Social impact through financial education: Aldermore Bank

Creating a positive impact in the community is an important purpose of many businesses, supported by expectations from investors, employees, and consumers. Even more important is creating a meaningful impact by effectively addressing people’s real needs. Aldermore Bank is one company looking to do so in the UK, having identified a lack of financial literacy as a barrier to a better life.

The company set out to support young people in understanding the economy and personal finances, and to that end has sponsored an interactive financial education programme across 25 schools in Cardiff and Greater Manchester, with more to come. The subject areas cover a wide range of topics, including current and savings accounts, creating a budget, and planning for retirement, and the mobile-first programme is available on all internet-enabled devices.

Watch this quick video for a peek of the programme in action at Beaumont Collegiate Academy secondary school:

Aldermore made this programme available to the community free of charge, through a partnership with EVERFI. It includes access to EVERFI’s digital course Aspire, which helps 14-18-year-olds learn about the economy holistically through different perspectives: as a consumer, an employee, an entrepreneur, or an employer, while understanding its relevance to their lives.

By combining this digital resource with live workshops delivered in schools, Aldermore is creating the kind of positive, meaningful impact that initially motivated them to act: ‘Your background shouldn’t determine your future but, for too many people in our society, it does. Providing access to financial education is one important tool to disrupt this pattern’, says Steven Cooper, CEO of Aldermore.