NORTH WEST building society Britannia is launching a financial education programme for teenagers to be delivered by its staff to pupils in the region.

The UK's second biggest mutual's Financial Education in Schools programme is now available in Cheshire, Derbyshire and Staffordshire to pupils aged 14 to 16.

It follows research by the Financial Services Authority which revealed that over 40 per cent of 18 to 20 year-olds did not understand interest rates.