London Institute of Banking and Finance (LIBF).
The qualifications equip young people with the skills to appreciate and manage their finances effectively, covering topics such as sources and uses of money, personal budgeting, making money management decisions and careers in the financial services industry.
A selection of the qualifications offered are also GCSE and A Level equivalent and can support students with their progression to higher and further education. Schools or community groups who wish to take part in the qualification will need to apply for the funding directly with LIBF.
Since 2020, Wales’ largest building society has supported 2,000 young people in Wales with financial education qualifications from the LIBF.
Vicky Wales, Chief Customer Officer at Principality Building Society said:
‘’We’re delighted to be launching the funding for secondary schools and community groups so more young people are able to gain qualifications in financial education and financial capability from The London Institute of Banking and Finance. It’s so important that young people feel confident in managing their finances and the qualifications are a brilliant way to engage students in the subject of financial education, setting them up with lifelong skills.’’
Debi Howell, Financial Capability Relationship Manager at The London Institute of Banking and Finance said:
‘’Our relationship with Principality is now in its fourth year and goes from strength to strength. We have jointly supported thousands of young people to gain not only qualifications to move on to their next stage of learning but also relevant and beneficial financial skills to help them manage their money into adulthood and make sound financial choices.”
Coedcae School, in Llanelli (pictured) is one of the schools who are benefiting from LIBF qualifications. In 2021, 56 students gained a GCSE equivalent qualification in Financial Capability and Careers Development from Principality funding and the school will also be supported from the new funding launched.
Robert Coslett, Assistant Head Teacher at Coedcae School said:
‘‘We’re delighted to be receiving the funding from Principality to be able to support more of our year 11 students with financial education qualifications. We want to ensure our students are best prepared for the future and the LIBF qualifications do just that, giving them the knowledge and skills to be able to make sound financial decisions when they leave school, as well as helping them to progress onto further study. Our students who have previously completed the qualifications have told us how beneficial they have found the learnings and we’re so proud of their achievements.’’
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