TORONTO, Feb. 23 /CNW/ - Genworth Financial Mortgage Insurance Company
Canada ("Genworth Financial Canada") announces they will increase their
financial commitment to the Canadian Association of Credit Counselling
Services ("CACCS") to provide educational resources for first-time
homebuyers across Canada.
As a leader in mortgage education, Genworth Financial Canada is
committed to helping homebuyers elevate their financial understanding.
Together with CACCS, they will conduct a series of seminars for
Canadians teaching the basics of financial fitness and how to develop a
strategy that will help them attain their goals during Genworth
Financial's Homeownership Education Week as well as other initiatives
throughout the year.
Recognizing the importance of financial education, the announcement
follows the federal government's recent report by Canada's Task Force
on Financial Literacy, recommending urgent action be taken on a
national level to strengthen Canadians' financial literacy.
"We agree with the Task Force's report, as The Homeownership Company, we
are proud to join with CACCS in providing financial literacy tools and
support to all Canadians," said Peter Vukanovich, President and Chief
Operating Officer of Genworth Financial Canada. "Just as a home needs a
proper foundation, every new homebuyer should make sure they've done
their financial homework."
Genworth Financial Canada has earmarked $150,000 for this year's
program, which is an expansion of support they provided last year to
"By working with Genworth Financial Canada, we will spread the message
to Canadians that getting control of their financial situation is the
best way to reach life goals such as homeownership," said Henrietta
Ross, Chief Executive Officer of CACCS.
National Homeownership Education Week is Genworth Financial Canada's
second annual initiative slated for April 11th to15th. The week-long
focus is designed to teach the importance of learning the basics of
buying a home and how to become financially fit.
About Genworth Financial Canada:
Genworth Financial Canada, a subsidiary of Genworth MI Canada Inc.
(TSX:MIC), has been the leading Canadian private residential mortgage
insurer since 1995. Known as "The Homeownership Company", it provides
default mortgage insurance to Canadian residential mortgage lenders
that enables low down payment borrowers to own a home more affordably
and stay in their homes during difficult financial times. Genworth
Financial Canada combines technological and service excellence with
risk management expertise to deliver innovation to the mortgage
marketplace. As of December 31, 2010, Genworth MI Canada had $5.4
billion in total assets and $2.6 billion in shareholders' equity. Based
in Oakville, Ontario, the Company employs approximately 265 people
Additional information about Genworth Financial Canada is available at www.genworth.ca.
About Canadian Association of Credit Counselling Services:
The Canadian Association of Credit Counselling Services (CACCS)
represents a Canada-wide network of accredited, not-for-profit agencies
and affiliates offering preventative education and confidential
services to clients experiencing financial difficulties. With a focus
on financial counselling education, accreditation of agencies and
certification of Financial Counsellors, CACCS is also committed to
national research and policy initiatives concerning personal finance
and industry advocacy.
To find a certified Credit Counsellor and qualified Financial Coach at
an accredited Member Agency, call the CACCS central referral service at
1-800-263-0260 or visit www.caccs.ca for more information.
SOURCE Genworth Financial Canada
For further information:
For additional information or to arrange interviews, please contact:
Genworth Financial Canada
Strategic Marketing Leader
905.287.5394 or Anita.DiPaoloBooth@genworth.com