Investment in Social Work by the CECA sector exceeded 800 million in 2017, the highest figure in the last 5 years
The General Assembly of CECA has approved the allocation of three million euros to the FUNCAS program for Promoting Financial Education.
Isidro Fainé: “CECA leads financial education initiatives in Spain through the FUNCAS Educa project.”
CECA held its 111th General Assembly today, chaired by Isidro Fainé. The event was attended by the highest representatives of banks, savings banks, and foundations affiliated with CECA. The 10 groups of credit institutions represented by CECA account for 39 percent of the Spanish financial system in terms of deposits. Furthermore, CECA also groups 14 banking foundations and 15 general foundations.
CECA remains closely linked to international associations. Currently, the President of CECA, Isidro Fainé, holds the presidency of the European Savings Banks and Retail Banking Group (ESBG). The association has once again actively participated in the development of joint positions related to current political and regulatory matters. It also participates in various committees and working groups where trends and challenges in retail banking and the international regulatory agenda are discussed.
90 years of history
The 111th Ordinary Assembly celebrated the 90th anniversary of the association. This institution was founded in 1928, closely linked to the international movement for the association of savings institutions.
During his speech at the Assembly, Fainé emphasized: “Not all institutions can claim nine decades of experience. There have been many changes since the birth of CECA in 1928, from an economic, social, and political standpoint. However, this association has remained true to its original purpose. Throughout our long journey, we have always been open to change and renewal. We must continue along this line, with even greater determination, as the challenge of technological change will be formidable.”
3,000,000 euros allocated to Financial Education
The CECA Assembly held today approved the FUNCAS program for Promoting Financial Education (“FUNCAS Educa”).
This program from CECA and FUNCAS is endowed with three million euros and seeks, through agreements with the credit institutions affiliated with CECA, to improve the financial culture of our country, with the ultimate aim of promoting the economic well-being of society and fostering financial stability.
“This is the largest investment in financial education ever made by an institution in Spain,” Fainé stated in his address.
Social Work, leaders in private social investment
Prior to the Assembly, the Commission on Foundations and Social Work took place, a meeting that brings together the foundations linked to the entities affiliated with the association and advises the Board on Social Work matters.
The investment in Social Work in 2017 has grown for the third consecutive year, exceeding 800 million euros for the first time since 2012. This figure represents a 9% increase in investment compared to 2016.
This allocation positions the sector as a leader in private social investment in Spain, an irreplaceable lever for change in society and one of the main sources of support for development and equality of opportunities among the most vulnerable groups. As President Isidro Fainé concludes: “This special sensitivity to social problems and our involvement in solving them is what makes the entities gathered here today different.”
