Aflatoun International and the International Cooperative Banking Association have signed a new agreement to strengthen youth inclusion in cooperative finance.
Aflatoun International has signed a Memorandum of Understanding with the International Cooperative Banking Association (ICBA) to bring social and financial education closer to children and young people through cooperative systems.
The agreement was signed during the ICBA International Symposium, held at the United Nations Headquarters in New York.
The partnership marks an important step in strengthening youth inclusion in cooperative financial institutions. It also creates new space for Aflatoun and ICBA members to explore practical ways of supporting financial literacy, cooperative values, youth leadership and economic empowerment.
Cooperatives have a strong global reach. The movement represents around three million cooperatives and more than one billion members worldwide. Many cooperatives are deeply rooted in local communities, making them important actors in helping financial inclusion reach children, young people and families where they are.
Aflatoun already works with the cooperative movement across Africa, the Americas and Asia. In the Philippines, for example, Aflatoun’s work with cooperatives has contributed to a model where children can learn, save and participate in safe, age-appropriate ways.
This approach helps children build financial skills early. It also supports confidence, responsibility and participation, preparing them not only as financially capable young people, but also as future members and leaders of cooperative systems.
The new partnership with ICBA builds on this experience. Together, Aflatoun and ICBA can explore activities across more than 50 countries, connecting social and financial education with the everyday work of cooperative financial institutions.
Cooperatives are rooted in trust, community and democratic participation. For children and young people, these values matter. Financial education is not only about money. It is also about learning how to make informed choices, plan ahead and contribute to the community.
Aflatoun extends its appreciation to Subrahmanyam Bhima, President of ICBA, and to the leadership of the International Cooperative Alliance, including Ariel Guarco, Jeroen Douglas and P. Santosh Kumar, for their support during the signing.
By investing early in children and youth, Aflatoun and ICBA aim to support a future where cooperative finance serves the next generation and helps build more inclusive economies.