Over 200 University Students Embark on Financial Journey with Account Openings in Cotabato
In a significant step toward enhancing financial health among young Filipinos, more than 200 students opened their first transaction accounts during a Youth Financial Inclusion (YFI) Initiative onboarding activity. The event took place at the University of Southern Mindanao (USM) in Kabacan, Cotabato, on January 30, 2026, marking a pivotal moment in efforts to bridge the financial gap for the youth.
Addressing Low Account Ownership Among Filipino Youth
The YFI Initiative is designed to advance financial inclusion by starting with the opening of transaction accounts, which serve as a gateway to broader financial services and opportunities. Currently, only about three in 10 Filipinos aged 15-19 have an account, based on available data, highlighting the urgent need for such programs. Launched in January 2025, the initiative is spearheaded by the Financial Inclusion Steering Committee, chaired by the Bangko Sentral ng Pilipinas (BSP), to tackle this disparity head-on.
Collaborative Efforts Drive Onboarding Success
To help students begin their financial inclusion journey, YFI Ambassadors from USM teamed up with the BSP to organize the activity specifically for university freshmen. The event featured informative talks on the YFI's community impact, personal finance management, and the BSP's digitalization campaign. Additionally, financial service providers shared detailed information on savings products, loan products tailored to students' needs, and digital tools designed to make transactions easier and more convenient.
Expanding Reach Across the Philippines
The onboarding activity in Cotabato represents the third in a series of events, following earlier activities conducted in Southern Leyte and Cavite in 2025. This expansion underscores the YFI Initiative's commitment to reaching young Filipinos nationwide, fostering a culture of financial literacy and inclusion from an early age. By empowering students with essential financial tools and knowledge, the program aims to build a more economically resilient future generation.
