The Global Money Week (GMW) 2025 is a global campaign dedicated to raising awareness about the importance of financial literacy and financial education among the youth. Organized annually by the OECD International Network on Financial Education (OECD/INFE), this initiative promotes responsible financial behavior, equipping the youth with essential skills to manage money wisely and make informed financial decisions. In line with this advocacy, the Cooperative Development Authority (CDA) Head Office through its Credit Surety Fund Service (CSFS), Cooperative Research, Information, and Training Division (CRITD), and the office of the Finance Cooperatives Cluster, facilitated the celebration of Global Money Week 2025 with the theme “Think before you follow, wise money tomorrow”.
In support of the advocacy, the CDA featured the Global Money Week celebration for its maiden episode of “Koop Kapihan sa Bagong Pilipinas ” on March 17, 2023 attended by its officers and personnel from its head office and college students currently serving as interns of the Agency. Virtual participants from CDA’s regional extension offices, Youth, Laboratory and Guardian cooperatives nationwide joined the event which was livestreamed via Youtube. The event was hosted by CSFS Service Director, Joselito O. Hallazgo.
Serving as Resource Persons in the forum were Ms. Lizette O. Antonio, Bank Officer IV, Bangko Sentral ng Pilipinas on the topic Financial Education Initiatives, Ms. Akeelah Julia M. Dela Cruz, former Vice Chairperson, Savers and Friendly Entrepreneur Laboratory Cooperative who shared insights on her financial journey as a youth saver and CSFS Deputy Administrator Atty. Elizabeth O. Batonan who discussed the salient features and benefits of the Republic Act 11765, also known as the Financial Consumers Protection Act. CDA Chairperson Usec. Alexander B. Raquepo, and Head of the Finance Cooperatives Cluster Asec.Luz H. Yringco acted aspanelists during the discussion.
Before diving into the main discussion, Asec. Yringco challenged the youth in her message, stating:” We are going to make sure that you will help us convince your peers, your communities, your families to really think before you follow because definitely, there is going to be safe financial freedom in the future”. She also mentioned that there is a great opportunity for the youth to lead us being the next generation of leaders.
Following the message of Asec. Yringco, Usec. Raquepo also addressed the younger generation, emphasizing, “The Cooperatives’ future is in the safe hands of our youth. Yes, you are the future of our motherland. You are also the future of cooperatives,.. but it doesn’t end with the saying alone it should be continued with action….. I am certain that the future of cooperatives is going to be sustained and further developed by you.” The panelists strongly believe that the youth will play a crucial role in shaping the future of the country. Their actions, choices and level of awareness today will definitely determine the direction and success of the country in the years to come.
A notable feature of the celebration was the participation of the invited resource person from the Bangko Sentral ng Pilipinas (BSP), Ms. Lizette O. Antonio to discuss Financial Literacy for the Youth. Usec. Raquepo opened the discussion by posing his first question to the speaker. How can BSP be an instrument in financial education, especially among the youth? Ms. Antonio mentioned that this challenge was already addressed through the three (3) Key areas developed by BSP, which include (a)Institutionalized partnerships with key government agencies (b) Learning tools (AVPs, Print Materials, Social media content) and (c) Direct delivery of financial learning session.
As a follow-up on Usec. Raquepo’s question, Asec. Yringco asked about the potential difficulties or challenges the youth might face in reaching out for this financial education. In response, Ms. Antonio explained that accessibility remains a key issue, as not all young people have access to social media, technology, or connectivity. “So that is also one challenge, the Targeted approach because you really have to tailor fit the content and the delivery of the materials to their specific needs”, Ms. Antonio added.
Following the discussion on Financial Literacy for the Youth, the Credit Surety Fund Service Deputy Administrator Atty. Elizabeth O. Batonan led the discussion on Republic Act No. 11765 also known as the Financial Products and Services Consumers Protection Act.
Atty. Batonan, in her discussion on the importance of Financial Literacy as a financial consumer, emphasized the importance of knowing our rights and obligations as a “money actor”. She also added that youth are also money actors, for they are recipients of financial services and financial products. During the discussion Asec. Yringco raised the issue of scams and asked how the law under RA 11765 could help prevent future fraudulent activities. Atty. Batonan began by discussing the purpose of RA 11765 underscoring its primary objective which is to protect the rights and interest of the financial consumers. She mentioned that there should be a mechanism on the part of the institution to ensure the rights of the consumers are protected.
Alongside is the seventeen-year-old member and former vice-chairperson of the Savings and Friendly Entrepreneur (SAFE) Lab Cooperative, Ms. Akeelah Julia M. Dela Cruz joined in the live-streamed discussions. She provided a thorough and gracious response, explaining how she could inspire other youths to join cooperatives or become savers through other cooperative initiatives. Sharing her experience with cooperatives was one of her steps to influencing other youths to join (their) cooperative. “If they will hear my first-hand experience in the cooperative , they will learn what are the benefits, goals and the objectives of the program….”. Whenever I see young people like me, and I can see that they share the same interest and passion with me when it comes to financial education, I would always mention our cooperative…. I truly believe that discussions like these should start at a young age so that even children can develop an early awareness of financial literacy”, Ms. Dela Cruz explained. In addition, Asec. Yringco suggested creating short videos like reels or TikTok to introduce the financial literacy program believing that this approach would have a multiplier effect, engaging and inspiring more youth.
The Koop Kapihan sa Bagong Pilipinas was successfully launched in support of the campaign for Global Money Week 2025. Their contributions enriched the dialogue on topics of Financial Literacy.
To further support the advocacy of Global Money Week, the CDA organized a tour of the Bangko Sentral ng Pilipinas (BSP) Security Plant Complex in Quezon City on March 18, 2025, participated by fifty (50) employees and college interns of CDA Head office. The activity enabled the participants to have a tour of the bank note printing plant,a mint and gold refinery and see for themselves the processes involved in producing currency notes and coins.
Through these initiatives, the CDA remains committed to supporting financial literacy efforts, empowering youth and individuals with skills and knowledge for their financial well-being. Moving forward, similar activities will be undertaken every year to sustain financial awareness and to promote a financially literate society.
The activities conducted aligned with the GMW campaign’s objective of equipping individuals especially the youth with financial knowledge towards a resilient future. – Rean Escandor
To view photos of the activity, click HERE.
