EBS sponsors booklet on financial language

AN A to Z guide to financial jargon was launched yesterday by adult literacy experts and a leading financial institution.

Coinciding with National Adult Literacy Awareness Week, junior minister Síle de Valera said she hoped the booklet would create better understanding of all aspects of financial products and services.

The guide is part of a three-year financial literacy campaign developed by the National Adult Literacy Agency and supported by the EBS Building Society.

The A-Z of Financial Terms covers 450 definitions of phrases used by staff in banks and financial institutions.

The minister said: “Decisions on financial matters are among the most important that people make during their lifetime and it is up to society to ensure that information on these is accessible and understood by all.”

EBS Building Society boss Ted McGovern said that with over half of adults not having enough literacy skills to function in today’s society, it was a huge challenge for the financial services industry to ensure access to and understanding of information.

NALA director Inez Bailey said that the area of financial services and money management was an area of difficulty for thousands of people.

She said: “We hope this guide and other events planned for National Adult Literacy Awareness Week will address the issues facing many people on a daily basis.”

The guide is available from NALA or from the EBS website on www.ebs.ie from today.