TORONTO, April 20 /CNW/ - Canadians can now get their individual
Financial Fitness Score to help discover how financially fit they are
courtesy of Genworth Financial Mortgage Insurance Company Canada
("Genworth Financial Canada") and the Canadian Association of Credit
Counselling Services ("CACCS").
This new Financial Fitness Score, the first of its kind in Canada, is
available online at www.financialfitness.ca. The score is based on attitudinal and behavioral questions that were
developed from financial fitness data collected in a survey sponsored
by Genworth Financial Canada and CACCS. The tool helps people determine
how well they are managing their finances and provides useful
information that is based on their fitness level.
"Having a firm understanding of what it means to manage your money is so
important to peace of mind", said Henrietta Ross, Chief Executive
Officer of CACCS. "It's quick, easy and free, but so rich in value.
Understanding your score and what you can do to improve your situation
is very empowering."
The fitness tool is just one of a series of initiatives provided by
Genworth Financial Canada in collaboration with CACCS and was launched
as part of their recent Homeownership Education Week events that
included live seminars and webinars on various financial topics.
"Providing this financial fitness evaluation is an extension of
Genworth's commitment to helping Canadians get a better understanding
of their finances," said Debbie McPherson, Senior Vice-President, Sales
and Marketing of Genworth Financial Canada. "As The Homeownership
Company, we help Canadians achieve their homeownership dreams
responsibly and providing education is an important first step".
A recent report by Canada's Task Force on Financial Literacy concluded
urgent action needs to be taken to strengthen financial understanding
in Canada. Genworth Financial Canada supports this recommendation and
is continuing to work with the CACCS to offer helpful financial
resources for Canadians.
Get your Financial Fitness Score today by visiting www.financialfitness.ca.
A national online survey of over 1,500 Canadians, including 254 first
time buyers and people who intend to buy homes in the next two years,
was conducted between January 19 and February 1, 2011 by Environics
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