To sensitise young people and adults to the issues associated with good day-to-day budget management, our staff around the world have developed Financial Education actions. From Russia to Brazil, we take a look at some of these excellent initiatives and invite you to take a behind-the-scenes look at a training programme in France, in video.
The very essence of our job as bankers lies in our commitment to our clients. This commitment consists of accompanying clients over time and protecting them, particularly by preventing difficult situations
Didier Hauguel, Co-Head of International Banking and Financial Services
Close to our customers and aware of specific local requirements, our entities around the world have put in place financial education tools or training sessions. These initiatives are undertaken on the ground by staff volunteers who give us positive and enthusiastic feedback of their experiences.
“Financial Education” is a cross-business project involving 70 members of staff from every level of the Group, who work alongside the “Cresus” charity. It has enabled almost 1,500 young apprentices aged between 16 and 25 to be made aware of the issues associated with good day-to-day management of their budget: means of payment, loans, savings.
In Allada, the “Bouge” NGO, supported by the Societe Generale Foundation, trains young orphans with no schooling on topics relating to agricultural entrepreneurship. Our members of staff get personally involved by providing training. One example is a four-hour session given by Alfred Kpemavo, back-office manager at Societe Generale Benin, on the topic of financing an entrepreneurship project: how to put together a financial dossier and apply for a loan, conditions, negotiations, market players.
Eurobank has been committed to its customers' financial education through the “Home budget with Eurobank" project. This program enables the bank's experts to share their knowledge with Polish consumers on how to use banking services reasonably and consciously. Two widely available internet platforms are dedicated: www.eurobank.pl/doradzamy made for those entering the world of banking and www.money.pl/eurobank with more detailed data from the world of finance, created in co-operation with the one of the biggest Polish financial portal money.pl. Both are including friendly, simply written expert articles, financial glossaries and also entertainment – quizzes and surveys.
In addition, Eurobank cooperates with Polish Bank Association in promoting educational actions such as “Cancelled Documents” aiming at prevention of frauds with the use of lost IDs.
Banco Cacique developed the Financial education guide for its clients aiming to help them with managing their financial life. It deals with subjects such as: “What to do when you spend more that you earn?” or “Why to invest?”
Information about Financial Education is also available on the website to educate the customer to use money in a conscious way. Some of the topics available: How to avoid impulsive purchases? What to do with the income tax money? Ways to start a new business.
Since 2009, Societe Generale has been the primary sponsor of Cents Ability that offers financial literacy workshops to teens throughout the New York City area. The Bank provided it with office space and equipment for the associations' staff, volunteered time and expertise from our employees, and funding for an Executive Director to manage daily operations.
The school is just 2 blocks from Societe Generale New York headquarters and allows employees to actively volunteer during their lunch break or before work hours. We have had about a dozen employees participate in teaching at this site alone. In addition to the local high school, employees have also taught at sites convenient to their home. For example, Societe Generale employee Tracy Robinson has volunteered at New City Kids in Jersey City, NJ for several years.
Rusfinance Bank makes part of the regional Financial Education initiative originated two years ago in co-operation with the Ministry of Finance and the Bank of Russia in Samara, where some of its operations are located.
Once a year, a representative of Rusfinance Bank is invited to deliver a lecture on a financial topic, at a Samara based school to senior grade students. The speakers, specialists in different banking and financial areas, explain to the attendees the main terms and definitions using the bank’ marketing materials as an example.