Civil servants raise cash for MyBnk's debt project from Sainsbury's shoppers
PUBLISHED: 09:55 30 April 2014
Civil servants have been fundraising with shoppers at Sainsbury's Whitechapel supermarket to help 400 youngsters in London's deprived East End to tackle debt and even start their own enterprises.
Government staff have already raised £2,000 so far for the MyBank education charity in Spitalfields, out of their £5,000 target. They raised £500 at the store on Saturday and are planning to return this coming Saturday.
The money is to fund an ongoing programme by MyBnk, which has its offices in Brick Lane, to teach 11-to-25 year-olds how to manage their money and understand financial products like pensions and government spending.
It also runs school banks and lend interest-free enterprise loans.
Teams from several government departments in Whitehall have already held a 24-hour, 300-mile Spinathon at Business, Skills and Innovation buildings, with Business Secretary Vince Cable and University Minister David Willets both chipping in with donations.
“These guys are putting themselves on the line for us,” said the charity’s chief Lily Lapenna. “We’re right behind them and call on Civil Servants everywhere to back them as they back young people.”
The fundraising means MyBnk can run programmes in schools and youth groups that prevent unsustainable debt and help youngsters start their own businesses.
It also makes sure teachers get their classrooms ahead of the curve before financial education becomes part of the National Curriculum in September.
MyBnk recently won a Centre for Social Justice Award for Preventing Poverty and were named No.1 New Radical Project by a Sunday newspaper.
It is backed by some of Britain’s biggest trusts and foundations including JP Morgan Chase, the FT and the Big Lottery Fund, having reached 75,000 young people in 500 secondary schools, youth groups and trained organisations around the world since 2007.
Fundraising by the civil servants has so far included a sponsored climb of the Three Peaks in Yorkshire, rattling collection tins at London Underground stations and trade ups on eBay.