CCCU launches Fi­nan­cial Lit­er­acy App for the Car­ib­bean

Jamaica Gleaner - - INTERNATIONAL CREDIT UNION DAY FEATURE -

THE CAR­IB­BEAN Con­fed­er­a­tion of Credit Unions (CCCU) with fi­nan­cial as­sis­tance from the ACP-EU Mi­gra­tion Ac­tion, an ini­tia­tive of the ACP Sec­re­tar­iat and the Euro­pean Union, im­ple­mented by the In­ter­na­tional Or­gan­i­sa­tion for Mi­gra­tion, and funded by the Euro­pean Union has suc­cess­fully de­vel­oped a Fi­nan­cial Lit­er­acy Mo­bile App for the Car­ib­bean re­gion.

This app is now avail­able to any­one want­ing to ac­cess fi­nan­cial in­for­ma­tion, gain more knowl­edge on how to man­age money or even bud­get on the go. Ap­pro­pri­ately named $mart Fi­nance, the app is down­load­able on both An­droid and iOS de­vices and was specif­i­cally cre­ated for the 15-35 age de­mo­graphic, but is ac­ces­si­ble to other age groups within the Car­ib­bean.

FI­NAN­CIAL IN­DE­PEN­DENCE

The ca­pa­bil­i­ties of the app in­cludes and ex­plains fi­nan­cial con­cepts which may not nor­mally be fa­mil­iar to a per­son who is sim­ply em­bark­ing on a life of fi­nan­cial in­de­pen­dence for the first time, or who has been the re­cip­i­ent of re­mit­tances, or who is seek­ing to de­velop in­vest­ment op­tions.

The app will also be en­hanced over the com­ing months, with the ad­di­tion of videos from re­gional per­son­al­i­ties speak­ing about their ex­pe­ri­ences in sav­ing and in­vest­ing. A very in­ter­ac­tive fea­ture of the app is the Bud­get Buddy, which al­lows the in­put of ex­pen­di­ture and rev­enue, so that the user can see – at a glance – whether they are over­spend­ing or whether their money habits are healthy. There is also the My Vault tab, which gives the user the abil­ity to col­late all ar­ti­cles rel­e­vant to them, in one place.

The app was tested among fo­cus groups within the re­gion and also de­pended on a core team of credit union­ists from credit union leagues in var­i­ous is­lands who helped in shap­ing the look and feel of the end prod­uct.

For more in­for­ma­tion please con­tact the Ja­maica Co-op­er­a­tive Credit Union League, a mem­ber of the Car­ib­bean Con­fed­er­a­tion of Credit Unions. This rep­re­sents the fam­ily of mankind work­ing for the mu­tual ben­e­fit of all. This rep­re­sents the self-help na­ture of credit unions.

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