| On of the strategic directions of the Bank both in Latvia and any other country, where GE Money or GE Money Bank is represented, is a corporate social responsibility and education of the society in financial issues.
The last mentioned issue is also a part of the Responsible lending policy of the Bank. This policy provides for a responsible and conservative approach of the Bank to evaluate solvency of its customers and also it is a promotion of customers’ understanding about different issues that are related to personal finances and financial health of each individual.
Therefore, as a response to the demand in the community and implementing responsible lending philosophy, already in 2007 the Bank (then – AS GE Money) founded the first independent non-governmental organisation – society „Money planning centre”. The Bank still supports projects of this organisation both financially and intellectually.
Mission of the Money Planning Centre is financially educated society of Latvia, where individuals are able to make financially weighted and responsible decisions.
 Next step of the Bank in the society education is “GE Money Bank INTELLECTICUS” – Olympiad of university students in 2009 already the second contest took place and the theme of it was “Solutions for savings to provide financial stability”. The Bank started this tradition of University contests in cooperation with State Education Centre, Ministry of Education and Science of Latvia in 2008, wishing to share its international experience, pragmatism and also creativity.
GE Money Bank support and activities in education of society in financial matters
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June 2010 |
Holiday expense controller is presented to the community.
A special program that can be downloaded in mobile phone to help and facilitate planning and control of different holiday expenses. |
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April 2010 |
Organisation Money Planning Centre presents the first electronic study material about money Study of Money to wider society and presents it to schools of Latvia. This study material has been developed with intellectual and financial support of GE Money Bank. |
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September – December 2009 |
For the second year GE Money Bank in cooperation with the State Education Centre and the Latvian Chamber of Commerce and Industry organises “GE Money Bank INTELLECTICUS 2009”. Theme of Olympiad 2009 is “Savings solutions to provide financial stability”. Grand prix – a possibility to visit an international economics conference in Denmark and the Challenge cup to the university.
Winners this year were team of Stockholm School of Economics in Riga. |
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July – September 2009 |
GE Money Bank in cooperation with a newspaper Neatkarīgā Rīta Avīze Latvijai organises a project Test for families in savings accrual.
During this project three families undertake to save amount of one average monthly salary for their safety cushion by changing their spending habits within three months.
The family which was closes to the goal received a prize from GE Money Bank – additional 500 lats in their savings account “Iespēju konts”. |
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May and June 2009 |
In cooperation with a magazine Marta and newspaper Telegraf organises readers’ stories competition “Saving is easier than you think” to inspire inhabitants of Latvia to save.
In this competition each reader was motivated to send their success story on how they managed to save money for their dream. |
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May-November 2009 |
GE Money Bank experts participate in free seminars of the Money Planning Centre for inhabitants, employees of libraries and social workers, where advantages and differences of various savings products are explained and also told how to start saving. |
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January 2009 |
A unique, but handy and practical budget planning tool Money controller is presented to the Latvian community. It can be downloaded in mobile phone and provides three steps of budget planning: planning, recording of expenditure and analysis. |
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December 2008 |
GE Money Bank in cooperation with the Money Planning Centre starts a campaign A Gift from the heart, where the Latvian society is motivated to prepare presents themselves, celebrate Christmas sincerely and without excessive spending. Campaign continued also in 2009 and as a result in the web-page of the Money Planning Centre now anyone can access a special Bank of ideas for gifts, which was created with a help of Latvian society. |
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October 2008 |
GE Money Bank in cooperation with State Education and Examination Centre begins a new tradition – annual intellectual Olympiad for universities “GE Money Bank INTELLECTICUS”. Theme of 2008 contest is “Human Resources management in current economic conditions of Latvia”.
Winners – students team from University of Vidzeme, who received a Challenge Cup and the grand prix – practical individual training course GE Leadership |
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May 2007 |
AS GE Money in cooperation with Riga International School of Economics and Business Administration established independent, non-governmental organisation Money Planning Centre. More information www.vissparnaudu.lv |
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April 2007 |
AS GE Money, showing a good example, supplements it’s advertising with a warning slogan: Excessive loan liabilities can threaten your financial health.
AS GE Money appealed to the Ministry of Economics and the Consumer Rights Protection Centre to introduce compulsory requirements for all creditors to supplement their advertising with a recommendation to use consumer-financing services after thorough consideration. |
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September 2006 |
AS GE Money stepped forward as a good practice example in the Good Practice Code created by the Association of Lessors, as well as signed for observing the Code. |
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March 2006 |
AS GE Money began financial education of Latvian society by issuing educational books “Consumer Financing ABC” in two parts, where all information on consumer loans, law requirements, consumer rights and many other aspects was provided in a simple and understandable way. |
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