By Michel Outridge
Coop Officer for Thrifty Society Association in Region Five, Thakoor Singh is optimistic about the development of thrift savings in the school system.

He related that in the 1980s he became the Coop Officer in which thrift savings are encouraged in schools where students have two types of savings can be opened such as ordinary savings and special savings which is manned by teachers.

Singh added that it is similar to the old “Penny Bank” system but with this thrift savings, in schools, teachers are held accountable for the money.

He stated that the thrift savings are in more than 30 schools, both primary and secondary in Region Five (Mahaica-Berbice).

Singh explained that in some cases pupils were known to have saved up to $1 million but there are some loopholes. As with any system, nothing is perfect because some teachers have relocated and caused a lapse in the thrift savings.

He disclosed that to form a Coop Society, no less than seven members are allowed and they come together and agree on achieving common goals by pooling their resources.

Singh reported that he is the Coop Officer which manages the entire region from Mahaica to Ithaca.

The Coop Officer noted that the community of Experiment is lacking a few things including that education being placed on the back-burner, so to speak, while others simply cannot afford to send their children to school.

Singh, a resident of Experiment Village stated that they have a lot of school drop-outs within the community and some have found jobs being self-employed rearing cattle on a small scale, a few people are fishermen and most villagers are employed at the Blairmont Estate.

He added that more emphasis needs to be placed on youth development in that region where the young people can be gainfully employed and training programmes are welcomed.

Singh is of the view that the region has a lot of potential but needs a boost in terms of youth empowerment since most young people do not want to go into farming.