Home Credit Philippines, the leading consumer finance company in the country, teamed up with the Overseas Workers Welfare Association (OWWA) to pay tribute to Overseas Filipino Workers (OFWs) during the OFW Family Day Caravan in Western Visayas.
The two-week-long event brought together over 2,000 OFWs and OFW associations from Antique, Capiz, Guimaras, Iloilo, and Negros Occidental, providing them with an opportunity to spend quality time with their families and reconnect.
In addition to bonding activities, the caravan also aimed to raise awareness about financial literacy and education. OFWs often face financial challenges and return home without significant savings despite working abroad for several years.
“Our primary goal for the caravan was to show our appreciation for Filipino migrant workers. We want to empower them to make informed decisions about how they spend and manage their hard-earned money earned from working overseas. We, at OWWA Region 6, are fully committed to supporting our OFWs, and we want them to succeed and secure a better life for themselves and their families,” said Rizza Joy Moldes, OWWA Region 6 OIC director.
Home Credit took the lead in discussing the basics of budgeting and saving during the caravan, as part of its advocacy program to promote financial literacy across the country. The company also provided OFWs with knowledge about safe consumer finance options that they could explore while protecting themselves and their families from bad debts and financial risks.
“At Home Credit, we honor the modern-day heroes of our country. They serve as an inspiration to many Filipinos because of their strength and perseverance. As they strive to provide for their families, we are committed to equipping them with the proper knowledge to handle their finances and avoid financial mismanagement and risks. We will continue to support OFWs and be their trusted ally, Para sa Life,” said Sheila Paul, Home Credit’s Chief Marketing Officer.
The number of Overseas Filipino Workers (OFWs) worldwide has increased by three percent from the previous year, reaching 1.83 million in 2021, according to the Philippine Statistics Authority (PSA). As the volume of labor migration continues to grow, so is the expected increase in OFW remittances. Majority of OFWs fall within the age group of 30 to 34 years old and 45 years and older, highlighting their roles as parents and breadwinners providing for their families.
Home Credit Philippines, the country’s leading consumer finance company, is dedicated to promoting financial education and providing opportunities for Filipinos to improve their lives. Through its flagship programs Wais sa Home and Alagang Home, Home Credit will remain committed to promoting financial literacy and empowering Filipinos towards a more secure financial future. Home Credit is licensed and supervised by the Securities and Exchange Commission (SEC) and the Bangko Sentral ng Pilipinas (BSP). Visit their official website at www.homecredit.ph for more information.
