BBVA helps customers who lose their only home
Employment program and handouts of up to 400 euros for two years
• The initiative includes an employment support program (developed by the Adecco Foundation) and handouts of up to 400 euros a month for two years given to families in need who lose their only home
• BBVA has helped more than 160,000 families in difficulty since the start of the economic turmoil
• These measures are joined to the Yo Soy Empleo (I am employment) program, recently launched to create 10,000 jobs through direct handouts to SMEs and the self-employed
• BBVA has allocated 60 million euros to new social programs, which include the current program, Yo Soy Empleo and the ‘Tu solidaridad vale el doble’ (Your solidarity is worth twice as much) initiative
BBVA has launched a new set of social measures in order to help customers who cannot pay and lose their only home as a result of legal proceedings. To this end, BBVA has launched an employment program that includes guidance, training and assistance in job hunting, as well as handouts of up to 400 euros per month for 2 years. This initiative, in which the Adecco Foundation has been involved and the bank will allocate 32 million euros, joins those that have recently been launched to mitigate the effect of the economic turmoil on families in need, such as ’Tu solidaridad vale el doble’, through which 5 million euros was raised, or those focused on SMEs and the self-employed such as Yo Soy Empleo, which aims to help create 10,000 new jobs.
The economic turmoil and unemployment have led to many families struggling to cope with their debts. Since the beginning of the economic turmoil, BBVA has been working on a comprehensive plan to provide solutions to all these people.
A plan, the first initiative of which has been the re-financing processes driven since 2008 that have already benefited more than 160,000 families. A measure that has allowed nine in 10 families experiencing difficulty in paying their dues to be able to adapt their installments to their capabilities. Additionally, BBVA has adhered to the code of good practice and has recently provided 900 homes to the Social Housing Fund.
Following the recent launch of Yo Soy Empleo – an initiative that aims to create 10,000 jobs through direct handouts to SMEs and the self-employed – BBVA is now focusing on families in need who have lost their homes.
This new social initiative is intended for all the families who lose their only home from January 1, 2013 as a result of a lawsuit filed by BBVA. A plan that revolves around two axes: a support program to help people in difficult situations find a job combined with handouts of up to 400 euros per month for two years.
Employment support program offered jointly with the Adecco Foundation
BBVA, jointly with the Adecco Foundation, has launched an employment support program to help all customers who have lost their only home. Considered one of the main pillars of this package of measures, this support program consists of various phases, in addition to providing a training plan tailored to each customer’s profile.
The first step is to find out the attitudes and skills of potential beneficiaries in order to guide each person in joining the workforce, in order to then inform them of the current situation in the labor market to make the beneficiary more aware of the realities which he/she will face.
The next step is to analyze the tools required to progress the active job search and implement specific techniques for greater efficiency such as CV design, preparation for a job interview, presentation of references, among others.
After this process is completed, the Adecco Foundation will advise participants on current labor relations such as contracts, salaries and job duties. BBVA and the Adecco Foundation will use this information to search for employment and recruitment opportunities.
This program also contemplates training activities for the individual to properly match the job as well as a beneficiary tracking process, which will run for 24 months from the date of joining the program.
Handouts of up to 400 euros
In addition to the employment program, BBVA shall provide financial support to all beneficiary families for two years.
For particularly vulnerable families in need (advanced age or dependency, domestic violence, large families, people with disabilities, among other difficult situations), the financial support will be 400 euros per month for two years.
Families in need in a situation not considered particularly vulnerable, but who have lost their homes due to not having sufficient income, will receive 200 euros a month for two years.
In the event that any member of these families finds temporary employment, the financial support will be paralyzed until the employment contract ends, at which time the support will be reactivated and will run until the agreed 24 months have been completed. If the situation of these families remains vulnerable after two years, solutions adapted to each case shall be adopted.
Beneficiaries of the handouts
The Adecco Foundation will prepare a social report for each applicant on the basis of predefined objective criteria of particular vulnerability. With the results, BBVA will verify each application, the handouts shall be paid and the employment support program will be implemented.
Furthermore, BBVA professionals, the Adecco Foundation and other social organizations will verify the correct operation of the process through a monitoring committee. The application period for this program will begin on April 15, 2013.
BBVA has allocated 60 million euros to social measures to alleviate the difficult situation faced by many Spanish families. In addition to this last initiative, to which the bank will allocate 32 million euros, earlier this year it raised five million euros for the Spanish Red Cross, Caritas and la Federación Española de Banco de Alimentos (Spanish Food Bank Federation) through the ‘Tu solidaridad vale el doble’ campaign, between customer donations (two million euros) and the contribution made by the bank itself (three million euros). In addition, BBVA recently launched Yo Soy Empleo, to help SMEs and the self-employed create 10,000 jobs and in which it has invested 25 million euros.
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BBVA is a customer-centric global financial services group founded in 1857. The Group has a solid position in Spain, it is the largest financial institution in Mexico and it has leading franchises in South America and the Sunbelt Region of the United States. Its diversified business is biased to high-growth markets and it relies on technology as a key sustainable competitive advantage. BBVA ranks among the leading Euro zone banks in terms of ROE and efficiency. Corporate responsibility is at the core of its business model. BBVA fosters financial education and inclusion, and supports scientific research and culture. It operates with the highest integrity, a long-term vision and applies the best practices. The Group is present in the main sustainability indexes.
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