The year 2011 was one of consolidation for BBVA Group’s Global Financial Literacy Plan “El dinero en nuestras vidas” (Money in our lives). The plan aims to support people's financial literacy and improve their current and future financial situation. Financial literacy has been a strategic priority in corporate responsibility for the BBVA Group since 2009.
The Global Financial Literacy Plan consists of specific programs in each geographical area in which the Group operates.
- "Adelante con tu futuro" (Forward with your future) program targeted at people who already use banking services, or could easily be persuaded to do so, as an accompaniment to the banking penetration process in Latin America.
- "Valores de futuro" (Future Values) is designed for elementary school children and those in the first cycle of ESO (the two years following elementary school) in Spain and Portugal,
- and support for financial literacy initiatives by entities in the United States, with schemes such as “Money Smart” for adults and young people, “Teach Children to Save” and “Get Smart About Credit,” aimed at children.
Overall we have invested €23 million to the benefit of around 1.3 million people under the Global Financial Literacy Plan 2009/2011 and the pilot program in Mexico in 2008. This investment falls short of the 26 million target established when the Plan was launched due to differences in the implementation of the specific programs in each geographical area
We have also boosted our commitment to financial literacy through the agreement signed with the OECD in 2010. Under this agreement, and as part of the PISA 2012 Report, a study is conducted on financial literacy among young people and conclusions drawn about their relationship with the current economic crisis, the significance of this crisis for future generations and the importance of having comparable information to set policies and action plans.