Bank Millennium Sa · GPW:MIL
Bank Millennium Sa — ESG Presentation (July 2022)
35 slides from Bank Millennium Sa's sustainability presentation, July 2022
Slide 1: Financial education for parents and children – investment, which pays off
Financial education for parents and children – investment, which pays off
Slide 2: Bank Millennium Foundation: Financial education
Bank Millennium Foundation Financial education „We multiply social capital” of preschoolers - possibility, necessity or waste of time? Bank Millennium Foundation focuses its actions in three areas: • financial education • cultural patronage • promotion of voluntary work 2
Slide 3: Foundation's mission and activity figures
Bank Millennium Foundation Foundation's mission is to support projects, which engage people in activities for local communities 350 lessons about basics of finance for gymnasium students 2 400 workshops organized as part as part of BAKCYL project of our initiative Financial ABC 8 000 people visited
Slide 4: Financial Elementary
Bank Millennium Foundation Financial Elementary Bank Millennium Foundation has been running since 2016 an original financial education project for the youngest, called "Financial ABC". Despite of the pandemic, the foundation managed to continue the project, giving it a new format. We have created a
Slide 5: Financial ABC
Millennium Bank Foundation Financial ABC In 2019 Financial ABC took 1st place in competition „Złoty Bankier” in category „Socially conscious Bank”. For program purposes we have prepared special educational materials - books, which main protagonist presenting the content is Mr. Sebastian; coloring bo
Slide 6: Adventures of Mr. Sebastian
Bank Millennium Foundation's Mission Adventures of Mr. Sebastian Mr. Sebastian is the protagonist of „Financial ABC” and preschooler's guide in the financial world. 6
Slide 7: Financial education for parents
Bank Millennium Foundation's Mission Financial education for parents Webpage devoted to foundation activities • We have prepared 11 guidance texts, which might be On Bank Millennium website accumulates very helpful in raising resourceful child. all materials that are useful for parents. All • We hav
Slide 8: Preschoolers' parents about financial education: GfK study
Preschoolers' parents about financial education GfK study In 2020 Bank Millennium Foundation ordered and examined results of a study concerning preschoolers' parents' opinion about financial education. Parents taking part in the study conducted by research agency GfK, admitted that it is best to sta
Slide 9: Information about the study
Information about the study Methodology: CAWI on-line, Questionnaire survey Sample: N=1000 Polish nation-wide targeted in amount, sample structure for 16 voivodships Parents of children aged 3–7 years Interview length: 15 minutes Execution time: May 2020 9
Slide 10: Profile of parents surveyed
Average age of parents taking part in the study is 36 years. Typical family model is a couple with one or two children aged 3-7 years - 17% of families has both children in this age. Every fourth family has second child under 3 years old, and 44% has older children - above 8 years old. Family status
Slide 11: Children aged 3-7 attending preschool or school
Above three quarters of children aged 3-7 years are preschoolers, 69% attend public institutions. Every fourth child aged 6-7 years attends public school (24%). The willingness to keep children at home, grows with the number of children aged 3-7 years in the family. Type of preschool/school, which c
Slide 12: Knowledge
KNOWLEDGE 12
Slide 13: Children's financial education is a rare phenomenon
Children's financial education is a rare phenomenon There is a wide range of additional classes, offered by schools and other institutions, which children aged 3-7 years can attend. Over 70% of children aged 3-7 years, takes part in foreign language classes and over half of them attends: sport, art,
Slide 14: Untapped potential
Untapped potential Ranking of classes for children from the most important from perspective of upbringing and education to the least important in eyes of parents, indicates that crucial needs such as: learning foreign languages, sport and art classes, are satisfied and realized. However, there is an
Slide 15: Abilities developed thanks to financial education are much needed
Abilities (not directly connected to financial sphere) developed thanks to financial education are much needed Ranking of abilities, which should be shaped in preschool age according to parents. Naturally on first positions we can find elements of financial education. Ranking of abilities primarily
Slide 16: Attitudes
ATTITUDES 17
Slide 17: Elements of financial education present in parent-child relations
Elements of financial education, which are sometimes present in parent-child relations There are many ways for child development and time spending. Questions is - to what extent is this time used by parents consciously for financial education of 3-7 years old children in everyday life. Over 80% of p
Slide 18: Parents talk less often about finances and budget
Parents Relatively less often admit that they talk to their child aged 3-7 years about finances and home budget or ask their child about opinion in money spending matters. Mothers, significantly more often than fathers, encourage their child to support charity events, whereas fathers more often enco
Slide 19: Situations in which financial education can help are common
Situations, in which financial education can help, are very common According to parents, to most common situation in family life is child's impatience in waiting for a reward and child's inability to focus on a task. Children often force parents to satisfy their desires, do not want to share with ot
Slide 20: Parents are open to teaching children about finances
Parents are open to teaching their children about finances and enterpreneurship – above all in form of a conversation with child, more rarely in form of organized classes. As much as 73% of respondents says, that the nearest future, they plan to talk to their child about money matters, money saving
Slide 21: Emotions
EMOTIONS 22
Slide 22: Financial education of children should start before 7 years old
Financial education of children should start before 7 years old The need for financial education of children is felt by parents. Only 2% of parents believes that watching parents is enough for a child. Three-quarters of parents says that age 3-7 years old is the best moment to start financial educat
Slide 23: It is crucial to further build awareness of programs
It is crucial to further build awareness of financial education programs Awareness of financial education programs among parents is very low - 18% heard about at least one program, but only half decided to sign up their child. 83% did not hear about any financial education program for preschoolers.
