THE satisfaction of saving up for something has been lost on the 'buy now pay later' generation.

Loans are an instant solution for those who want it now and don't want to wait - but many are left counting the costs of their impatience.

Sadly, though, this eagerness to get it now has spawned a generation that don't appear to see the need to save and while they may continue in their ways until they are crippled by credit card debts, this attitude needs to be tackled for the sake of the younger generation.

Encouraging young people to save is imperative and here in Bradford great strides are already being made to entice them to become savvy savers.

'LifeSavers' is a savings club initiative developed through the Church of England. "They launched with four different areas, Bradford being one of them," explains Ian Brewer, Financial Inclusion Development Officer with Bradford District Credit Union.

Ian explains the process is similar to that of the penny banks which encouraged people to save. Now the idea is being rolled out into schools in a collaborative project between the Church of England 'LifeSavers' scheme and Bradford District Credit Union.

Having spent nine years in the banking industry before taking up his role with Bradford District Credit Union last year, Ian is well aware of the impact loans and credit cards have had on creating the 'buy it now pay pay later' attitude.

"We are discovering we are now reaping the consequences of the whole attitude change," says Ian.

He says initiatives such as 'LifeSavers' aims to tackle the attitude and encourage people to start saving again.

"People join us, they save with us and they can borrow from us. It is a safe environment where we don't put profit before people. We work in a different way," explains Ian.

As part of its work encouraging the younger generation to become savvy savers of the future, Bradford District Credit Union recently celebrated its first 'Young SuperSavers' awards at Lidget Green Primary - the first Bradford school to launch the 'LifeSavers Saving Club' pilot scheme 18 months ago.

"Each week a dedicated team of young bank tellers arrive before schools starts to serve their fellow students who faithfully deposit whatever they can afford towards their savings goals," explains Ian.

They can save as little or as much as they want - one pupil took in two pence discovered down the back of the sofa. the highest amount was £10.

But, according to Ian, the focus isn't solely about saving. Managing their own money helps them with their maths and IT skills too.

Ian explains how the transactions are currently inputted manually but from this month they are introducing a new IT process to do that electronically.

"It increases their IT skills. We have heard so many stories of how their maths has improved just by being able to work the numbers. It has got wider consequences than just saving. They are interacting with being able to save money on a regular basis."

He says often parents will say their children already have a savings account but Ian says this is an account they can manage themselves giving them a greater understanding about saving.

Philippa Tomlinson, deputy headteacher at Lidget Green Primary, which has already been recognised with a Centre of Excellence for its financial education, says partnering with the Credit Union made sense.

"We wanted to put financial learning into practice with a banking partner who shares our values. The Credit Union is a community bank helping Bradford residents to save and borrow safely. This co-operative model is a good alternative for parents, as well as helping our children learn how to be financially aware and to save for the things they want, rather than rely on their parents. We are proud of our top four Young SuperSavers and invite more children at the school to join and get into the saving habit."

Testimony to its success, the scheme has now been rolled out to other primary schools in the city and district including Oxenhope, Trinity and All Saints, Bingley; Riddlesden St Mary's; Westminster Primary; Christ Church; Low Ash and Burley in Wharfedale.

Savings clubs are just one of a number of successful projects with partner community organisations that promote Bradford Credit Union savings accounts. With assistance from the Bradford Metropolitan District Council, the Credit Union employs a dedicated Financial Inclusion Officer who supports savings clubs whilst providing educational workshops to demystify terms seen in lending adverts as well as highlight the dangers of Illegal Money Lenders.

Membership has doubled in the last few years to over 6,000 people from all over the district.

For more information call 01274 434000 or email