Unicaja Banco and Funcas (CECA Foundation of Savings Banks) have renewed, for the fourth year, the existing collaboration between both institutions to contribute to improving the level of knowledge of citizens in the fields of economy and finance, especially in the current context of digitalization. To this end, they have signed an agreement that will promote the development of several activities, which will have, among other objectives, that less digitized groups, such as the senior citizens, acquire skills for managing their finances.
The incorporation to the ‘Programa Funcas de Estímulo de la Educación Financiera’ (‘Funcas Educa Programme’) for the period 2022-2023 has been ratified by the Chairman of Unicaja Banco, Manuel Azuaga, and the General Manager of Funcas, Carlos Ocaña, thus giving continuity to the collaboration that both institutions have maintained since 2018 in order to promote the development of activities aimed at increasing the financial literacy of citizens.
The Chairman of Unicaja Banco stressed ‘the importance of promoting financial literacy and, above all, of raising awareness among citizens of the convenience of acquiring an adequate level of skills to face the challenges and financial needs that will arise in the different stages of life’. In this regard, he stressed that, at present, financial education must pay special attention to the digital transformation and the difficulties of certain vulnerable groups, such as the senior citizens. Therefore, Unicaja Banco’s collaboration with Funcas Educa will allow the development of initiatives focused on this demographic, among others.
The General Manager of Funcas pointed out that ‘improving the competence of citizens to make sound financial decisions and manage their money in the most practical and secure way, particularly through the new digital media, is the objective of the Funcas Educa program’.
The 2022 call is the fourth of this collaboration programme with the entities that are member of CECA, aimed at financing projects which help to improve the level and quality of financial literacy in Spain.
The entities are developing financial education actions which reinforce their social work and adapt to the needs of citizens, conditioned in the last two years by the COVID-19 pandemic.
The growing use of remote financial services, the need to boost financial inclusion by facilitating access to these channels for the most vulnerable groups or the increase in investment in crypto-assets are some of the trends that have changed habits and the relationship with finances and which require improving financial knowledge.
Financial education for senior citizens
More specifically, within the framework of this agreement, Unicaja Banco, through the Edufinet Project on financial education, promoted together with Fundación Unicaja, will carry out different actions, such as conferences, courses, seminars, contests, plays and publications.
These actions include the launch of a financial education program for senior citizens (‘Edufinet Ambassadors’), with the aim of helping this demographic acquire both basic financial competencies and digital skills.
Other actions to be highlighted are the organization of the 5th Financial Education Congress; the production of a financial education play; the support to the Financial Olympics; the organization of a competition related to the 2030 Agenda within the framework of the financial education days for primary school students, ‘Edufinet Kids’, or several publications, such as the new edition of the Financial Guide for Business Owners and Entrepreneurs or the Proceedings Book of the 5th Financial Education Congress.
Funcas and CECA agreed to launch from 2018 the ‘Programa Funcas de Estímulo de la Educación Financiera’ with the aim of contributing to fund financial education activities developed by CECA’s member institutions, either directly or through its related foundations, consolidating existing projects and promoting new ones.
The Edufinet Project, promoted by Unicaja Banco together with Fundación Unicaja, has been promoting financial education actions for 17 years, currently collaborating with 17 universities and more than twelve business entities and organizations, in addition to a work team made up of nearly 80 members, who participate in this task as volunteers. This programme is part of the institution’s Corporate Social Responsibility (CSR) and its commitment to financial inclusion.