Empowering Financial Literacy at Cooperative Bank of Cagayan.

On August 10, 2024, the Cooperative Bank of Cagayan took a significant step towards enhancing the financial acumen of its employees with a comprehensive Financial Literacy Seminar. This seminar was conducted in partnership with the Bangko Sentral ng Pilipinas (BSP) led by Ms. Eva-Lynne M. Marcos, Area Director of BSP Tuguegarao, and Ms. Maria Elena A. Madriaga, Bank Officer IV, the esteemed resource speaker of said seminar.

This pivotal event was held at 3rd Floor Training Hall, Coopbank Building, San Gabriel, Diversion Road, Tuguegarao City, Cagayan, focused on essential topics including saving and budgeting, debt management, and the latest advancements in financial tools and programs.

The seminar was meticulously tailored to address the unique needs of our loans department, providing them with invaluable insights to better serve our client/members and manage their personal finances effectively. The discussions were both enlightening and practical, centering on fundamental principles of financial management that are crucial for both personal and professional success.

A key highlight of the seminar was the deep dive into saving and budgeting strategies. Participants learned effective techniques for managing and reducing debt, a crucial skill both for their personal lives and for providing sound advice to clients struggling with similar challenges. The insights gained will undoubtedly enhance their ability to offer practical solutions and support. These skills are not only vital for personal financial health but also play a critical role in advising clients on how to achieve their financial goals.

Debt management was another critical topic covered. The seminar provided a thorough understanding of managing debt responsibly, offering tools and techniques to help individuals maintain a healthy credit profile while effectively managing existing obligations. This session equipped Coopbank employees with the knowledge to assist clients in navigating their debt challenges more effectively.

A notable segment of the seminar was the discussion on the “Know Your Money” initiative and the 1,000-Peso polymer banknote. Ms. Madriaga’s detailed overview of the new polymer banknote’s security features and benefits was both informative and essential, equipping our team with the knowledge to better educate our clients about currency safety and fraud prevention.

Moreover, the seminar shed light on the Paleng-QR Ph Plus Program. This initiative aims to foster a more inclusive financial ecosystem by promoting digital transactions in local markets. Understanding and embracing this program will support the ongoing digital transformation in financial services, aligning with broader national goals. This program will also enable our employees to support the ongoing digital transition and assist clients in navigating new financial technologies.

The feedback from our employees has been overwhelmingly positive. They found the seminar not only informative but also inspiring, providing them with practical tools and enhanced knowledge that will undoubtedly improve their professional performance and personal financial practices.

The Cooperative Bank of Cagayan remains committed to investing in our employees’ growth and development. This seminar is just one example of our dedication fostering a well-informed and financially literate workforce. We believe that by equipping employees with these essential skills and knowledge, we are better positioned to deliver exceptional service and support to our valued clients.

As we move forward, we will continue to seek out opportunities for professional development and financial education, ensuring that our employees are always at the forefront of industry best practices. We extend our gratitude to the Bangko Sentral ng Pilipinas, Tuguegarao Branch for their invaluable support and expert guidance to our employees of the Bank.

Together, we are building a stronger and more informed Cooperative Bank of Cagayan.