GRANTS BY P.O.S.B.

Press, Volume CVI, Issue 31087, 16 June 1966, Page 18

GRANTS BY P.O.S.B.

Christchurch Schools Grants totalling £2BBO had been made to schools in the Christchurch district, said the Chief Postmaster in Christchurch (Mr M. E. Wilson) yesterday. “The Post Office Savings Bank receives splendid support from teachers and in recognition of their co-opera-tion the Postmaster-General approves annual grants to participating schools based on the number of deposit transactions made each year. Such grants are used by schools for cultural or recreational purposes,” he said. “In 1965 nearly 240,000 school pupils in 2468 schools made 3,387,000 deposits valued at £1,186,950. These deposits earned grants totalling nearly £29.000 over the whole of New Zealand. "The Post Office school savings bank has played a major role In encouraging thrift in our primary schoolchildren since 1934. Since then more than a million New Zealanders have used school savings bank accounts. “The scheme proved so successful that in 1958 it was extended to secondary schools by establishing post-primary thrift clubs. “The objective of these schemes is to impress on pupils the importance of savings to the nation and to demonstrate with actual banking the benefit that can be gained by the pupils,” said Mr Wilson.

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