In what ways does Nordea support local communities?
Nordea is a provider of financial services, and on Group-level we have therefore decided to focus on using our core competence when engaging in corporate volunteering. Our corporate volunteering projects include:
- Financial education for young people
- Debt advice to socially disadvantaged people in Denmark
- Entrepreneur seminars for unemployed in Latvia
- Support of children’s and young people’s access to sports and culture
Our Financial Education programme for 13-18 year olds in the Nordic countries is in line with Nordea’s value “It’s all about people”. On the one hand, it is an investment for the future, significantly enhancing the youths’ understanding of financial matters. It will increase their ability to handle their own daily finances and to understand the basic elements of the financial system, thus also leaving them better equipped to face the financial realities of adult life. On the other hand, it gives our employees an opportunity to use their core competences and to truly make a sustainable societal contribution by educating the future generations. The project involves Nordea employees volunteering for providing financial education in schools in the Nordic countries. The education will focus on six core areas:
- General economy
- Importance of paying your bills
- Planning the future
The basic, easy-to-understand information is provided objectively. Employee volunteers use concrete examples to facilitate learning. Our target for the first year, 2010-2011, is to provide financial education for 20,000 young people.
Projects for disadvantaged members of society
In recent years, we have also run country-specific corporate volunteering projects for disadvantaged members of society. In Denmark, a number of our personal banking advisers have volunteered to offer free debt advice to socially disadvantaged Danes as a part of an initiative by the Danish Ministry of the Interior to help heavily indebted people.
In Latvia, Nordea has run free of charge seminars for unemployed customers in difficult financial circumstances. The seminars’ aim is to enhance the customers’ competitiveness in the job market by promoting creative thinking, providing advice on individual finance planning, CVs as well as job interview preparation. The concept has been further developed, leading to the launch of the Nordea Business School in Latvia. Aimed at helping emerging entrepreneurs with a wide range of issues, ranging from developing their business ideas to facilitating in arranging meetings with potential investors, the school is open to unemployed customers as well as members of the general public. The classes run over a six month period and are taught by leading business consulting and staff training companies in Latvia along with the Stockholm School of Economics in Riga.
In addition to financial education, Nordea’s community involvement initiatives are centred on promoting children’s and young people’s access to sports and culture.
In Denmark, Nordea is the main sponsor of the Danish Handball Federation’s youth activities. Nordea’s contribution goes mainly to the recruitment of more coaches and to the support of summer camps for children.
In Finland, the Nordea Jean Sibelius Orchestra gives young musicians the opportunity to perform with top professionals. Since 2007, more than 250 musicians aged 12 to 30 have participated in the orchestra holding regular performances.
In Sweden, Nordea is a youth ambassador of track and field sports. With the help of our sponsorship, local athletic clubs are able to arrange summertime track and field schools and training. The Nordea Track and Field Academies annually provide activities for approximately 20,000 children and youths.
In Norway, Nordea sponsors the Paralympics Committee and Confederation of Sports (NIF), the umbrella organisation for sports, with over 12,000 sports clubs and more than 2 million members.