BNP Paribas Cardif Life Insurance announced that it has launched the ‘Credit Care Academy’, an economic education corporate social responsibility (CSR) activity centered on credit management for middle school students and single parents.
BNP Paribas Cardif Life Insurance is the life insurance subsidiary of BNP Paribas Cardif in Korea, the insurance arm of BNP Paribas, and the world leader in creditor insurance.
‘Credit Care Academy’ is an extension of BNP Paribas Cardif Life Insurance’s mid- to long-term CSR initiative ‘Dream High’, which has been continued for 12 consecutive years with ‘JA Korea’, an international NGO specializing in economic education for the young generation. From this year, BNP Paribas Cardif Life Insurance will focus on informing the importance of credit management, which is being more emphasized for the financially vulnerable in accordance with the changing financial circumstance.
In August, two Credit Care Academy for middle school students and single parents were conducted, and another program for the senior will be followed during the Q4. The middle school academy was held for Bongrim Middle School students in Seoul. BNP Paribas Cardif Life Insurance’s employee mentors at each department met more than 100 students in person to share their career exploration and recruitment process, and introduced the concept of credit/importance of credit management/wise credit management habit. Through the single parents academy, the necessity of continuous credit management as well as income and expenses in the process of establishing and implementing personal financial plans has been stressed through financial education and practices by professional instructor. In addition, by sharing the issue of debt inheritance, which has recently become a public agenda, it was informed that it may be necessary to prepare for unexpected situations such as the inheritance of debts by minor children.
Jonathan Oh, the President and CEO of BNP Paribas Cardif Life Insurance said, “As interest rates rise recently, the social responsibility of financial institutions to the financially vulnerable is being emphasized more than ever. In line with this trend, we have reorganized the Dream High program, which has been running for 12 consecutive years, into a credit management-focused economic education for various members of society such as middle school students, single parents, and seniors. As a leading domestic creditor insurance company, we will continue to implement a ‘Credit Care Program’ to support integrated credit management in the future, and intensifying our efforts as a responsible financial company to contribute helping people deal with social problems such as household debt and debt inheritance”.
BNP Paribas Cardif Life Insurance, taking the lead in promoting domestic creditor insurance which repays the remaining loan in case of the unexpected insurance accident, is also planning to implement a ‘Credit Care Program’. Currently, BNP Paribas Cardif Life Insurance provides an integrated support for financial consumers’ credit management by offering useful contents via ‘Credit Care Guide’ and conducting economic education CSR activity ‘Credit Care Academy’ for the financially vulnerable.