YOUNGSTERS at Milking Bank Primary School have turned into savvy savers after they opened their own bank.

The initiative, which has been set up in partnership with HSBC, is run by a school liaison officer with the help of six Year 5 children, who have been appointed as bank staff.

The youngsters interested in taking on roles had to submit job applications in May and were interviewed before being chosen to perform the roles of bank manager, assistant bank manager, cashiers, records clerk and marketing manager.

The chosen staff also received training from the school liaison officer and have even been given their own uniform compromising a HSBC baseball cap and name badge.

The bank was officially opened last week, with more than 100 Key Stage Two children opening savings account with their first £1.

The School Bank will now open every Wednesday morning to allow children to pay money into their accounts.

The partnership, which was initiated by school maths co-ordinator Tom Garner, was set up to get the children to start being financially aware from a young age.

The scheme also teaches the children the importance of saving for the future as well as showing them how banking systems operate.