Bringing financial literacy to Souther Russia communities

Bank Center-invest Bank
Client Financial Literacy Center
Location Rostov on Don, Russia

Center-invest Bank’s social and educational projects aim to increase the importance attached to quality education in Russia today and also to increase knowledge about the economy among broad sectors of the population.

The long-term experience gained by Center-invest Bank team in spreading financial literacy was summarized in the Financial Literacy Center project. This socio-educational project consolidated the initiatives of businesses and the academic community. The largest universities in the region partnered with the bank in that project. The project’s main goal is to provide access to free advice and financial knowledge to the residents of Southern Russia.

Financial Literacy students graduating.

The first Financial Literacy Centre in Rostov on Don was opened in 2014. The achievements of the Financial Literacy Centers are impressive: over the five years, specialists of the Center have trained 2,500 volunteers from 15 universities. Volunteers and specialists of the Center provided 100,000+ free financial consultations. Most talented FLC graduates had the internship opportunity at Center-invest Bank. More than 300 best interns joined the Bank’s professional team, becoming young professionals.

The Financial Literacy Center consultations cover all population groups of Southern Russia. It enables members of the general public to learn about the modern financial world and to acquire the skills to make informed financial decisions, with an understanding of the potential risks and gains. All of the advice and consultations provided by the Centres are free of charge.

Center-invest Bank professionals teach students for volunteer work in the Centre on key financial areas, on regular bases, such as: private wealth management, business planning basics, proper loans, online banking, tax features and the basics of safe use of bank cards. To train students, the Centre uses a virtual model of Center-invest Bank, with real examples of the documents and IT solutions used in banking. This makes it easier for the students to assimilate new information and to understand its practical application.

For entrepreneurs, the Centre provides training in using Bank’s business online banking system. Entrepreneurs can also obtain advice on taxation, finance and bookkeeping from specialists with an in-depth knowledge of these issues.

Regularly the Centre runs classes for pensioners. Members of the older generation can learn how to: pay their bills from the comfort of their home, choose a reliable bank, use their bank card to obtain their pension without having to queue, and make safe electronic payments. They can also ask any questions they might have about financial issues.