For more than three years now, BDO Foundation, the corporate social responsibility arm of BDO Unibank, has been implementing financial education programs, making significant strides in efforts to contribute to the development of a financially literate citizenry.
Driven by a shared vision to promote financial inclusion, BDO Foundation has partnered with the Bangko Sentral ng Pilipinas (BSP), Department of Education (DepEd), Overseas Workers Welfare Administration (OWWA), Armed Forces of the Philippines (AFP), Civil Service Commission (CSC), Philippine National Police (PNP), Bureau of Fire Protection (BFP), Bureau of Fisheries and Aquatic Resources (BFAR), and Agricultural Credit and Policy Council (ACPC) for the development of financial education programs.
Through these partnerships, lessons on saving, budgeting and financial planning, debt management, entrepreneurship, investments, insurance, digital literacy, scam prevention and retirement planning have been shared and taught to public school students, teachers and non-teaching personnel; overseas Filipino workers (OFWs) and their families; uniformed and civilian personnel of the armed forces; government workers; police personnel; firefighters; fisherfolk; and farmers.
Ensuring effective deployment across the country
The Department of Education thru DepEd Order 22 series of 2021 ensured financial education will be taught in all public schools using the learning resources developed by the foundation.
BDO Foundation, DepEd and Huawei Philippines partnered for a nationwide competition designed to develop innovative learning modules that integrate financial literacy into the teaching of Science and Math – “The Search for the Best Supplemental Learning Materials in the Teaching of Defined Key Concepts in Science and Mathematics”.
PiTaKa – Pinansyal na Talino at Kaalaman, an initiative for OFWs, helps migrant workers manage remittances, increase savings and achieve financial stability.
Instructional manuals were developed and training sessions for master trainers were scheduled to teach the target beneficiaries. These initiatives were able to reach 2.6 million learners, 13,575 OFWs, 90 CSC trainers, 3,199 uniformed and civilian AFP personnel, 98 BFP trainers and 1,950 BFP personnel, and 51 BFAR trainers.
In addition, BDO Foundation has worked with National University to provide financial literacy training in support of SM Foundation’s Kabalikat sa Kabuhayan program, to help fruits and vegetables farmers become self-sufficient, and has reached about 3,000 farmers.
Thru partnerships with East-West Seed, Literacy Coordinating Council, Smart Communications, KLIK Mobile Education, SEAF Southeast Asia Management, La Salle Green Hills and Purple Community Fund, BDOF-produced financial education videos have been shown in events attended by farmers, employees, students and out-of-school youth.
Enhancing the economic well-being of Filipinos
According to BDO Foundation president Mario A. Deriquito, “In our own small way, we would like to contribute to efforts to improve financial literacy levels in the country and make a difference in the quality of lives of the underserved and disadvantaged. We look forward to a future where the number of unbanked Filipinos is significantly reduced, more of our countrymen are financially independent and more people have access to financial products and services.”
Moving forward, the BDO Foundation will continue to support BSP’s National Strategy for Financial Inclusion as it implements financial education programs in partnership with government institutions, other foundations and non-governmental organizations. BDO Foundation will champion financial inclusion and empower people so that they will have more opportunities to achieve a financially healthy future. The corporate social responsibility arm of BDO Unibank will find ways to enhance the economic well-being of Filipinos.