World Savings Day

World Savings Day is linked to an important Italian economist and political analyst, Mr. Maffeo Pantaleoni, who died in 1924 and inspired the day during a speech he gave in Milan in 1924 at the first International Savings Congress.

Savings were said to be not only the foundation of society’s economic education but also a fundamental discipline for all communities for the better use of wealth. Since then, every October 31 – the day the first Congress ended – has been declared “Savings Day.” The day offers a moment of reflection for all public institutions, banks, and citizens to celebrate the concept of thrift as the economic engine of growth for local communities.

Faithful to its “people’s bank” mission by remaining close to the territory in which it operates, Banca Popolare di Sondrio, which is active all year in organizing social and cultural initiatives open to the public, does all in its power to make sure October 31 is properly celebrated. For World Savings Day, the bank organizes initiatives to bring people’s attention to savings, without which banks could not operate, as their activities are based on collection and loans.

More specifically, the last three editions have concentrated on three sectors fundamental to the country’s economy: agriculture, crafts, and commerce. Before a large audience and sector experts, WORLD SAVINGS DAY Banca Popolar e di Sondrio conference participants reflected on the importance of economic activities linked to those sectors and to their founding values.

To commemorate World Savings Day in 2012, Banca Popolare di Sondrio prepared a book, “Andrea Credaro – I taccuini di un frutticoltore di fine Ottocento“ (translated title “Andrea Credaro – The Notebooks of a Fruit Grower at the End of the 19th Century“), which was written by Vera Nella Credaro and Augusto Pirola. The work focuses on the Sondrio farmer Andrea Credaro, who lived in the 19th century and was the father of the famous Minister of Public Education, Luigi Credaro. This book was intended to be a celebration of the Valtellina farmer, for whom work was a daily commitment, made more difficult by the harsh conditions of terraced vineyards – a unique characteristic of the land in the Province of Sondrio. The book was presented to the public on World Savings Day on October 31, 2012, during a roundtable discussion entitled “Working under the sky bent over the ground.” In attendance were young farmers, students from the agrarian institutes – even from outside the province – teachers, experts, and fans of the farming sector, all of whom received a copy of the book as a gift.

“Craftsmanship, protagonist of the economic system, between history, tradition and future” was the subject of World Savings Day in 2013, which was dedicated to crafts companies operating in the area.

The events helped to establish contact with people and families and paid respect to local uses and customs, with special attention given to recent changes under globalization. The public conference, held by the architect Giorgio Merletti, President of Confartigianato Imprese, highlighted the fundamental values of craftsmanship: good will, industriousness, commitment, self-denial, sacrifice, and creativity. During that public event, an exhibition of the art crafts of Sondrio was set up in the bank and remained open
to the public for several days.

For the 90th World Savings Day, celebrated in 2014, Banca Popolare di Sondrio promoted a conference held
by Carlo Sangalli, President of Confcommercio – Imprese per l’Italia, on the subject “Companies that do not save themselves: How commerce and services contribute to the country’s future.” The services sector of the country includes commerce, tourism, transport, and services, which together form more than 40 percent of the country’s GDP. Thus, it is an important sector comprised of diverse companies creating visibility for the region and contributing toward the country’s attractiveness. The intention was to highlight the tangible difficulties met by businesses during the ongoing economic crisis. But it was also intended to show the will of entrepreneurs to maintain ideas and relations with people and property, to exchange goods and opinions, and to create links. The event’s slogan was “You switch off signs but not what lit them up.”

These bank initiatives for the public help to spread the savings concept, which is vital for banks, the economy, and work – something that entrepreneurs know only too well. Banca Popolare di Sondrio has always sustained economic and social value and supported the areas, companies, and families with its original vision of a people’s cooperative bank.