COFACE: A new Compendium on Financial Inclusion advocates for a financial system at the service of Europe’s citizens
The Confederation of Family Organisations in the European Union (COFACE) has launched today the “Compendium on Financial Inclusion”, a publication compiling good practices from seven civil society organisations, providing independent advice, social loans and advocating for a financial system at the service of Europe’s citizens.
COFACE has always considered financial inclusion as one of its priorities, especially since access to some financial services like a basic bank account is a pre-condition for social inclusion.
Families need access to certain financial services in order to make key investments during their life course: invest in housing, acquire means of transportation, and cover common risks such as illness. For each of these needs there is a corresponding financial service such as a mortgage, a consumer credit or an insurance policy.
In the Compendium on Financial Inclusion, COFACE gathers good practices from seven member organisations covering many topics such as budgetary education and awareness raising campaigns, debt mediation initiatives, and courses to raise the low level of financial capability. The publication also showcases social innovations such as social mortgage credits that make financial services fair, accessible and affordable to vulnerable families.
COFACE encourages families to attend budgetary education classes which give them basic financial knowledge and skills associated with owning a simple accounts and assets.
Through this publication, COFACE will develop further actions together with a broad network of partners, tackle the different aspects of financial inclusion and advocate for a financial system at the service of Europe’s citizens.
The COFACE Compendium on Financial Inclusion is available here in English, French and Spanish.
It is also possible to obtain a hard copy of the publication by contacting the COFACE Secretariat.
