Information for Parents
St. Cronan's Savings Club
The Savings Club has been a feature of St. Cronan's for many years. It is open to boys and their parents. We feel that it is a great way to demonstrate to the boys the value of budgeting and saving and maybe to help them to realise that things like school books, uniforms, football boots etc. don't simply materialise out of thin air !
During previous school years, the total amount saved has been up to €80,000. The amounts saved range from as little as €5 up to €2000 so clearly it is open to all purses or wallets !
All interest earned on the money saved directly benefits St. Cronan's. In the past the Saving Club has paid for sports equipment, remedial aids, etc. So, as you can see, all the boys (savers and non-savers) stand to gain by the continued existence of the Savings Club.
This club is organised by a group of parents who meet in the school each Monday morning. They collect the money from the boys at their classroom each Monday morning (or Tuesday after a Bank Holiday) between 8:40a.m. and 9:00a.m., and this is then lodged in the Credit Union. The savings are returned to the savers (by means of a cheque made payable to an adult for security reasons) in June of each year (just in time for book lists, holidays etc.).
The boys who join the Savings Club are given their own book to keep a record of their savings. They need to present this each time they save and when the savings are returned in June. They use the same book from 1st Class to 6th Class - replacement books cost €2. There is no maximum limit for savings but we do ask boys to bring savings in multiples of 50c. We ask you PLEASE no bags of mixed 1c, 2c and 5c coins as these take forever to count and lodge. This checking can also lead to loss of class time and as the teachers are very supportive, we try to keep disruption to a minimum and also our collectors are all volunteers and their time is a very valuable commodity.
We hope that many of you will choose to use this club to help with your budgeting during your son's time here in St. Cronan's. Also, volunteers are always needed to help with the collections each Monday. If you are interested and available between 8:40 a.m. and 9:20 a.m. each Monday, we would love to hear from you in September.
The Savings Club Team