The financial and numeracy skills are particularly important especially in times where increasingly complex financial products are easily available to a wide range of the population. Social finance institutions in three European countries credit unions in Romania and United Kingdom and credit cooperatives in Trentino Italy have joined forces to develop state of the art training and education materials aimed at lower educated. These adult learners will benefit from financial education (incl. numeracy) materials. Using them will diminish their costs of financial ignorance as consumers who fail to understand the concept of for instance interest compounding, spending less on transaction fees, run up lower debts, and incur lower interest rates on loans, and end up borrowing less and saving more money. Moreover the partner organizations will develop governance manuals that will improve members participation in decision making and the performance in the social mission of these organizations. Improved numeracy and financial literacy and financial planning skills and and participation in the governance of social finance organizations will improve adult learners competitiveness on the labor market, increase their sense of initiative, and empower them to more actively participate in society. The specific intellectual outputs to be developed are: Financial education handbook/guide for coop / credit union members - families, including youth, Trainers materials for adult educators /group facilitators in financial education, Report on current situation on financial education and numeracy to low-skilled adult learners and youth in Romania and 2 case studies from Italy and one case study from Romania on financial education and numeracy to low-skilled adult learners and youth and Governance for social finance institutions - a Manual for credit union governing and management bodies, Governance trainers materials (checklists, exercises) and a member's handbook. 160 credit unions leaders, senior staff and trainers in Romania coming from the 40 county regional networks and 80 different credit union organizations will attend the two multiplication events on financial education and governance of social finance institutions. In addition 30 credit union representatives from North West England will be involved in designed the Governance manual and will attend the multiplication events on financial education and governance of social finance institutions and will receive the publications produced. 37 credit union staff / trainers from UNCARS and ALS from Romania and 12 credit union staff / trainers from England and Italy will improve their training skills in teaching financial education to low skilled adults and in governance of social finance institutions through joint staff training events.
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