“Finanzas Plateadas”: Financial inclusion with dignity for older adults in Ecuador
In Ecuador, more than 1.5 million people are over 65 years old, almost nine percent of the national population. Many of them have worked their whole lives, raised families, and supported their communities. Yet a significant share still finds it hard to access and use formal financial services safely.
Recent national data on financial inclusion shows that around 36 percent of adults in Ecuador remain outside the formal financial system. That is more than four million people over the age of 15. For older adults, this translates into irregular income, low use of digital banking, and a higher risk of being targeted by scams and fraud.
Against this backdrop, Fundación Bien-Estar, the social responsibility foundation of Mutualista Pichincha, asked a simple question: how can we make sure older adults are not left behind as finance goes increasingly digital? Their answer is “Finanzas Plateadas” (“Silver Finances”), a financial education programme created specifically for people over 60.
A safe space to learn, ask, and practise
“Finanzas Plateadas” is now in its second edition. The programme offers free, in-person training in Quito for older adults, whether or not they are customers of Mutualista Pichincha. Opening the doors to everyone is a deliberate choice: inclusion should not depend on being an existing client.
Over six hours of face-to-face sessions, participants explore topics that respond directly to their daily realities: behavioural economics and how our emotions influence money decisions; saving and responsible investment; how to use digital banking step by step; and how to recognise and prevent fraud.
Instead of long lectures, trainers use playful and practical tools. Older adults take part in financial bingo, a “learning match” game and an online Kahoot quiz on personal finances. These methods, inspired by Aflatoun’s active-learning approach, turn abstract concepts into concrete experiences. Participants can try things out, make mistakes in a safe environment, and leave feeling more confident.
Beyond the content, the programme is designed as a community space. Sessions encourage participants to share stories, ask questions that they might not feel comfortable asking in a bank branch, and support each other as they start using ATMs, apps, or new services. Learning becomes something they do together, not something they face alone.
Protecting rights and promoting inclusion
The need for such a programme is clear. While access to bank accounts has increased, many older adults still keep passive accounts or avoid online operations altogether, often because of past bad experiences or fear of making mistakes. At the same time, they are exposed to a growing number of frauds and scams: fake calls, people who pretend to be from financial institutions, and door-to-door schemes that exploit their trust.
“Finanzas Plateadas” responds not only to these real-life risks but also to national regulations on financial education set by the Superintendencia de Economía Popular y Solidaria (SEPS). By investing in this programme, Mutualista Pichincha and Fundación Bien-Estar show that compliance can go hand in hand with genuine social commitment.
In this second edition, 30 older adults have completed the course, joining a growing network of participants who feel more informed and secure when managing their money. Many report that they now understand their accounts better, feel safer using ATMs or digital channels, and know how to say “no” when something looks suspicious.
As Executive Director Natalia Garzón explains, “financial education is key to living with security, autonomy, and wellbeing. That is why this programme was created: to accompany those who have contributed so much to society and who now need to feel supported in an increasingly digital environment.”
A partner investing in sustainable communities
Fundación Bien-Estar was created by Mutualista Pichincha twenty years ago to channel its social investment. Today, the foundation develops initiatives aligned with the Sustainable Development Goals and the organisation’s broader environmental, social, and governance strategy. It works on condominium management, financial education, social responsibility, and environmental management, always with one goal: to help build sustainable, resilient communities across Ecuador.
“Finanzas Plateadas” fits perfectly within this mission. It does more than teach technical knowledge. It builds trust, creates spaces where older adults feel valued and listened to, and strengthens their ability to protect themselves in a complex financial world.
By the end of the course, participants leave not only with new skills, but with a stronger sense of autonomy and connection. They know they are not invisible in the financial system. They have a voice, a community, and concrete tools to make informed decisions about their future.
Why it matters for Aflatoun’s network
Although Aflatoun’s programmes often focus on children and youth, Fundación Bien-Estar shows how Social and Financial Education can support people across the life course. Older adults who feel confident managing money can better support grandchildren, participate in community initiatives, and advocate for their rights. In that sense, “Finanzas Plateadas” complements Aflatoun’s work with younger generations and extends the impact to whole families.
As our Partner of the Week, Fundación Bien-Estar reminds us that inclusion means making sure everyone has a place at the table whether they are just starting school or enjoying their “silver” years.