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A network of savings clubs in primary schools which could give pupils as young as four years old practical experience of money management is being proposed by the Church of England as part of a drive to raise the level of children's financial awareness.

The Archbishop of Canterbury's Task Group on Responsible Credit and Savings is putting forward plans for a pilot scheme where savings clubs administered by credit unions in primary schools would encourage children to save small, regular amounts of money.

Children would also be given opportunities to take part in the running of the savings clubs, as junior cashiers or bank managers and their practical learning would be reinforced by classroom teaching materials.

Welcoming the plans, the Archbishop of Canterbury, Justin Welby, said: "How we think about and use our money is central to a fulfilled and contented life.

"That is why I strongly support this exciting initiative to encourage children to develop positive attitudes towards money and the habit of saving.

"One in four primary and middle schools are Church of England schools, so this programme has the potential to make a significant difference to the lives of millions of children and future adults."

Sir Hector Sants, chair of the task group, said: "Savings clubs can transform lives through helping establish a responsible approach to money from an early age.

"This programme would also strengthen communities through building links between schools, churches and credit unions, and is part of the Church of England's broader initiative to support the development of a larger, vibrant and more sustainable community finance sector in this country."

The programme would build on a number of successful small-scale initiatives already in place in parts of the country and evidence of what makes for an effective financial education programme.

Six areas are being examined in the London, Yorkshire, East Midlands, North East and South West regions from which the three will be chosen.

The plans for school savings clubs mark the latest stage in the work of the task group which launches its new ToYourCredit website today with personal testimonies, videos, and blogs from initiatives across the country inspired by the Archbishop of Canterbury.

One of those stories featured on the new ToYourCredit website is that of mother-of-two Cheryl Dixon, 31, from North Ormesby, Middlesbrough, who promotes her local Pioneer credit union at the Trinity Centre, part of the Holy Trinity Church, at a weekly drop-in she started for families. She encourages them to join the credit union and avoid loan sharks and door step lenders in the run-up to Christmas. Find out more about Cheryl's story here.