As part of Home Credit Group’s global social responsibility program, Home Credit Philippines visited Southville 7 in Calauan, Laguna to hand over donated clothes and toys and to introduce a Financial Literacy Game especially designed to educate and inform the adult members of the community.
Home Credit Philippines held a donation program for the community of Southville 7 in Calauan, Laguna. This 107-hectare relocation site is inhabited by families affected by Typhoon Ondoy and displaced due to the Pasig River rehabilitation. Owned by the National Housing Authority, the property is home to roughly 4,500 families. The life of the community is well organized: its members are involved in the agricultural activities, paper and clothing production, small business, etc. But, still, food, water, shelter, decent job, and clean clothing remain a problem in the community.
The volunteers of Home Credit arrived in the community with five boxes of clothes and toys as well as food baskets to raise the spirits of the community members.
After a brief speech of the community’s leader, Father Boy Salvador, and introductory words from Home Credit representatives Dr. Richard Fababier, Mr. Dmitry Borisenko and Mr. Eduardo Visperas Jr, different activities were held for both children and adults. While the younger members of the community were having fun playing traditional Pinoy games, the grown-ups took part in a financial literacy game. They were separated into two teams which acted as families. During the game, they planned a given budget for the months ahead. Each monthly expense had an either positive or negative effect on the quality of family life. The game promoted a responsible and entrepreneurial financial behavior encouraging them to start their own business.
“Old Chinese proverb says: give a man a fish and you feed him for a day; teach a man to fish and you feed him for a lifetime. We are glad that the Home Credit takes care not only about the material support of the community members, but also guides them on the path of the financial literacy. Hope that more companies will join Home Credit in their goodwill and bring more interesting activities to our Community”, Father Boy Salvador, the leader of the community, said.
“Financial literacy is the cornerstone of Home Credit Group’s business in all countries where it operates in. We engage at all levels with both our customers and the wider public when it comes to laying the groundwork for responsible financial behavior. This is our contribution to the society”, – David Minol, CEO of Home Credit Philippines, said.
According to the latest research of Standard & Poors, covering more than 140 countries over the world, the Philippines was one of the 30 least financially literate countries in the world, with only 25 percent of adults aware of the basics of managing their money.