Monday, February 27, 2023

Home Credit and OWWA collaborate to recognize OFWs in Western Visayas


Home Credit Philippines is the country's top credit provider. At the OFW Family Day Caravan in Western Visayas, the consumer financing company, in collaboration with the Overseas Workers Welfare Association (OWWA), recognized the modern-day heroes, the Overseas Filipino Workers (OFWs).

Almost 2,000 OFWs and OFW associations from Antique, Capiz, Guimaras, Iloilo, and Negros Occidentales participated in the two-week caravan. The program sought to provide a platform for OFWs and their families to reconnect and spend time together. They spent precious time with their loved ones.

Aside from family bonding activities, the caravan also initiated discussions about financial literacy and education, addressing the frequent issue of OFWs spending years working abroad only to return home with little to no savings.

"Our main purpose for the caravan was to demonstrate appreciation for the Filipino migrant workers. We aim to equip people to make informed decisions about how to spend and manage the money they earn while working abroad. We at OWWA Region 6 fully support our OFWs."We want them to thrive and provide a better life for themselves and their families," said Rizza Joy Moldes, OIC director for OWWA Region 6.

As part of its advocacy effort to promote financial literacy across the country, Home Credit facilitated discussions on the fundamentals of budgeting and saving throughout the caravan. The OFWs were also educated on secure consumer finance options that they may pursue while abroad.

They are safeguarding themselves and their families from bad debts and financial threats.
"At Home Credit, we salute our country's modern-day heroes. They are an inspiration to many Filipinos because they demonstrate strength and endurance. We are committed to equipping them with the necessary knowledge to manage their finances in order to avoid financial mismanagement and hazards as they seek to make ends meet for their families. We will continue to support OFWs and be their trusted ally in the future.

According to the Philippine Statistical Authority (PSA), the global number of OFWs has already reached 1.83 million in 2021, a 3% rise over the figure given in 2020. Given the increasing number of labor migration from the Philippines, OFW remittances are likely to rise. The data also shows that the bulk of OFWs are between the ages of 30 and 34, followed by 45 and older, which can be interpreted as parents and other breadwinners traveling abroad to support their families.

Home Credit is dedicated to providing more Filipinos with financial education and the opportunity to improve their quality of life. With its hallmark financial literacy and CSR initiatives. With its hallmark financial literacy and CSR initiatives

Wais sa Home and Alagang Home, Home Credit initiatives will remain at the forefront of encouraging financial freedom and better lifestyles for all.

Home Credit Philippines is a finance company that is licensed and regulated by the Securities and Exchange Commission (SEC) and the Bank of the Philippines (BSP) (BSP). Visit Home Credit Philippines' official website to discover more about the most recent improvements.

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