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X.A.C NGO


X.A.C NGO

Introduction of Golden Fund for Development Association

Golden Fund for Development Association (GFDA), was founded on a voluntary basis by the initiation of XacBank employees on the 2nd of August, 2003. The NGO is built with the mission of preparing the development of Mongolia’s next generation children and youths, and improve their living environment.

GFDA NGO collects its funding through our membership fee, donation, grants and NGO activity revenue.

As of December, 2014, the number of our GFDA members have reached 1500. We have organized activities reaching out to children and supporting them, protecting the environment and initiated conservational actions every year through our volunteers living in the majority of different provinces in Mongolia

From 2003 to 2014, more than 100,000 people have been involved in GFDА activities and have built MNT 627 million worth of fund mainly aiming towards development of children and environmental effort.

Social and financial education for children

Aflatoun program

Aflatoun is a social and financial educational program reaching to children between the ages of 8-13. The program have reached over to 2 million children in 120 countries. The main objective of the program is to provide social and financial education through child-centric learning methods to bring up confident and socially responsible citizens. The success of the program is seen through the positive experience and results in many countries. Through Aflatoun program, children understand their rights, learn to manage their own money and other resources, savings, budget planning and organize financial needs on their own.

In 2010, with XacBank initiation GFDA started the experimental implementation of the program with the support from SEEP Network non-profit organization. The program has involved 2600 students between the ages of 8-13 from 15 different secondary schools in 2013 to 2014, and 2000 students have been involved in 2014-2015. In addition, 130 teachers have been included and trained through the program.

From 2010 to 2014, the program has reached a total number of 13,100 children. Teachers and parents of the children involved have been highly satisfied with the results and requested to involve more children that previously haven’t been included in the program. These comments have shown us just how much effective the program has been.

With the goal of teaching social and financial classes to disabled children, GFDA started the Aflatoun program at specialized School №29 for children with hearing difficulties for three consecutive years to more than 200 students.

Aspire program

Since its foundation, XacBank has always prioritized social responsibility, especially the young generation of Mongolia by providing products and services for youths. One segment of this priority can be seen through our “Aspire” program, which includes financial educational program in collaboration with Women’s World Banking and Microfinance Opportunities.

The financial program is directed to children between the ages of 14-18. It helps children to understand the concept of interacting with money and how to handle them in a way that could assist them in the future. The program is taught after school hours.

Financial education scope

Since 2009 XacBank has worked with over 110 secondary schools involving more than 4,800 students in the program, as well as preparing 80 student instructors from National University of Mongolia, Mongolian University of Science and Technology, Institute of Finance and Economics, and Mongolian University of Life Science. 

In 2011, GDFA have been chosen as the implementing organization of the program. Since then GDFA has been working with secondary schools and trained History and Social Science teachers as program instructors. In 2011-2012, we have established a committee for teachers from Dornod, Darkhan, and Ulaanbaatar city, with the purpose to build capacity for the project to proceed independently, a total number of 8000 teenagers have been involved in the program.

Program partners

  •  Women’s World Banking.
  • Microfinance Opportunities.
  • Nike foundation.
  • Mongolian Education Alliance.
  • “Tegsh Mur” NGO.
  • Golden Fund for Development Association NGO.

Investments


X.A.C NGO

Introduction of Golden Fund for Development Association

Golden Fund for Development Association (GFDA), was founded on a voluntary basis by the initiation of XacBank employees on the 2nd of August, 2003. The NGO is built with the mission of preparing the development of Mongolia’s next generation children and youths, and improve their living environment.

GFDA NGO collects its funding through our membership fee, donation, grants and NGO activity revenue.

As of December, 2014, the number of our GFDA members have reached 1500. We have organized activities reaching out to children and supporting them, protecting the environment and initiated conservational actions every year through our volunteers living in the majority of different provinces in Mongolia

From 2003 to 2014, more than 100,000 people have been involved in GFDА activities and have built MNT 627 million worth of fund mainly aiming towards development of children and environmental effort.

Social and financial education for children

Aflatoun program

Aflatoun is a social and financial educational program reaching to children between the ages of 8-13. The program have reached over to 2 million children in 120 countries. The main objective of the program is to provide social and financial education through child-centric learning methods to bring up confident and socially responsible citizens. The success of the program is seen through the positive experience and results in many countries. Through Aflatoun program, children understand their rights, learn to manage their own money and other resources, savings, budget planning and organize financial needs on their own.

In 2010, with XacBank initiation GFDA started the experimental implementation of the program with the support from SEEP Network non-profit organization. The program has involved 2600 students between the ages of 8-13 from 15 different secondary schools in 2013 to 2014, and 2000 students have been involved in 2014-2015. In addition, 130 teachers have been included and trained through the program.

From 2010 to 2014, the program has reached a total number of 13,100 children. Teachers and parents of the children involved have been highly satisfied with the results and requested to involve more children that previously haven’t been included in the program. These comments have shown us just how much effective the program has been.

With the goal of teaching social and financial classes to disabled children, GFDA started the Aflatoun program at specialized School №29 for children with hearing difficulties for three consecutive years to more than 200 students.

Aspire program

Since its foundation, XacBank has always prioritized social responsibility, especially the young generation of Mongolia by providing products and services for youths. One segment of this priority can be seen through our “Aspire” program, which includes financial educational program in collaboration with Women’s World Banking and Microfinance Opportunities.

The financial program is directed to children between the ages of 14-18. It helps children to understand the concept of interacting with money and how to handle them in a way that could assist them in the future. The program is taught after school hours.

Financial education scope

Since 2009 XacBank has worked with over 110 secondary schools involving more than 4,800 students in the program, as well as preparing 80 student instructors from National University of Mongolia, Mongolian University of Science and Technology, Institute of Finance and Economics, and Mongolian University of Life Science. 

In 2011, GDFA have been chosen as the implementing organization of the program. Since then GDFA has been working with secondary schools and trained History and Social Science teachers as program instructors. In 2011-2012, we have established a committee for teachers from Dornod, Darkhan, and Ulaanbaatar city, with the purpose to build capacity for the project to proceed independently, a total number of 8000 teenagers have been involved in the program.

Program partners:

  • Women’s World Banking;
  • Microfinance Opportunities;
  • Nike foundation;
  • Mongolian Education Alliance;
  • “Tegsh Mur” NGO;
  • Golden Fund for Development Association NGO.

Investments

Since 2009, XacBank have spent more than MNT 110 million for the financial educational program dedicated to children, the future of Mongolia and will continue to invest more in the future to effectively expand the program to a bigger scope.

Case study reaching scale with financial education for youth november 2011
Toolkit effective marketing for scaling up financial services to youth november 2012


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