A TOWN centre bank is returning to its roots by encouraging young savers to join its ranks.
Now the Trustee Savings Bank (TSB) in Barrington Street has cut ties with Lloyds Bank, it is looking to find its own separate identity.
Many years ago, before it linked up with Lloyds, the business – originally the South Shields and Neighbourhood Friendly Bank – was known for offering youngsters savings accounts in which they could deposit their shillings.
Those accounts are now returning in a bid to help modern-day children in the town understand the true value of money.
Bank manager Ivor Coulther says he is keen to bring as many borough schools on board as possible, as he bids to create a “real community bank”.
To that end, he’s got the support of ex-mayor Coun Eileen Leask.
Coun Leask said: “Mr Coulther is really passionate about encouraging youngsters to get involved and help them understand that saving money is a good thing.
“I’m contacting school governors to encourage them to get their schools to sign up.
“The process is that they can save their pennies at school and, when they have enough, they can transfer it into a TSB account.
“The temptation these days is to live on credit.
“Helping our youngsters understand that saving is a good thing is so important.
“It’s also important because it is giving them a good start in life.”