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PrivatBank announces new enrolment to JuniorBank school of financial competence for children

For eighth consecutive year, upon beginning of the new academic season, PrivatBank offers a free extracurricular educational program in extremely important financial competence for children of elementary school age. The main purpose of the JuniorBank school is to help children to acquire fundamental knowledge and practical skills in financial sphere, which are not usually taught in kindergarten or at school.

According to the manager of JuniorBank school Jekaterina Fomina: “During creation of content of teaching for people, who would become the cornerstone of our national economy in the future, namely – for young people, we pay particular attention to formation of understanding regarding interdependencies between money, work, forethought of decisions, financial discipline and economic position. Thus, through minimal usage of interactive methods, students develop enhanced – and above all – permanent understanding regarding financial planning and usefulness of expenses; they are also introduced to family budget formation, planning of income and expenses.”

The training , which takes place at the very heart of Riga in the afternoon, helps children to have a complete overview of the financial world, facilitates greater understanding of money matters between the child and parents, helps to manage money in a more meaningful way and to respect the parents’ job, as well as prepares the child for independent life in a world, where money holds a prominent place.

The training material is regularly revised, with inclusion of such primary skills, which could be required in the foreseeable future. For instance, for several years, during the JuniorBank lessons, students create own start-ups, write business plans, present them and gain knowledge regarding attraction of investments. Speaking of which, JuniorBank graduates have already implemented several start-up ideas.

The training material provided by the leading specialists of the Bank is verified and reinforced by means of passing check-up tests; in its turn, after training conclusion, a diploma is issued, which certifies financial competence.

The first lesson at JuniorBank School will take place in October and will be held in Riga, at 1 Muitas Street, in Latvian and Russian languages.
Parents still have a chance to apply their children to school. Trainings will take place once a week in the afternoon, for a period of 8 weeks. There will be 15 to 25 students in each group.

Junior card is a payment card for children and young people aged from 6 to 17, which serves as an entrance pass and allows to attend trainings on financial competence at JuniorBank free of charge.

Any parent can sign up their children for this payment card free of charge. It may become the child’s first electronic wallet, which they will be able to use for purchases in Latvia, abroad and on the internet. Moreover, in case of losing the card, the child does not lose their money compared to ordinary wallet. In their turn, parents can conveniently track the child’s expenses via SMS Banking or the internet banking.

It is possible to apply children to JuniorBank School at any of 11 bank branches, or by calling the toll-free information number 80001515, or via the bank website.

JuniorBank School is inviting children since 2011. More than 800 kids from Riga, Liepaja, Daugavpils and Rezekne have graduated from JuniorBank School established by PrivatBank.

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