First Citizens Collaborates with ECCB on Financial Literacy Initiatives

First Citizens Investment Services continues its drive to promote and improve financial literary in Saint Lucia, not just with the company’s own annual seminars, but by also providing support to partner agencies such as the Eastern Caribbean Central Bank (ECCB). This year First Citizens collaborated with the ECCB for two immensely beneficial initiatives that focused on providing financial education to a cross-section of persons.

The first drive was the technical assistance First Citizens Investment Services provided to the recently held ten-week Savings and Investments Course facilitated by the ECCB in Saint Lucia. The course was first developed in 2002 as part of the Eastern Caribbean Currency Union’s ongoing financial literacy programme and hundreds of participants have since received valuable insights on developing basic budgeting techniques, improving management skills and learned the basics of investing from practitioners in the field of finance and savings.
This year’s course was held from May 20th to August 5th and First Citizens assisted by providing tutors for several topics including: “Personal Financial Planning, Factors Affecting Your Financial Decisions, Types of Investment Instrument, How to Protect Yourself From Financial Risk, Understanding Financial Markets, How Securities are Bought & Sold on the ECSE, Factors That Affect The Price of Your Investments, Developing & Managing Your Investment Portfolio”.

First Citizens Business Development Manager, Priscilla Charles who was also one of the tutors during the course, explained that teaming up with ECCB for this informative initiative was an easy decision.
“Improving financial literacy has always been part of our mandate and we understand the far-reaching effects of educating even one person, who will in turn share that financial knowledge with their communities, co-workers, family and others they come into contact with,” Ms. Charles explained.

Eastern Caribbean Central Bank Resident Representative, Gregor Franklyn, commended First Citizens Investment Services for the support calling it “timely and invaluable”.

“The participants were very excited to attend the sessions and the passion and knowledge exhibited by the staff of First Citizens has resulted in our next cohort being oversubscribed,” said Franklyn. “Additionally the level of professionalism displayed has manifested itself in the excellent reviews obtained by the facilitators after each session.”

Following the ten-week programme students received a certificate and graduates become part of an alumni family that ensures that they continue to develop their financial expertise and knowledge.

First Citizens was also pleased to provide a facilitator for a developmental session with the netballers of the recently held ECCB/OECS Under 23
Netball Tournament. The session, which attracted over 100 women, was conducted at the Pastoral Centre in Marisule on June 28 and provided netballers with practical financial advice.

Speaking about this session, Franklyn offered thanks to First Citizens for “their unwavering support towards public education and community outreach programmes as we continue to educate the public on economic and financial matters”.

First Citizens is also expected to collaborate with the ECCB again for Financial Information Month, officially marked in October, and is currently preparing for a Men and Investing Seminar to be held in November.