Enhancing financial literacy for future and present generations
For years, our colleagues have been investing time and other resources to educate people on various financial issues. In our corporate community investment approach, we specifically focus on future generations and women in developing countries to achieve financial independence. This article provides a 2012 overview of activities in this field that our colleagues shared their expertise and skills for!
The table below provides an illustration of how our employees worldwide have contributed to the activities that were organized by ING in 2012 in the field of financial education and entrepreneurship as part of our corporate community investment approach. We would like to thank each and every one who has contributed their time and resources into these activities, to have a positive impact on the financial knowledge of (young) people in the areas where they work and live – and where most needed.
| Business unit | Initiative | Aim | Reach in 2012 |
|---|---|---|---|
| ING Group | Women in Business Challenge, A joint initiative of ING, Business in Development (BiD) Network and ICCO since 2009 | To provide female entrepreneurs from developing countries with practical training and support in setting up and managing a business | 54 ING volunteers from 7 countries coached and guided a women entrepreneur to refine their business plans for a final assessment, of whom two were the coach of finalists |
| ING Bank Netherlands | Money Week, Organised by the Wijzer in Geldzaken (‘wiser in money matters’) platform since 2010 | To teach children about how money works | ING volunteers gave over 500 guest lectures |
| ING Direct Italy | Coltiva il tuo sogno, An educational project initiated by ING since 2009 | To teach elementary school students the value of saving | 1097 classrooms were reached through the campaign |
| ING Direct France | Family Day, A financial education initiative of ING Direct France | To give children the experience of the online bank’s world through workplace’s playful visit. | 115 children have visited the ING Direct France offices during the Family Day |
| ING Direct France | Opération « Mon Quotidien », A special news edition on money matters aimed at children | To increase children’s financial knowledge | 76000 subscribers of Mon Quotidien were reached |
| ING Direct Spain | Professionals at your School | Promoting entrepreneurial knowledge to young people | ING volunteers gave guest lectures to 15 primary and high schools |
| ING Hungary | Financial Education program, Initiated by ING in 2012 | Teach young people about finance | 10% of employees gave guest lectures to a total of 170 school children |
| ING Direct Australia | The Social School for Entrepreneurs, Supported by ING Direct and the ING Foundation in 2012-13 | To provide learning programs to enhance the effectiveness of Australia's social entrepreneurs and their social ventures,that will ultimately create long-term and meaningful social impact and help to improve the lives of particularly young people. | 200 SSE Fellows at the end of 2012. |
| ING Commerical Banking UK | Risks and Rewards website, A collaboration between ING, The Baring Archive and educational website experts E2BN. The website was launched in July 2012 | To improve children’s understanding of the world of finance. It draws on the archives of Barings Bank. | ING’s London employees gave their time to add a section explaining what it is like to work in today’s financial sector. The website reached 3499 visitors in 2012, with 103,664 page views |
| ING CIC Americas | Museum of American Finance, With a grant from ING, the museum provides free guided tours to Title 1 school groups | To provide students from Title 1 schools in the New York area with financial education, discussing topics such as “Tracking the Credit Crisis” and “Checks and Balances: Presidents & American Finance”. | A total of 21 Title 1 schools participated in the programme; a total of 747 students were introduced to the Museum’s educational programming. ING CIC Americas employees from the Finance department volunteered 46 volunteering hours mentoring students in financial literacy. |
| ING Turkey | Orange Volunteers, Küçüklere Büyük Destek Project | Opening up children’s horizons on matters related to thrift and saving. | 30 Orange Volunteers (160 hours in total) made presentations on savings to nearly 1,000 primary school children in 18 schools in 8 provinces. |
ING Commercial Banking UK's ‘Risks and Rewards’ website picked up silver awards in the categories ‘Best corporate sponsorship to help align an organisation with brand values’ and ‘Best community involvement in a sponsorship activity’.
Financial education as a corporate approach
ING’s mission statement is to set the standard in helping our customers manage their financial future. We are therefore committed to enhancing consumer financial capability and making financial products and services more accessible and inclusive to a wider section of society. For this, ING offers insight, tools and programmes, both through offline and online channels to help our customers improve their financial decision-making and become better at managing money.
By investing in financial education and awareness building campaigns we try to help individuals understand the advantages and risks associated with financial products and services. This would enable them to take decisions better adapted to their personal circumstances.