San Fernando City, La Union – Rang-ay Bank recently conducted a financial literacy seminar for uniformed personnel, aiming to equip them with essential knowledge and skills for effective money management. The initiative, part of the bank’s ongoing commitment to community development, was designed to address the specific financial challenges faced by police officers and other members of the uniformed service.
During the seminar, participants were educated on a range of topics, including budgeting, saving, debt management, and investing. The program emphasized the importance of creating a sound financial plan to ensure long-term stability and security for themselves and their families. Rang-ay Bank representatives provided practical tips and introduced various banking products and services tailored to help the personnel achieve their financial goals.
“This seminar is one of Rang-ay Bank’s advocacy to our stakeholders. We want to teach them how toa save and manage their finances. We also want them to invest and at the same time, give them pointers on how to avoid scams” said Fretzy Michaela Bernardo, Marketing Officer-In-Charge, Rang-ay Bank.
For police officers, who face unique stressors and demanding work schedules, financial literacy is a powerful tool that can lead to significant improvements in their personal and professional lives.
For instance, financial worries are a major source of stress. By learning how to manage their income, build emergency funds, and plan for the future, officers can reduce their financial anxiety. This allows them to focus better on their duties and enhances their overall mental and physical well-being.
The seminar also provided the uniformed personnels of La Union Police Provincial Office, in Camp Deigo Silang an enhanced financial security. With proper knowledge of savings and investment strategies, officers can build a cushion for unexpected expenses and prepare for retirement. This is particularly crucial for uniformed personnel who may retire earlier than their civilian counterparts.
The seminar highlighted the risks of high-interest loans and offered alternatives for responsible borrowing. Armed with this knowledge, officers can avoid falling into debt traps and instead make informed decisions about credit and loans.
One of the most important topics discussed in the seminar which is timely and beneficial for the participants is the protection from financial scams. Financial literacy also equips police officers with the ability to identify and protect themselves from various financial scams and fraud, a common threat to individuals with stable income. Their training can also help them better inform the communities they serve about these risks.
On behalf of the participants, Police Major Dean Kristofer Benas thanked Rang-ay Bank for the Financial Literacy Seminar as this is vital to his team. In his speech, he discussed the importance of the three “M”; Mag-ipon, Mag-invest and Manatili ang pagiging low profile. He also reiterated to his colleagues the importance of living simply and not beyond their means.
Ultimately, better financial management enables officers to live within their means and achieve personal goals, whether it’s purchasing a home, funding their children’s education, or pursuing other personal aspirations. This contributes to a higher quality of life for them and their families, fostering greater job satisfaction and morale.
The seminar was met with positive feedback from the participants, who expressed gratitude for the valuable insights provided. Rang-ay Bank plans to continue these financial education programs, recognizing the vital role that uniformed personnel play in society and the importance of supporting their financial well-being.
