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RBF Poland (Provident Polska) - Academy of Family Finance

Added on 22-03-2013

Company

Provident Polska

Network

RBF Poland

Year

2010

Business challenge

The Academy of Family Finance seeks to change attitudes and financial habits, particularly among women, by teaching them how to balance their household budgets and how to start saving.

The major challenge is to convince the business community and society as a whole that financial institutions can run a credible financial program devoid of any commercial motives.

Description

Our mission is to improve women's awareness on how to better manage their household budget. We expect to train approximately 1000 people a year (clients and representatives) all over Poland. The program will engage local governments and authorities, as well as local social support, in order to promote the best solutions for home and household budget management.

Our decision to implement this program has been driven by various factors:

  • Our belief that only customers who are aware of their rights and obligations can be fully satisfied with their decisions.
  • Our desire to counteract excessive indebtedness in society. Many inaccurate decisions result from an overly optimistic customer assessment of their financial situation.
  • We are a responsible lender. We want people to make responsible decisions regarding their financial situation.
  • We organise free educational nationwide workshops, at which women learn the rules of managing their family finances.
  • We educate the public via the media (in cooperation with illustrated magazines and radio broadcasts).

We distribute brochures concerning responsible lending.

Impact

We intend to develop the program; by:

  • Increasing the number of workshops for women.
  • Expanding the range of education via the women's press.
  • Further development of the educational site.
  • Engaging more external experts in the program (journalists, teachers, lecturers).
  • Financial education via social media, e.g. a series of educational videos to be posted on youtube.pl and similar sites.
  • Financial training of Provident's representatives (sales force).
  • Distributing educational brochures on financial issues to Provident's customers.

Challenges/Lessons learned:

Benefits for stakeholders:

  • We have organised over 30 free of charge workshops¬†around the country, in which over 1000 women have taken part.
  • We have created a dedicated website, (please see link below), offering special tools for managing household budgets. Approximately 300 users a month visit our website.
  • Thanks to our publications in the media more than 3,000,000 readers can take advantage of our financial advice and expertise.

Benefits for the company:

  • More well-educated and satisfied potential customers.
  • Enhancement of the company's reputation as a responsible lender.

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