OXENHOPE Primary School is piloting a national savings initiative.

The school was among just six across the country chosen to trial the groundbreaking LifeSavers scheme, which gives youngsters hands-on experience handling money.

The venture, staged jointly by the Church of England and Young Enterprise, has been so successful it is now being expanded to a further 120 primary schools nationally.

Oxenhope Primary and Lidget Green Community School in Bradford, which is also part of the pilot, have been developing finance education and starting savings clubs in partnership with Bradford District Credit Union.

The clubs encourage children to save small, regular amounts of money.

Youngsters take on roles such as junior cashiers and bank managers.

Each school is free to implement the savings scheme in different ways and Oxenhope has introduced LifeSavers to its special educational needs pastoral support area, The Nest.

The pilot schools are now regularly teaching financial education based on LifeSavers materials. In total 1,034 pupils are involved.

Clubs are also drawing in volunteers, mostly parents and grandparents of pupils but also members of churches.

Oxenhope Primary headteacher Kathrine Nutting said: "Financial education is a key element in preparing pupils for a fulfilled life and something as a school we are wholeheartedly committed to.

"By taking part the children will be introduced to concepts such as savings, setting goals and identifying needs.

"The emphasis is not on how much is saved but on educating the children about their finances and developing a positive savings habit."

Bishop of Huddersfield, the Right Rev Jonathan Gibbs, chairs the LifeSavers steering group.

He said: "Helping children to handle money wisely and well gives them some really important skills for life in today's world.

"I am delighted churches are getting involved in the delivery of this exciting new programme. It is part of our commitment to the education and wellbeing of the children of our nation."

LifeSavers grew out of the work of an Archbishop of Canterbury task force, working with Young Enterprise.

Project manager Alison Tsang said: "We are delighted at the progress our schools have made and grateful for the support and enthusiasm from credit unions, communities and churches, as well as the fantastic commitment of the dioceses.

"We had some unexpected funding given to the project by the Government last week, along with a commitment of significant funding from a corporate donor, so the great news is that LifeSavers will continue beyond the pilot."