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CFA Society Uruguay wanted to improve the level of financial literacy locally. Using the global CFA Society network, the Society was able to connect with CFA Society Atlanta and collaborate on a high impact financial literacy initiative.
Barbara Mainzer, CFA, President, CFA Society Uruguay, explained: “Financial literacy is something that impacts us all – we make financial decisions on a daily basis but many find this difficult. The level of financial literacy in Uruguay is generally very low – we wanted to make a positive contribution to help raise the standard. I started asking who would be a reference on the topic and was immediately directed to George Chen, CFA, President of CFA Society Atlanta.”
George was very happy to help Barbara with this financial literacy initiative and put her in touch with Stephen Davenport at the Society, who was leading the work in this area. George noted: “I’d first met Barbara in Hong Kong in May 2018 at the Global Society Leadership Conference. The conference helped serve its purpose by bringing together society leaders from around the world to share great ideas and best practices.”
Barbara and Stephen had multiple discussions. Stephen said, “On our first calls there were so many similarities with how we viewed our roles as CFA’s in the community. Leaders need to lead and so it was important for us to step in where there was a gap in a communities’ learning. Barbara was very practical and she didn’t want to re-plow the ground of financial literacy fundamentals. She also was interested in how we focused on the “human capital” aspect of well-being.”
CFA Society Atlanta generously shared its relevant financial literacy research and materials, which CFA Society Uruguay was able to adapt for the local Latin American market. Barbara believed the best way to ensure the initiative was wide-reaching was through TV shows and columns in newspapers with nationwide reach. The Society successfully secured five weekly TV show interviews on VTV, where Barbara spoke about financial literacy issues, and a full-page column in one of the largest newspapers in Uruguay, El Observador.
CFA Society Atlanta is also collaborating and sharing its work with other CFA Societies. The Society received project funding and has produced a series of education videos that provide financial literacy fundamentals to the community. As Stephen explained: “Barbara saw the advantage of using videos and media to help people throughout her community. We need to expand our reach beyond one-to-one meetings and cooperate to address this tremendous community need.”
Barbara noted: “I am very grateful to Stephen and George for the generosity with which they shared their research and work and for the great journey. This is the magic of CFA Institute – an institution with amazing breath, talent and scale. I am sure we will see much more collaboration amongst CFA Societies in the years to come.”
VTV weekly program on financial literacy
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