MyBnk Expands Financial and Energy Education Offering Across Wales and South West England
Leading UK charity, MyBnk, is expanding its financial and energy education programmes across Wales and the south west of England, thanks to nearly £500,000 in funding from Wales & West Utilities. This expansion will provide critical support to vulnerable young people in areas of deprivation, equipping them with essential financial literacy and energy management skills.
The funding, allocated through the Vulnerability and Carbon Monoxide Allowance (VCMA), will enable MyBnk to deliver over 1,400 hours of expert-led financial and energy education sessions to more than 4,800 young people aged 7-25 over the next two years. The initiative aims to address the pressing need for financial education, highlighted by the Money and Pensions Service (MaPS), which reports that less than half (49%) of young people have received a meaningful financial education, with three in four people in Wales needing greater support with money management skills.
In addition to financial education, MyBnk will integrate Fuel Finance Sessions into its programming. These specialised energy modules will cover key topics such as energy efficiency, safety, meter readings, tariff switching, carbon monoxide awareness, and access to free CO alarms. The goal is to help young people develop the knowledge and skills necessary to navigate a challenging economic landscape while promoting long-term financial resilience.
Liam O’Sullivan, Wales Manager at MyBnk, emphasised the importance of expanding financial education in the region:
“The average household income in our region is among the lowest in the UK, with a greater proportion of income spent on necessities. Additionally, financial literacy rates here are the lowest nationally, particularly among under-18s.
“MyBnk’s programmes are designed to complement existing efforts in schools, colleges, and community settings, ensuring young people gain the financial knowledge they need to thrive.”
Leon Ward, CEO at MyBnk, added:
“This funding from Wales & West Utilities will strengthen our financial education programmes, reinforcing the message that energy, like money, can be earned, saved, and used efficiently. We want young people to understand that financial literacy is not a luxury—it’s a necessity for a stable future.
“Thanks to the VCMA support, we are excited to extend our reach and continue our mission to create a financially fluent population.”
Sophie Shorney, VCMA Manager at Wales & West Utilities, commented:
“We are delighted that this funding will allow MyBnk to support young people across our region. Financial and energy literacy are vital skills that help not just individuals, but also their families—many of whom may be struggling with fuel poverty.
“Through the VCMA fund, we are committed to working with organisations like MyBnk to ensure people receive the right support to manage their bills effectively, stay safe, and keep warm in their homes.”
Wales & West Utilities provides gas emergency and pipeline services to 7.5 million people across Wales and the south west of England. Anyone suspecting a gas leak or the presence of carbon monoxide should call 0800 111 999 immediately for assistance, available 24/7.
MyBnk is dedicated to building a financially resilient population. Working with over 40,000 young people and adults annually across the UK, MyBnk delivers impactful education programmes on topics including fuel finance, debt, student loans, saving, and budgeting.
—
About MyBnk
MyBnk is a UK charity that provides high-impact financial education and enterprise programmes for young people. Their expert-led sessions equip young people with the knowledge and confidence to take charge of their finances and build secure financial futures.
About Wales & West Utilities
Wales & West Utilities is the gas emergency and pipeline service provider for Wales and the south west of England, delivering safe and reliable gas to millions of customers. The company is committed to supporting vulnerable communities through initiatives like the VCMA fund.