HSBC Donates $40,000 To College Foundation
Bermuda College Foundation received a $40,000 donation received from HSBC, which will be used to provide financial aid for individuals who wish to participate in the 2024/25 ‘Building Financial Literacy’ workshop series at Bermuda College starting April 2024.
A spokesperson said, “The Building Financial Literacy workshop series is delivered by the CFA Society of Bermuda in partnership with Bermuda College. Over 200 individuals have participated in the ‘Building Financial Literacy’ series since it was launched in 2019. In addition to being provided with practical tips in money management, participants learn how to take control of and manage their finances by learning from real life examples. Curriculum is delivered through the following modules:
- The Basics of Budgeting and Savings
- Income, Expenses, and Debt
- Planning for Retirement
- Putting it All Together
“Financial literacy is about being able to understand and effectively manage your money,” states Garry Madeiros, Chair of Bermuda College Foundation. “It is a critical skill for every resident, regardless of age or financial situation, and the learning of it should not be hampered by an inability to cover a workshop fee. I would like to thank HSBC for its $40,000 donation, which will cover the cost of the workshop through financial aid support, to approximately 500 individuals over the next four semesters.”
The spokesperson said, “Research has shown that the macroeconomic effect of financial literacy has a positive correlation with the economic development of countries, creating less debt, increasing investments, and producing higher net worth. 90% of previous course participants were working adults and their feedback reflected being better prepared for financial decision-making and having improved financial knowledge.
“Registration for the April workshop series opened on 18 March. For Workshop details, please visit www.college.bm/pace or call 236.000 ext. 4117.’
“This course aims to elevate financial literacy levels in Bermuda by building practical knowledge through the introduction of basic money and financial concepts,” states Bermuda College’s Interim Acting President, Branwen Smith-King.
“We are grateful to HSBC for funding the financial aid mechanism that ensures access to such an important life management skill.”
“Empowering members of our community with skills in financial literacy and how to manage money better is an investment to better our future and is a central pillar of HSBC’s community engagement strategy” states Rashid Daurov, Chief Financial Officer at HSBC.
“We are proud to sponsor the Bermuda College Foundation and reaffirm our commitment to financial learners of all ages, equipping them with the skills they need to achieve financial success.”
