Decentralised structures, cooperation within a network, as well as dual vocational training and financial literacy – these are the factors of success of the German Sparkassen. How to put this into practice – that was the core issue of the visit of representatives from Latin American savings banks, cooperative banks, associations and government organisations, taking place from 6 to 12 September 2015.
First stop: Visit of the German Savings Banks Association (DSGV) in Berlin
The first stop of the delegation was a visit to the German Savings Banks Association (DSGV) in Berlin. Dr. Karl-Peter Schackmann-Fallis, Executive Member of the Management Board, welcomed the guests from Latin America, and Dr. Thomas Keidel, Director Financial Market Relations, informed about the German Savings Banks Finance Group (Sparkassen-Finanzgruppe) and the role of savings banks in Germany. In the following, Sparkassenstiftung’s Project Mangers Inka Rank and Gerd Weißbach gave insights into the work of the Sparkassenstiftung für internationale Kooperation (Savings Banks Foundation for International Cooperation).
Hands-on experience with financial literacy: Visiting the advisory service ‘Geld & Haushalt’ (Money and Private Households)
In the afternoon, Korina Dörr, Head of the advisory service ‘Geld und Haushalt’ (Money and Private Households), informed the guests about financial literacy within the German Sparkassen-Finanzgruppe (Savings Banks Finance Group). With financial literacy gaining rising importance among Latin American (micro) finance institutions, the delegation members were highly interested in this issue and wanted to learn more about the experiences of the German Sparkassen.
Financial literacy of the population is one of the most significant elements helping the German savings banks to put their social mandate into practice. Furthermore, financial literacy is an efficient tool to strengthen the relationship between the banking institutions and their customers. For more than 50 years now, the German Sparkassen have engaged themselves in measures improving financial literacy. <link https: www.geldundhaushalt.de _blank>Money and Private Households renders services to adult consumers and customers, whereas the <link https: www.sparkassen-schulservice.de _blank>Savings Banks School Service is particularly geared towards children and young people.
Insights into the daily routine of a savings bank and the East German Savings Banks Association (OSV)
On the other day, the guests from Latin America visited the Mittelbrandenburgische Sparkasse (Savings Bank of Central Brandenburg) in Potsdam. Robert Heiduck, the savings bank’s press officer, showed the delegation around the office rooms of the historical building at the Luisenplatz. Back in Berlin, the guests visited the Ostdeutscher Sparkassenverband (OSV – East German Savings Banks Association). OSV’s Manager of the Executive President’s Office, Wolfram Morales, informed the interested delegation members about the significance, tasks and financing of the OSV as regional association. The OSV is the official German partner and counterpart to associations within the scope of Sparkassenstiftung’s cooperation projects in Latin America.
Learning from the German savings banks model: East German Savings Banks Academy informs about dual vocational training for bank clerks
On Wednesday, 9 September, Dr. Helga Scheil welcomed the delegation members at the East German Savings Banks Academy (OSA) in Potsdam. Being responsible for OSA’s education management, policies, committee work and e-learning, she informed the guests about interesting aspects of such topics like basic and advanced training within the Savings Banks Finance Group, structures, tasks and financing of the Savings Banks Academy, as well as contents and objectives of learning, special features of dual vocational training and advanced training of managerial staff.
Visiting the Saalesparkasse in Halle: Targeting public welfare, customer proximity and social mandate
In Halle (Saale) the delegation was welcomed by Dr. Jürgen Fox, Chairman of the Saalesparkasse. Dr. Fox informed the Latin American guests about the operating area of the savings bank, its size, staff and customer structure. The delegation was very much interested in the issue of public welfare, which is one of the targets of a German Sparkasse.
Another fundamental principle pursued by the German savings banks was highlighted in the following discussion: Dr. Fox explained why the Saalesparkasse even operates some branches that do not work profitable. The savings banks’ proximity to their customers, even in small villages, is highly valued by all German savings banks. Profitability and social mandate are not a contradiction, but two equally important goals.
The financial concept of the German savings banks was also met with high response by the delegation members, due to its structured and all-encompassing approach of customer consulting. Guido Ulbricht, Sales Trainer of the Saalesparkasse, showed how customers get a vivid picture of rather abstract financial products with the help of a wooden pyramid explaining the different levels of the savings banks financial concept.
On the following day, Kathrin Wolke, Head of Saalesparkasse’s HRD Department, informed the guests about the advantages of dual vocational bank training. The visitors were impressed by the dual vocational training model and consented that investing in the training of junior staff pays back. Mrs. Wolke explained that the trainees are well prepared to fulfil the job requirements of a savings bank thanks to dual vocational training. In addition, it is ensured that the junior staff meets the high quality standards of the Saalesparkasse. Furthermore, the level of identification with the banking institute is much higher among the staff that was trained at the own savings bank, than among those employees, coming from a different institution. Thus, the dual vocational training model helps to reduce the savings bank’s fluctuation cost of staff.
Somon Ismatov, one of Saalesparkasse’s trainees, shared his personal experiences with the foreign guests. Ismatov comes from Tajikistan, where he worked as project assistant in one of Sparkassenstiftung’s projects. After the completion of his bank training in Germany, he will return to his home country. The qualified banker-to-be is convinced that his training with the Saalesparkasse is a perfect basis for his future professional career at a savings bank or a commercial bank. For that reason he is intent on further spreading information about the model of dual vocational training in Tajikistan.
An article published by the Sparkassenstiftung in the newspaper of the Savings Banks Finance Group "Sparkassenzeitung" (number 45) can be accessed <link file:98 _blank>here (German language only)
More information about Sparkassenstiftung’s project work in Latin America can be accessed<link http: www.sparkassenstiftung.de en projects projekt regionalprojekt-zur-verbesserung-des-nachhaltigen-zugangs-zu-finanzdienstleistungen-durch-die-staerk.html _blank> here
Contact Partners:
Inka Rank / Carina Lau
Sparkassenstiftung für internationale Kooperation
Simrockstraße 4
53113 Bonn
Tel.: +49 228 9703 -6631 / -6608
Fax: +49 228 9703-6613