Slide 24: Parents are interested in children's participation in classes
Parents are interested in their child's participation in financial education classes As much as 67% of respondents says, that they would be interested in their 3-7 years old child participation in unpaid classes about finances. The reason of interest for half of these parents is belief that such cla
Slide 25: Aware parents appreciate the benefits of programs
Parents, who are aware of financial education programs, appreciate its benefits They are the most interested group in participation of their children in financial education. Interest in participation of a 3-7 years old child in unpaid classes about finances 2% 1% 1% 0% 0% 1% 2% 1% 0% 0% 7% 5% 9% 6%
Slide 26: Reasons for no interest in classes
As much as 67% of respondents declares that they would be interested in participation of a 3-7 years old child in unpaid classes about finances. The rest believes, that it is too early to introduce financial education (41%), that observing parents is enough to learn about finance (25%), or they simp
Slide 27: Parents expect support in financial education of children
Parents expect support in financial education of children As much as 65% of respondents agrees that parents should take care of financial education of their children, meanwhile close to half (47%) expects support from national and private institutions in this matter. 14% points to financial institut
Slide 28: Need for a National Financial Education Program
Among parent of children in preschool age, aware of financial education program, there is a significantly greater need for creation of a National Financial Education Program from preschool. Need for creation of National Financial Education Program from preschool 5% 4% 5% 3% 3% 2% 5% 13% 7% 10% 11% D
Slide 29: Early financial education eases future crises
Financial education started already in preschool age, makes it easier to overcome any future crisis situations Majority of parents of children in preschool age believes that people, who had been educated about money value since very young age, better cope with the existing crisis. Among parents usin
Slide 30: Financial education will bring measurable benefits
Financial education of children will bring measurable benefits in the future Parents of children in preschool age have high expectations towards influence of financial education classes on beneficial future of their children. They believe that children, who take part in classes about money value, in
Slide 31: Parents' self-assessed knowledge and savings for children's future
Close to ¾ of parents of children aged 3-7 years, taking part in the study, evaluates their own knowledge about banking and finances as good, of which 7% claims to be experts in this field. Group of "experts" is significantly higher among people with higher income and owning bank products such as sh
Slide 32: Summary
Summary Need for financial education Abilities developed thanks to financial education are much needed. Situations, where financial education might help, are common (child's inability to patiently wait for a reward and to focus on a task). Financial education started in preschools age makes it e
Slide 33: Bank Millennium Foundation postulates
Bank Millennium Foundation postulates 1 Financial education should start in 2 3 preschool age Financial education should also include parents Creation of National Financial Education Program 34
Slide 34: Bank Millennium Foundation
Bank Millennium Foundation Bank Millennium Foundation click! 2021 Summary of Foundation's activities: click! Preschoolers' parents about financial education - GfK study click! Contact: fundacja@bankmillennium.pl Iwona Jarzębska, Bank Millennium Foundation President: iwona.jarzebska@bankmillennium.pl
Slide 35: Fundacja Banku Millennium
W os AR FUNDACJA BANKU Millennium