YOUNGSTERS at Trinant Primary have already started planning for their first car and house after launching their own credit union.

It was only set up eight weeks ago, but already 58 of the school’s 150 pupils have set up accounts, saving £675 between them.

Children will get one per cent interest on their savings.

Headmistress Sian James said the idea of launching their own savings initiative came up after pupils learnt about financial planning and managing money in class. Representatives from Islwyn Credit Union visited the school for eight weeks before it was launched, training 12 nine and tenyear- old pupils proper prcoedures.

They learnt about collecting money, drawing up account sheets and cashing up. Ms James said: “The pupils bring in their wallets and account books in on a Friday, which is our credit union day. Some just save £1 pocket money a week, while others put in birthday money and presents they’ve had.”

Marie Walsh from Islwyn Credit Union said she wants to recruit parents to start an adults credit union from the school. She said: “The children are showing the adults the way forward and we want volunteers to work on a credit union one afternoon a week.” If you fancy getting involved, ask at the school or call the credit union on 01495 222832.