On November 14, 2016 Opportunities for My Community Project officially launched its Financial Education component in partnership with two financial institutions, Banco Industrial and MICOOPE. Through unique and highly individualized sessions, the goal is to advise 120,000 people across Guatemala and bring at least 20,000 of them into the formal financial system; in other words, promote financial inclusion.
This goal is crucial in a country like Guatemala where close to 60% of its adult population does not have a bank account and only 15% saves at a financial institution (World Bank, 2014).
At its initial stage, the project has not only exceeded expectations, it has also targeted a wide diversity of people, truly reflective of Guatemala’s population: youth and old, indigenous and non-indigenous, men and women, housewives, agricultural workers, salespersons, and students.
In this report, we provide some preliminary results of the financial education project as well as information on one of the key components to its success: the team of educators.