MyBnk is a micro-bank set up in a school, foyer or community setting run by young people with the following functions:
MyBnk is aimed primarily at young people aged 11 to 18, but they are now looking into the possibility of workingin junior primary schools for young people aged 8 to 11. MyBnk has obtained approval from the Financial Services Authority to operate as a young person’s bank.
The first pilot project was established in 2007 in Tower Hamlets. Today MyBnk runs 9 different programmes with titles including MyBnk-in-a-Box, UniDosh, Business Battle, and MoneyWorks and has reached over 46,000 children.
Lily Lapenna who runs it has received these awards: Young Social Entrepreneur of the Year, Global Young Leader and Ashoka Fellow.