Students save over $2-million in Schools thrift programme

Students in a range of educational institutions in St Vincent and the Grenadines (SVG) have made savings in excess of EC$2-million.

And the Co-operative Division within the Ministry of National Mobilisation and Social Development is partnering with a number of financial entities to recognise these young savers as they host the National Schools Co-operative Awards.

The General Employees Co-operative Credit Union (GECCU); Teachers’ Co-operative Credit Union (TCCU); Kingstown Co-operative Credit Union (KCCU); Police Co-operative Credit Union (PCCU); and the National Lotteries Authority (NLA) have teamed up to host the annual ceremony on Wednesday, November 16 at the Russell’s Auditorium starting at 9:00 a.m, a release from the Ministry states.

At this year’s ceremony, a total of 240 students will be specially recognized for their outstanding saving patterns over the period January – June 2022.

This year marks the 43rd year of the Schools Co-operative Thrift Programme.

As at October 31, 2022 there were about 13,028 students from 81 schools ranging from early childhood, primary and secondary educational institutions in St. Vincent and the Grenadines (SVG) who are active members of the Schools’ Thrift programme.

The total savings are estimated at EC$2.7 million.

The key objectives of this programme are:

(a) To encourage thrift and economy among students.

(b) To teach students the values of good money management.

(c) To orient students to the habit and benefits of savings from an early age.