Valentinus Narung, CEO of Credit Union Keling Kumang, Emphasizes the Importance of Financial Literacy for the Dayak People

Valentinus Narung, CEO of Credit Union Keling Kumang.Documentation: dayaktoday.com 

dayaktoday.com - SEKADAU: In an insightful discussion, Valentinus Narung, CEO of Credit Union Keling Kumang (CU KK), stressed the critical need for financial literacy among the Dayak community in Eastern West Kalimantan. 

Narung highlighted that while globalization has brought numerous advantages, it has also introduced challenges, particularly in managing personal finances. 

The lack of financial literacy is still a significant barrier to economic progress in the region, particularly in areas like Sekadau, Sintang, Melawi, and Kapuas Hulu.

According to Narung, many people in these areas struggle to manage their finances effectively due to limited access to financial information and technology.

The urgency of financial literacy education in Eastern West Kalimantan

To understand and delve deeper into how CU Keling Kumang implements financial literacy for its members, Dayaktoday.com specifically interviewed the CEO, who is currently pursuing doctoral studies at a public university in Palangka Raya.

Dayaktoday (DT): Good morning, Mr. Valentinus. Thank you for taking the time to chat with us today. Could you briefly explain the background behind the urgency of financial literacy education in Eastern West Kalimantan?

Valentinus Narung (VN): Good morning, and thank you for having me. Financial literacy is essential to help people manage their income, savings, and investments wisely. In the eastern part of West Kalimantan, such as Sekadau, Sintang, Melawi, and Kapuas Hulu, the low level of financial literacy is still very noticeable, which is hindering the economic growth of the region.

Valentinus Narung is delivering financial literacy material to an audience at a hotel in Pontianak. Documentation: dayaktoday.com

DT: What do you think is the main obstacle to improving financial literacy in this area?

VN: The main obstacle is limited access to financial information. The lack of digital infrastructure and internet access in remote areas makes it difficult for people to take advantage of digital resources, such as investment apps or online financial planning courses.

DT: Globalization certainly brings many opportunities. How do you think globalization has affected the financial management of the local population?

VN: Globalization has had a significant impact. People are more exposed to a consumerist lifestyle through social media, which leads them to spend more on consumption rather than saving or investing. This worsens the already low financial literacy in the community.

DT: How do you view the role of formal education in this context?

VN: Formal education in schools does teach financial literacy, but it’s limited to certain majors, like accounting in vocational schools. Unfortunately, this doesn’t reach the broader community. Financial literacy education needs to be introduced more widely, starting at an early age.

DT: So, what role does Credit Union Keling Kumang (CU KK) play in improving financial literacy?

VN: CU Keling Kumang plays a key role by providing financial education, not just in formal settings but also through direct mentoring. We focus on budgeting, saving, and investing for our members, and we also offer loans with guidance to help support their businesses.

DT: What challenges does CU KK face in educating people about financial management in remote areas?

VN: The main challenge is limited access to technology and the basic understanding of financial management. However, we continue to provide education in a sustainable way, both through face-to-face meetings and digital platforms.

DT: Do you see technology as a solution to overcoming these barriers?

VN: Absolutely. Technology can be a powerful solution. Digital platforms like financial apps, online courses, and social media can help people understand financial management more easily. Technology makes financial education more accessible, even in remote areas.

DT: What tangible benefits do you see from using technology to enhance financial literacy in this region?

VN: Technology allows people to learn anytime, anywhere. Simple-to-use financial apps can help them plan budgets, save, and invest more effectively. It accelerates their understanding of how to manage money wisely.

DT: What needs to be done for technology to be fully optimized by people in this area?

VN: The first step is improving digital infrastructure. Without reliable internet access, technology won’t reach its full potential. Also, people need to be trained on how to use these tools so they can make the most of financial apps.

DT: Has CU KK started using technology in its financial literacy programs?

VN: Yes, we have started using financial apps and social media as tools for education. We also provide online training to introduce practical financial management skills that are easy to understand and apply.

DT: How significant is the impact of financial literacy education on the local economy in Eastern West Kalimantan?

VN: It’s huge. With proper financial literacy, people can manage their money wisely, save for the future, invest, and even start businesses. This improves their financial well-being and contributes to local economic growth.

DT: What is the biggest challenge you face in educating people about the importance of financial management?

VN: The biggest challenge is changing the consumerist mindset that’s deeply ingrained. Many people focus more on a consumptive lifestyle rather than long-term goals like saving or investing. Educating them to be more prudent in managing their finances takes time.

DT: Does CU KK have any specific strategies to address this challenge?

VN: We focus on practical and applicable education. We show real-life examples of how to manage money and provide mentoring to members who want to start businesses or invest. We also continue to educate them about the importance of saving and planning for the future.

DT: How do you see the development of financial literacy in this area in the next 5 to 10 years?

VN: I’m optimistic. With support from technology and ongoing efforts from various stakeholders, financial literacy will improve in this area. We hope that more people will realize the importance of managing money and will use that knowledge to improve their financial well-being.

DT: What are your hopes for the role of the government in improving financial literacy in this region?

VN: I hope the government will provide more support for financial literacy education programs, both at the school level and in local communities. Improving digital infrastructure is also crucial to ensure that financial education resources are accessible to everyone.

Manage finances wisely, save, invest, educate

DT: Finally, what message would you like to send to the people of Eastern West Kalimantan?

VN: I’d like to remind the community to start managing their finances wisely, save for the future, and invest to improve their well-being. Don’t hesitate to seek out the right information and education, whether through digital platforms or institutions like CU Keling Kumang. Financial literacy is the key to achieving financial independence.

DT: Thank you so much, Mr. Valentinus, for sharing your valuable insights.

VN: Thank you as well. I hope what we’ve discussed can be beneficial to the community.

(dayaktoday.com/RMSP)