CECA entities allocated 2.23 million euros to improve financial education and digital skills in society in 2022

50% of digital and in-person attendees were under 25 years old, while the senior audience represented over 3.2 million impacts (25%)

Saving and budget management, sustainability, cybersecurity, and investment services rank among the highest investment areas in training

With slightly more than 15 million euros invested in the last 5 years, the CECA sector consolidates itself as the largest investor in financial education in Spain

CECA, its associated entities, and its foundation Funcas invested over 2.23 million euros in 2022 to promote 122 programs aimed at strengthening financial education in Spain. During this period, more than 13 million impacts were recorded, including in-person attendees and digital access[1], in 4,227 activities directed at various age groups and specific communities. These are some of the data presented in the Executive Report on Financial Education 2022, which summarizes the main figures related to the initiatives developed by the CECA sector to enhance financial culture and digital skills in society over the past year.

Financial education in the CECA sector with a focus on inclusion

For CECA entities, financial education is an essential tool for empowering citizens facing a changing reality. In the current environment of uncertainty, the need for financially responsible individuals who can manage their resources effectively and handle new digital technologies appropriately becomes even more apparent.

CECA’s associated entities share their experience, knowledge, and reach throughout the territory through their programs, catering to young people, adults, and seniors. By age, 59% of the investment (1.32 million euros) was directed to projects aimed at those under 25 years old. Specifically, 6.6 million impacts belonged to the child and youth cohort. At the same time, 25% of digital access and in-person attendees were seniors, with over 3.2 million impacts.

The CECA sector’s commitment to the most vulnerable individuals is part of the DNA of all its projects. Evidence of this is that over 1.25 million euros were directed to specific groups, resulting in more than 9.3 million impacts. By group, 36% of the investment was allocated to training programs for entrepreneurs, followed by individuals with special needs (31.67%) and those at risk of social exclusion (31.62%).

The themes with the highest investment included: saving, spending, and budgeting (27.7%); sustainability, digitalization, and cybersecurity (16.2%); investment products and services (15%); insurance (11.2%); banking products and services (10.41%); and entrepreneurship, SMEs, self-employed individuals, and rural areas (8.1%).

The CECA sector, the largest investor in financial education in Spain

In the last five years, the total investment allocated by the CECA sector to improve financial culture has reached 15.37 million euros, of which 10.9 million corresponds to the ‘Funcas Program for Stimulating Financial Education (Funcas Educa)’. This program enables entities affiliated with CECA, either directly or through their linked foundations, to promote ongoing or new projects to address the needs detected in society.

For 2023, it is expected that the Funcas Educa funding will reach 1.8 million euros.

Financial education, a driver of sustainable development

The association is part of the OECD’s International Financial Education Network (OECD/INFE) and the promoters of the Financial Education Plan: Bank of Spain, National Securities Market Commission (CNMV), and Ministry of Economic Affairs and Digital Transformation.

In the framework of this plan, the Financial Education Day is celebrated annually. This year, under the slogan “Inclusive Finance, Finance for All,” it emphasizes the importance of training in financial culture and digital skills to promote equal access to financial services, regardless of age or where we live.

As part of its DNA, and thanks to its reach, CECA sector entities promote activities nationwide throughout the year, which are enhanced during the Financial Education Week: round tables and conferences, training sessions, contests, and transversal projects in which volunteers from the banking sector collaborate in favor of more inclusive finance.

In the current context, it is essential to have alliances to achieve the Sustainable Development Goals and the targets set by the 2030 Agenda.

Download Executive Report on Financial Education 2022

Download Financial Education Brochure 2022

Activities of the entities associated with CECA on the occasion of Financial Education Week

[1] Digital access refers to online metrics that include standard views, downloads of apps and digital content, visits to websites, and streaming.