The Illegal Money Lending Team has recognised the ‘fantastic work’ that Just Credit Union has undertaken its partnership with a local primary school over the last 12 months.
JCU worked closely with Holmer Lake Primary School to encourage saving, increase financial knowledge, and raise awareness of both credit unions and the danger of loan sharks in the local community.
The partnership has now received national recognition by the Illegal Money Lending Team by awarding both Holmer Lake Primary School and JCU the ‘National Champions’ of the Stop Loan Sharks award. The school have also been awarded a cheque for £3,000 which had been confiscated by IMLT from prosecuted loan sharks.
Cath Williams of the IMLT presented a special award to the school and JCU during a surprise assembly at the school. Telford’s Mayor, Stephen Reynolds and Councillor, Jackie Loveridge attended the assembly to recognise JCU’s achievement.
Business Development Manager of Just Credit Union, Steve Barras said: “We have a long-standing relationship with the Illegal Money Lending Team, working in schools and communities to raise awareness. Holmer Lake Primary have been a pleasure to work with and it was fantastic to see the reaction of the school when they hard they had won a national award.”
The school introduced a Just Credit Union Savings bank run by the pupils, ran an entire fortnight utilising the Illegal Money Lending Team’s education resources with all lessons focusing on money management, and also helped raise awareness of credit unions in the community.
“As well as learning important lessons about money the pupils have helped raise awareness of credit unions and the danger of less ethical borrowing. Banners designed by the pupils are on display at; the school, the community centre and in the Council’s main building in the town centre,” said Karen Farrow, JCU’s Chief Officer.
“We view working in partnership with schools and other community groups as a vital element of what we do as a credit union and we are delighted to have received national recognition,” Karen added.
Tony Quigley, Head of the England IMLT congratulated the school and credit union on their success. He said: “Holmer Lake School and Just Credit Union have shown real commitment to highlighting the issue of illegal money lending to their community. It is very important that young people learn about managing their finances – the better educated they are in this area the less they are likely to become victims of loan sharks later in life.