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Savings scheme is a credit to students

PUBLISHED: 10:21 21 December 2007 | UPDATED: 19:20 05 July 2010

STUDENTS at Denes High School have officially launched a new project designed to help their peers save their pennies.

Fadoo is a credit saving union set up by cash-conscious teenagers at the school in Yarmouth Road, Lowestoft, to help others control their finance.

STUDENTS at Denes High School have officially launched a new project designed to help their peers save their pennies.

Fadoo is a credit saving union set up by cash-conscious teenagers at the school in Yarmouth Road, Lowestoft, to help others control their finance.

Each student is being encouraged to set up a savings account in return for entry into a competition to win an Ipod, money off driving lessons and other regular rewards.

Bobbie Chitty, who is one of the students running the union, said the group who decided to set up the union through their business studies class had been working on the idea since Easter.

“It's for students to save as much as they like or as little with an easy access savings account in school hours. It gives them an opportunity to come and save with us instead of outside school with lots of benefits.”

Each student who wants to join Fadoo must register with their name, address and age. If they are under 14 a parent must sign the form.

“We're really pleased that everything has worked and been put together in such a short time,” said Bobbie.

The five-strong team has been helped by the Rainbow Credit Union and youth development officer Lee Darby.

Fadoo is open at the school every Wednesday lunchtime during term time and a similar scheme is about to roll out at Sir John Leman High School, in Beccles, in January.


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