BBVA - Press Room

 

• The Group has rolled out a three-year Global Financial Education Plan, called ‘El dinero en nuestras vidas' (‘Money in our lives), with specific programs for each of the geographical areas where the bank has operations
• The aim of the plan is to help people learn about finance and make financial services more accessible to them
• The plan is expected to directly benefit more than 440,000 people in its first year
• In Spain, the ‘Valores de futuro. El dinero en nuestras vidas’ (‘Tomorrow’s stars. Money in our Lives’) plan will be developed, aimed at teaching children about the money-related skills and values, such as responsibility, prudence, saving, hard work and solidarity
• More than 1,600 schools and 200,000 elementary and high school students are expected to participate in the first phase
• BBVA’s Global Financial Education Plan is one of the largest private initiatives of its kind in the world
• “Financial education has a high social value for companies and people alike, as the more people and families learn about finance, the better the decisions they can make” said Francisco González

“At BBVA, we are convinced that financial institutions must assume clear and important commitments to financial education, as it is part of our duty and has great social value for the community and its players”, said BBVA’s Chairman and CEO, Francisco González, today at the presentation of the BBVA Global Financial Education Plan. With a €26 million budget, the three-year plan will promote financial education among children and youths in Spain and the US by teaching values related to good money management. In Mexico and South America, the plan strengthens BBVA's commitment to increasing banking penetration there. In its first year, the BBVA Global Financial Education Plan is expected to benefit more than 440,000 people.

BBVA Chairman and CEO, Francisco González, explained that BBVA follows a different strategy and has a view that reinforces its commitments and behavior in order to better serve its stakeholders.

He pointed out that financial inclusion –providing access to financial services to the greatest number of people possible in the world- and education are two of the main areas of action of the BBVA Group's Corporate Responsibility policy.

Mr. González recalled the creation of the BBVA Microfinance Foundation in 2007, with an endowment of €200 million, which he defined as “a clear social commitment to the financial inclusion of the most underprivileged.”

On the learning front, he highlighted the ‘Niños adelante’ ("Children first”) children’s scholarship program aimed at the social integration of the most disadvantaged children in Latin America through education.

“With this background behind us and because we are convinced that financial institutions should assume clear and important commitments to financial education, as it is part of our duty and as it has great social value for the community and its players, we are launching this program,” announced the BBVA Chairman and CEO.

Global Financial Education Plan

“At BBVA, we believe financial education is a fundamental tool for taking informed and wise decisions, as it helps improve people’s financial situation, enhances risk management for financial institutions, and encourages saving while strengthening the financial system” he added.

The BBVA Global Financial Education Plan has a budget of €26 million for three years (2009-2011), and is expected to directly benefit over 440,000 people.

Divided up by area into Spain, Mexico, South America and the US, the plan targets different groups based on their geographic location. In Mexico and South America, it is aimed at people with bank accounts and potential accountholders. “You can’t mainstream people into the banking industry without teaching them” stated BBVA’s Head of Corporate Responsibility, Antoni Ballabriga, at the presentation of the plan.

The plan is geared towards children and youths in the US, and elementary and high school schoolchildren in Spain, following official recommendations to begin teaching finance at an early age.

The Global Financial Education Plan is one of the world’s largest private financial education initiatives and the first nationwide program of its type in Spain.

The Plan in Spain: tomorrow’s stars

In Spain, the Plan is called ‘Valores de futuro’ (tomorrow's stars) and the aim is to teach children money-related skills and values such as prudence, responsibility, saving, hard work and solidarity.

The program targets children between the ages of 6 and 14 and is carried out at schools during classroom hours. It entails a set of activities monitored by teachers wishing to participate using the teaching materials provided by the program. In the first phase, all elementary schools and junior high students in all Spanish regional capital cities have been invited to participate. In this phase, more than 1,600 learning centers and 200,000 students are expected to take part.

The cornerstones of the ‘Valores de futuro’ program are people, their values and skills. The program has been developed using innovative teaching techniques to encourage both students and their teachers to take part, promoting reflection and self-teaching. All course content has been developed by expert teachers and trainers and previously tested.

The program was devised to last throughout the school year, with content divided up into three stages. It also includes workshops in which students can discuss and receive training on topics such as prices, commercial activity and savings management.

The program was presented to, and well received by, the Ministry of Education, the Bank of Spain and the CNMV (Spanish national securities commission), in addition to parent and teachers’ associations. It is currently being presented to the education departments of the various regional governments.

It has a multidisciplinary scientific committee comprising renowned scholars and an advisory council made up of teachers and open to participation by the parent’s associations, schools and teaching staff.