MyBnk is an educational charity, working with young people to build their knowledge, skills and confidence in managing their money effectively and making enterprising choices. Mount Carmel presently participates in MyBnk-in-a-box, which is one of the many programmes run by MyBnk.
Students' financial awareness is increased when they join MyBnk, as they are encouraged to save regularly, gain incentives from saving and reaching targets and get the chance to apply some of the maths they learn in the classroom to their daily encounter and use of money. The MyBnkers who operate the Bnk are given the opportunity to put into practice their mathematical skills while performing their duties and at the same time, developing their social skills in serving customers.
To view updates on mybnk events please click on the link below. http://mybnk.org/latest/
Mount Carmel's MyBnk provides an accessible place to save regularly and interest free loans to set up enterprises. It’s the first ever FSA approved independent online and in-school banking scheme. Run throughout the year, the bank embeds finance and enterprise learning, with structured incentivised Savings and Loans Challenges.
This year Ms Haynes (Vice Principal) and Mr Gray (MyBnk mentor and Maths teacher) took four Year 8 MyBnkers and three Year 9 pupils from the top profit making group in the recently held Enterprise Challenge, to MyBnker Annual General Meeting held at Hub Westminster, New Zealand House, Haymarket, London.
During the programme for the afternoon, Mount Carmel MyBnkers were presented with an award for outstanding achievements, as we were able to save more money last year than the rest of the MY Bnk schools across London.
All of the Mount Carmel MyBnkers and Enterprisers were presented with individual medals for their achievements.
Students put together a fantastic animated presentation on behalf of the Mount Carmel MyBnkers which was well received and admired by the rest of the MyBnk community at the event.
The presentation outlined the fact that students of Mount Carmel saved over £1000 during the academic year 2011-2012 and since September 2012 they have so far saved over £670. The presentation also included the successes over the year, including the successful Open Day in October 2012, when the Mayor of Islington, the CEO for one of J P Morgan Operations branch and the Chair of Islington’s Chamber of Commerce came in and officially opened the Bank and the successes for the different enterprise groups in the Year 9 Enterprise Challenge.
The AGM was used as an opportunity to share the challenges faced by the MyBnkers in their daily operations and also to put forward possible solutions to combat these challenges.
All in attendance made a contribution to the event and at one point, teams were formed for a challenge, with all the teachers in one group. Each group came up with their own strategy as how to get the assigned task done before the other groups.