CCCU launches Financial Literacy App for the Caribbean
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.
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.