The Philippine Deposit Insurance Corporation (PDIC) expanded its financial literacy advocacy to private secondary schools with the turnover to the Department of Education (DepED) and the Coordinating Council of Private Educational Association (Cocopea) of the English version of the Teacher’s Guides produced under the collaborative undertaking of PDIC and DepED.

In a ceremony celebrating the PDIC’s 45th anniversary and the culmination of the 6th Depositor Protection and Awareness Week, PDIC President Jose C. Nograles turned over to Education Secretary Jesli A. Lapus the validated Teacher’s Guides in values education and economics which were translated to English. The original guides were developed in Filipino by PDIC and DepED and were distributed to about 5,500 public high schools starting December 2006.

The Teacher’s Guides contain information on the financial sector, responsible banking, and PDIC’s role in helping maintain stability in the banking system. The Teacher’s guides are teaching materials that aim to supplement the integration of financial literacy and PDIC in the high school curriculum. The translated Teacher’s Guides will be distributed to private high schools nationwide in time for school year 2008-2009.

“This is a significant event marking our 45th anniversary with the commitment to broaden our consumer protection and financial literacy advocacy. We at PDIC believe that equipping depositors and potential depositors like students with accurate information is a means of giving them protection, in addition to the protection afforded by deposit insurance,” PDIC President Nograles said.

Last year, PDIC and the Cocopea signed a memorandum of Understanding to enjoin the private high schools to use the Teacher’s Guides in teaching values education and economics. The Cocopea is the umbrella organization of private schools composed of the following associations: Catholic Educational Association of the Philippines (CEAP), Philippine Association of Colleges and Universities (PACU), Association of Christian Schools, Colleges and Universities (ACSCU) and Philippine Association of Private Schools, Colleges, and Universities (PAPSCU). Private high schools have an annual average enrolment of 1.3 million students.

“Strengthening the concept of saving in the secondary education curriculum through the development of Teacher’s Guides complements DepED’s efforts to develop among high school students the values of responsible handling of finances, and preparing them for roles as good citizens and future leaders. It will benefit not just our students but our teachers as well,” Secretary Lapus said.

Nograles said that PDIC plans to extend the project to other segments of society, particularly the OFWs who have the financial resources to save, but may not be financially informed, and to pursue collaborations with other institutions to measure financial literacy levels in the country.

The ceremony was attended by Cocopea Chairman and CEAP President Fr. Roderick Salazar, PAPSCU President Jose Paolo Campos, ACSCU Executive Director Patricio Dionio, PDIC Board Members Rogelio Manalo and Antonio Quila, members of the academe as well as PDIC officials.