For Home Credit, financial literacy is as easy as Juan, Two, Three
Unfortunately, in the Philippines where 77 percent of adults still do not have formal bank accounts, this reality still seems to be in the far future. Mobile banking is still not as popular here even though Filipinos are one of the most active smartphone users in the world. Even understanding money basics like how to compute interest is something most people need help with. But there’s hope. There are companies in the finance sector that are leading the way by being both financial provider and financial educator. One example is Home Credit Philippines (HCPH) which, aside from already being the local market leader in the consumer finance industry, is also a strong advocate of financial literacy through its Juan, Two, Three campaign. The program, which was started in 2016, teaches communities financial basics in a creative way through games, comic books, and workbooks. Fun with fundamentals “We are all about giving financial access to Filipinos who need it most,” says Annica Witschard, Chief Executive Officer of HCPH. “But we don’t just provide tools; we teach people how to use them. And that means teaching the very basics of handling money. That’s how Juan, Two, Three started—it’s all about empowering people through the fundamentals, and in a very fun way.” After three years of visiting communities throughout the country, Home Credit’s Financial Literacy Ambassadors already have a lot to celebrate. So far, the program has already reached close to 11,000 households, conducted more than a hundred events, and has closed long-term partnerships with both civic and non-civic organizations. Some of these are the Department of Social Welfare and Development’s (DSWD) Pantawid Pamilyang Pilipino Program, which signed a three-year memorandum of agreement with HCPH, and the Rotary Club of San Fernando North. It has even been awarded a Silver Award from the Stevies, an international award that recognizes excellent communications programs across different regions and industries. Never too young or too old But perhaps its biggest achievement is discovering the exact financial knowledge that people need help with. For example, who would have thought that many parents in different communities still need help understanding concepts like interest? Reaching everyone from students to teachers, senior citizens to small children, laborers and fishermen, to its very own employees, Home Credit has definitely widened the program’s reach. It has even visited the Armed Forces of the Philippines recently to teach financial literacy to men and women in uniform.